Rob Snowden Named to the Cabinet of Professional Advisors of the Foundation for the Carolinas
Rob Snowden, ASA, ABV
Managing Director
322 Lamar Avenue
Suite 210
Charlotte, North Carolina 28204
FOR IMMEDIATE RELEASE: February 11, 2021
South Park Advisors
(704) 817-1584
charlotte@southparkval.com
Rob Snowden Named to the Cabinet of Professional Advisors of the Foundation for the Carolinas
Charlotte, NC: South Park Advisors is pleased to announce that Rob Snowden, founding partner, and business valuation expert, has been named to the Cabinet of Professional Advisors of the Foundation for the Carolinas. The Foundation for the Carolinas (FFTC) serves as a catalyst for philanthropic activity in a 13-county region. Established in 1958, the FFTC has more than $2.5 billion in charitable assets across nearly 3,000 charitable funds established by families, nonprofits, and businesses.
FFTC notes, “professional advisors are invaluable partners for advancing philanthropy. Some of our most trusted partners serve as members of our Cabinet of Professional Advisors. Selected annually for rolling three-year terms, our cabinet enjoys the benefit of networking and learning opportunities, while providing insight about the charitable products and services their clients value.”
Rob Snowden says, “It is a great honor to join the cabinet and the other esteemed members to advance FFTC’s efforts in providing innovative charitable solutions to families and businesses throughout the Carolinas and beyond.”
Rob Snowden is the founder of South Park Advisors, an independent business valuation firm that caters to business owners, attorneys, accountants, commercial bankers, trust departments, insurance agents, and financial planners. He has more than 20 years of experience providing valuation and advisory services to companies ranging in size from less than $1M to $1B in sales across multiple industries. Although Rob works with all areas of the business, he specializes in estate and gift tax reporting, ESOPs, ownership transition and advisory, dispute resolution, equity sales, buy/sell agreements, recapitalizations, stock option plans, and charitable foundation reporting and lending purposes.
About South Park Advisors: South Park Advisors is an independent business valuation firm that caters primarily to meeting the needs of private, closely-held businesses. With offices in Charlotte, NC, Rochester, NY, and Phoenix, AZ, the company focuses on serving owners of middle-market companies with sales of up to $500MM. www.southparkval.com
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Contemplating Your Exit? A Business Valuation Perspective | VR Business Brokers
Rob Snowden, ASA, ABV
Managing Director
322 Lamar Avenue
Suite 210
Charlotte, North Carolina 28204
Date: Thursday, December 10th
Time: 12:00-12:45pm
In this webinar, we will explore the valuation topics a business owner should be aware of when contemplating an exit, now or in the future.
Our discussion will include: Why do you need a valuation and how often should they be completed? Understanding the components that drive value? What are the different types and reasons for a valuation? And many more questions to be answered.
Rob Snowden, the founding partner of SouthPark Advisors will provide his insights, guidance based on his experience of valuing business from $1 million to $1 billion.
This Webinar will be hosted by Adam Petricoff, Managing Partner at VR Business Brokers – Charlotte.
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Contemplating Your Exit: A Business Valuation Perspective (Zoom Video)
Date: November 30th
Exit Planning In a Pandemic
The global pandemic has caused many Americans to think more about their own mortality and the importance of planning for contingencies. If you are a business owner, now is a good time to think about exit planning. Exit planning involves four key considerations:
- Considering your objectives;
- Establishing business value;
- Determining what will increase value, and
- Evaluating your alternatives for a buyer.
Looking For a Buyer
In terms of a buyer, each business owner has several alternatives. If there are other owners in the business, one option worth exploring is selling your share to these other owners. Similarly, selling to existing managers can sometimes be a viable option, either through a partial sale or in a management buy-out. Business owners quite often also explore selling to a third party or transferring to existing company employees. There are many complexities involved with each of these alternatives, but in general there are four top things to consider:
- Value
- Taxes
- Extent of Involvement after the Sale, and
- Impact on Your Employees.
