Upon the sale of the business, the principal happily retired with a substantial increase in personal net worth, as well as the satisfaction of knowing that the company he founded 40 years ago would continue with a solid future.

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Chain Store
Trenton, New Jersey

Overview

A 40-year-old chain of flooring, paint and window treatment stores was underperforming, with reduced profits, diminished employee morale, and lack of strategic and operating direction.  Its very successful founder had lost interest in the company, resulting in the substantial and ongoing erosion of profits.  Employee morale was low.  The aging principal was seeking a business turnaround and an exit strategy.

Project Scope

Phase One

Benjamin Capital Advisors performed an evaluation of the company and determined the reasons for the continuing decline in profits.  BCA recommended to the board a turnaround plan and exit strategy.

Phase Two

Principal Chuck Benjamin assumed the position of chief executive officer.  He prepared and implemented a turnaround business plan that would return the company to its formerly high profit levels, while concurrently expanding the business and positioning it as a desirable acquisition candidate.

Phase Three

As a result of the turnaround plan, the company expanded 25% over the following 18 months.  At that point, it was determined to sell the company.  BCA targeted three potential buyers and negotiated a record high sale price to the best candidate, a publicly-traded company listed on the New York Stock Exchange.

Results

Upon the sale of the business, the principal happily retired with a substantial increase in personal net worth, as well as the satisfaction of knowing that the company he founded 40 years ago would continue with a solid future.