Succession Planning and Gymco's Story
Rehmann, Grand Rapids, MI Visit Website
Thursday, September 21, 2023
5:00 PM - 7:00 PM
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Eastern Standard Time
Succession Planning and Gymco's Story
Are you familiar with Gymco? Offering gymnastics instruction to Grand Rapids kids of all ages and skill levels, this popular gym was launched in 1980. Held by 1 owner for more nearly 40 years, Gymco was listed for sale in 2019. Enter Beth Briggs, an experienced HR professional, and equestrian athlete. After careful consideration and negotiation, Beth purchased Gymco. With a strong plan to help the previous owner exit and the transition to go smoothly, what could possibly go wrong? But as they say, "The best laid planes of mice and men often go awry."
Covid...
A key employee exists unexpectedly...
The previous owner has a difficult time loosening their grip on the gym...
And more...
Join TMA West Michigan and the EPI West Michigan Chapter for a night of networking, drinks and appetizers. Listen as Beth and her husband, Denny, share more about their story. Welcome Jenny Dakoske (Charter Capital Partners) to facilitate the discussion, sharing her extensive experience in mergers, acquisitions, exit planning and relationship lending.
The good news is today, the gym is thriving again.
Topics of discuss to include:
*How long is too long to hold your business?
*What challenges exist when the prior owner holds, and holds and holds...
*How to properly prepare for transition/succession planning.
*How important are key employees to successful transfer and how to incentivize them to stay.
*Managing unforeseen circumstances (what happens when the best laid planes go out the window).
*How to work and communicate with your advisors.
*The commitment required for owning a business.
Date: September 21, 2023
Location: Rehmann
2330 E Paris Ave SW
Grand Rapids MI 49546
Time: 5:00 PM- 7:00 PM
Cost: TMA Member (all chapters) | $30
EPI Member | $30
Non Member | $50
TMA or EPI NextGen (40 & Under) | $20
Sponsor | FREE
CLICK HERE TO REGISTER NOW
Agenda:
5:00-5:45pm Registration, networking, drinks, and appetizers located at Rehmann
5:45-6:30pm Presentation by Denny Briggs, Beth Briggs and Jenny Dakoske
6:30-7:00pm Tour of Gymco and wrap up