Remodeling: Succession Planninghttp://www2.remodeling.hw.net/management/owner-issues/succession-planning/succession-planning.aspx?view=rss&id=Query_tcm1765818<url /><link /></image><description>The Information Source for the Home Building Industry</description><language>en-us</language><pubDate /><webMaster /><item><title>Succession During a Recessionhttp://www2.remodeling.hw.net/exit-strategy/final-handoff.aspx?rssLink=Final+HandoffDon't let the economic downturn stop succession plans for your business.Big50 SecondLook: Delbert Adamshttp://www2.remodeling.hw.net/exit-strategy/big50-secondlook-delbert-adams.aspx?rssLink=Big50+SecondLook%3a+Delbert+AdamsAfter 22 years of building Ilex Construction into a remodeling and custom-home powerhouse, Delbert Adams starts anew. Year one was a winner.SecondLook: John DeCiantishttp://www2.remodeling.hw.net/exit-strategy/secondlook-john-deciantis.aspx?rssLink=SecondLook%3a+John+DeCiantisThis class of 2001 Big50 returns to what he loves doing: working with his hands on unique projects.Second Look: An Update on Big50 Remodelers Candi and Troy Hiltonhttp://www2.remodeling.hw.net/local-markets/second-look-candi-and-troy-hilton.aspx?rssLink=Second+Look%3a+Candi+and+Troy+HiltonA few years ago, Candi and Troy Hilton moved from Kansas to Florida. They're now opening a new remodeling company, New Leaf Construction, in Naples, Fla.Established Florida Remodeling Company Gears Up for Changehttp://www2.remodeling.hw.net/awards/big50-profile-john-kiernan.aspx?rssLink=Big50+Profile%3a+John+KiernanA name change, succession plan, and staff restructuring prepare John Kiernan's remodeling company to weather future economic storms.Question on Sharing Company Stockhttp://www2.remodeling.hw.net/exit-strategy/qa-sharing-company-stock.aspx?rssLink=Harrell2%3a+Sharing+Company+StockWhat happens to the shares of stock allocated to an employee in a company with an ESOP (employee stock option plan) when the employee leaves the company?3 to Watch: Young Remodelers on the Risehttp://www2.remodeling.hw.net/exit-strategy/3-to-watch-transitional-roles.aspx?rssLink=3+to+Watch%3a+Transitional+RolesGlen Knight spent almost a decade working in corporate jobs in California and Tennessee before reaching a crossroads in his career that had him contemplating his long-term goals.Preparing a Remodeling Company for Salehttp://www2.remodeling.hw.net/consultants/spec-sale-or-custom.aspx?rssLink=Spec+Sale+or+Custom%3fSince selling my remodeling business in 2004, I’ve been asked by many remodelers for insights into how they might sell their own companies. There’s no one-size-fits-all answer. Each business is unique and each prospective buyer is looking for unique characteristics.Sharing Company Ownershiphttp://www2.remodeling.hw.net/exit-strategy/qa-sharing-company-ownership.aspx?rssLink=Harrell1%3a+Sharing+Company+OwnershipWhat is shared ownership, and how do you structure it?Big50 SecondLook: Bill Medinahttp://www2.remodeling.hw.net/exit-strategy/secondlook.aspx?rssLink=Second+Look%3a+Bill+MedinaAfter Bill Medina was named Big50 in 1994, his company experienced record growth, nearly tripling in size after acquiring roofing, framing, hardwood flooring, and distribution companies.Preparing for the future of your businesshttp://www2.remodeling.hw.net/business/fair-future.aspx?rssLink=Fair+FutureSuccession planning, a rarity in the industry just a decade or two ago, has become a serious priority for many remodelers big and small. Having and exit strategyhttp://www2.remodeling.hw.net/exit-strategy/bylaw-exiting-with-an-esop.aspx?rssLink=ByLaw%3a+Exiting+with+an+ESOPAs hard as it is to sell a construction business outright, it is even more difficult to sell in stages, allowing for a gradual withdrawal by the owner.Employee stock ownership detailshttp://www2.remodeling.hw.net/exit-strategy/claiming-ownership.aspx?rssLink=Claiming+OwnershipThe ins and outs of ESOP.Plan ahead for retirement: make succession planning a priorityhttp://www2.remodeling.hw.net/remodeling/reader-panel-no-exit.aspx?rssLink=Reader+Panel%3a+No+ExitWithout an exit strategy, remodelers may find retiring as difficult as staying in business. Remodeler Robbie Robinson is learning that if you expect your business to help pay for your retirement, you'd better plan ahead. Before deciding to pass it on, Robinson had planned to close down the company.Start planning your exit strategy for successionhttp://www2.remodeling.hw.net/business/successful-succession.aspx?rssLink=Successful+SuccessionGauthier holds control through V (voting) shares, while two employees, Bryan Beauchemin and Steve Podlich, hold N (non-voting) shares. His target of six potential partners is arbitrary, and his vice president, Beauchemin, will exert influence in hiring strong new employees so Gauthier has partners to buy his shares when he leaves.Business sale goes awryhttp://www2.remodeling.hw.net/legal-issues/family-business-sale-goes-awry.aspx?rssLink=Family+Business+Sale+Goes+AwryLeRoy Kay sold his 30-year-old construction business, Roy Kay Inc. of Freehold, N.J., to New York-based utility firm KeySpan in February of 2000. Newsday reported last August that court papers submitted by the Kays claim KeySpan misled them by not disclosing that SEC regulations would prohibit them from doing general contracting work -- 30% of their business -- after the sale.