Value
When selling your business, who you sell to can greatly impact value. For example, if you own a small clothing shop and sell to a national retail clothing chain, who can then use existing distribution channels for your designs, the price they’re willing to pay will usually not be based on the earnings you were able to achieve at your shop alone. Instead, the price will be based upon the national retailer’s projections of the profit they can make selling your designs at all their stores (usually a higher value). So, selling to a third party may produce a higher value if there are synergies involved.
Taxes
If you get a high value, that’s good news, right? Like any other type of income, if you make money on the sale of your business there will usually be tax implications. If you sell to an outside party, whether the money you make on the sale is considered ordinary income or capital gain usually depends upon the details of the transaction. Also important is whether the sale is structured as an asset sale or a stock sale. On the other hand, if you sell to your employees (referred to as an Employee Stock Ownership Plan, or “ESOP”) instead of to a third party, tax benefits can be significant.
Extent of Involvement After the Sale
Although financial considerations like value and taxes are important, business involvement after the sale is another key consideration. To many business owners, the thought of staying involved in the business after the sale is very appealing. It is difficult to give up the reins all at once. Some business owners stay involved after the sale to a third party, but sometimes this is not an option. The buyer may require the business owner to retire and sign a non-compete agreement. Here the type of transaction is also very important because many business owners find that significant involvement after the sale is a more probable outcome with an ESOP transaction.
Impact on Your Employees
And if the business owner wants to keep his or her job, what about the employees? A final question to ask is “What’s going to happen to my employees after I sell my business?” To many business owners who are concerned about employees keeping their jobs after the transaction, an ESOP can be very appealing. When the company is sold to an outside party, there are no guarantees that employees will keep their jobs. Often the acquiring company prefers to bring in their own management team. Also, back office operations such as accounting may be consolidated into the acquiring company’s operations, with the resulting positions being eliminated. In contrast, in an ESOP transaction the employees are the owners after the sale, so they determine their own fate.
Should I Stay or Should I Go?
Many small business owners are finding that, now that the pandemic is upon us, they are giving greater thought to “What is next?”. There is no better time than the present to evaluate your alternatives and plan for the future.
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The ESOP Association Northeast Regional Virtual Meeting | Communicating Value and Understanding My Impact on Value
Rob Hilton is joining Sandra Smith of Atlantic Management and Michael Borinski of Bradford White in the discussion of:
“Communicating Value and Understanding My Impact on Value”
This session will break down the barriers to communicating value. We will address issues such as financial literacy, understanding the target audience, and best practices for delivering the good, the bad and the ugly. We will also step through the key value drivers and help you understand how your daily work impacts the company’s value
Date: September 29th
Janet Chase Joins South Park Advisors
South Park Advisors, an independent business valuation firm with offices in Charlotte, North Carolina; Rochester, New York; and Phoenix, Arizona, is pleased to announce the addition of Janet Chase as Managing Director. Janet’s substantial expertise in financial reporting, intangible assets, litigation and transaction advisory will extend the firm’s service capabilities to clients throughout the United States.
Prior to joining South Park Advisors, Janet has spent over 20 years in providing valuation and litigation services to both private and public companies ranging in size from less than $1 million to over $10 billion in sales. Her experience includes leadership roles at a Big 4 Accounting Firm, as well as executive involvement in global transactions for iconic brands such as Bausch & Lomb and Ray Ban.
“I’m excited to be joining South Park Advisors with the firm’s substantial expertise in the Tax & Estate and ESOP Advisory areas. South Park Advisors also has a history of serving clients with passion, dedication, and integrity, which are values I share. The combination of our professional skill set will bring significant value to the clients we serve.”
At South Park Advisors, we approach each engagement with confidence, competency and industry-specific knowledge to ensure a credible and well-reasoned outcome believing that there is no one-size-fits all approach to valuation. Please let us know how we can assist with business valuation or advisory needs of you or your client.