Jewel Toned Interiors

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Last week, Jaclyn and I attended the CBIZ Construction Summit for the third year in a row! This event replaces our monthly meeting for the Construction Executives Association and provides a fantastic opportunity to network and gain insights into the unique aspects of construction in South Florida.

I especially enjoyed the Exit Strategies panel, facilitated by Brian Corbett, where three business owners reflected on their experiences selling their companies. Corbett, the Founder of CCG Advisors, is highly experienced in business transitions and led a candid discussion about the realities of selling a business.

Doug Fash, Co-Founder of Sunflower Landscaping, highlighted the benefits of an Employee Stock Ownership Plan (ESOP). He and Corbett explained that an ESOP can be a strong option for those with a long-term exit strategy and who deeply value their employees.

Steven Jenkins, Founder of SWAT Mosquito, discussed his thought process on transitioning, weighing the pros and cons of selling his business versus acquiring others. Ultimately, he presented a pitch deck to a mix of strategic and private equity buyers.

We also gained valuable insights from Jeff Burns, who offered a candid look into the significant behind-the-scenes work required for a successful business transition.

Finally, Jeff Burks, CEO of Latite Roofing, spoke about his company’s acquisition by a private equity firm, explaining how this move positions the business for rapid growth.

Each panelist provided invaluable firsthand knowledge on business transitions, encouraging fellow owners to build their businesses with the end game in mind.

Have you thought about your exit strategy?

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