A Successful Transition from Corporate Employee to Owner Operator

Challenge:

When Jerry Baine decided to become a McDonald’s owner/operator, he was already familiar with the restaurant on the corporate side. He knew that his new challenges would be different, however. He was determined to start off on the right foot so his business would reach the success he envisioned. He says, “When I was looking for a financial advisor 35 years ago, I was given Richard Sparkmon’s name, and based on his reputation, I thought there was nobody that could be any better. Sparkmon was a well organized firm with a great reputation that specialized in serving McDonald’s owner/operators.”

Solution:

Jerry says that Sparkmon was there to help him make his vision a reality from the very beginning. “From the inception of my business in 1989, Sparkmon helped with everything from incorporating, finding an attorney, filing articles of incorporation…all of it! Sparkmon is a one-stop shop for new owner/operators.” As a new business owner, Jerry had questions, and Sparkmon had the answers and insights he needed. He says, “Their strength is their knowledge. I came with questions all the time. It’s a big help that they keep up with changes in the IRS code. I rely very heavily on Sparkmon’s financial coaching.”

Result:

Over the years Jerry’s business thrived and grew, always with the support of Sparkmon and Associates. “I’ve been Richard Sparkmon’s client for 35 years, and I have always considered him extremely knowledgeable in the business. He employs outstanding people in his firm too.” Even when life changes were part of the mix, Jerry knew he could count on Sparkmon for financial insights needed to make things a little easier. He says, “Richard has helped with estate planning, and when my wife passed away, his help in settling her estate was invaluable.” Jerry is a firm believer that Sparkmon is the right team for McDonald’s owners: “I’ve recommended them to a lot of new operators – probably 20 times.”

Testimonial:

“The highest compliment I could say is that I have trusted him with everything I have. Richard Sparkmon has been an outstanding coach and mentor to me personally, and a very good friend.”

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Succession & Transition Strategies

Creating a successful succession plan is about protecting the future of a business and/or brand and ensuring there is a strategy in place to ensure your business continues to thrive.

After years of investing time, money and other resources, it’s imperative to prepare for this next stage in business and life. Poor planning can increase risks for stakeholders and tarnish legacies. Let’s make sure the next generation is well-equipped and ready to take your life’s work and family legacy to an even greater level of success.

Each situation is unique because the needs of each one involved are unique. We carefully review each opportunity to determine how best to structure a transition while meeting your goals, complying with any brand licensing polices and minimizing the tax implications of the transfer.

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Cloud accounting is just the beginning; Antares Group’s experienced technology team also performs system evaluations and makes recommendations for products and services that will help your business run more efficiently, as well as protecting your information and infrastructure with robust security options. Using the right technology for automation will simplify your life and keep your valuable data safe..

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An accurate understanding of your company’s current value and financial viability is vital for achieving business success and the launch pad to boundless possibilities in the years to come. Realistic valuations are essential for long-term strategic plans, business successions and expansions, gift and estate planning, and a lucrative retirement package. Planning for where you want to go in the future is what our business and tax advisors do best. Whatever your goals, we are here to provide you with the right plan and insightful guidance to achieve it.

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In such a fast-moving business environment, business owners need every advantage to succeed. Improving efficiency should be an ongoing part of your strategy for financial success, empowering you to make continuous improvements.

Whether your business is a single location seeking to grow effectively and sustainably, an established franchise brand adding new locations, or something in between, Antares Group provides a suite of back office services and the financial expertise to help business owners and managers achieve their operational and financial goals. In the process of supporting your essential back office operations with practical solutions, we analyze the function and effectiveness, looking for inefficiencies and potential liabilities, offering valuable insights for owners and managers.

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Minimizing your tax burden is a year-round strategy; planning for and preparing complex business and individual tax returns is where Antares Group excels. Beyond simply helping you fulfill basic tax obligations, you can rely on our tax advisory team to keep you informed of ever-changing regulations and keep you in compliance. We conduct regular reviews to make sure all methods of reducing your tax liabilities are being used. We routinely assess your personal income tax situation and cash flow to guard against the unexpected. This ongoing strategic analysis empowers you to maximize tax savings and capitalize on new opportunities.

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Whether you run a small closely held business or a large franchise operation, maintaining a firm grasp of accounting and bookkeeping can be challenging. Between managing staff and overseeing daily operations, there is not enough time to dig into the books and make sense of the financials. You need to know the facts and the implications. – having precise, up-to-date information at hand means you always know your financial position so you can make informed decisions that keep your business moving forward.

The financial experts at Antares can create a custom menu of accounting and tax services perfectly catered to your business needs, including accurate and timely financial statements and reports, so you are always prepared to respond quickly to changing and challenging circumstances. Along the way, we provide clear feedback and financial guidance to help you predict trends and recognize issues, then make the necessary adjustments to sustain cash flow throughout the year.

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