Restructure + Turnaround
Ready to redefine your business?
Restructure + Turnaround
Through the business cycle there are times where things might need a change, a review of your business and potentially a reset of your business.
Restructure is not a dirty word but often comes with a stigma of avoid debts or kicking the can down the road. A good restructure is a reset for a business, changing not only the immediate financial position, but implementing substantial changes in the business to make sure that whatever caused the current difficulties is removed from the business.
Whenever we work to restructure a business we will look at the turnaround options, the rationalisation of the current business and the changes that are needed to ensure that the core business is able to continue, this process will often be liberating for a business owner, generally resulting in a streamlining of their business activities and a focus back on viability and cash flow improvement.
This is a standalone offering, and will include providing advice as to the viability of proposed franchise and we our experience, about half the time may result in a recommendation not to proceed with the franchise as proposed. We will guide you about the guarantees, lease obligations, funding agreements and risks of the franchise that you are looking at.
We do not provide a tick and flick advice service, our engagement will include viability, critical analysis of the growth projections provided and a verbal and written summary of our views of the position of the franchise. As we work with several financially successful master franchise businesses and their franchisees we will be direct in the advice that we provide.
We understand that it is exciting to start your own business and we see franchising as often a great way to succeed, equally we have seen it go wrong and will work with you to ensure that the franchise you are looking at is the right fit for you.
Strategic Analysis
We will only restructure a business where there is a viable business post restructuring, all too often we see a business that has gone through the restructuring process and ending up in the same place, albeit with less financial resources due to paying for a short term restructure, we are different. Where we are restructuring a business, the first and critical step is a strategic analysis and following a strategic planning meeting, this will generally take place within a few days of our first conversation and will be the pre-cursor to any restructure process.
The strategic analysis process will involve understanding the individual business elements, what is profitable, what is loss making and more importantly why your business is in the situation that it is. This face to face meeting will be the time to understand the core elements, to bring back focus and to forge a way forward for your business.
We will look at your financial position, your business structure, your liability and trading conditions and what needs to change to move to viability.
We will explore how you business can transform, focusing on profitability, growth and ultimately what will be available to permit you to continue in your business whatever that looks like post restructure.
Turnaround + Business Analysis
Once we develop a strategic understanding the process is to start the turnaround process, being actively making changes and kicking off the strategies that were developed in the strategic planning meeting.
A turnaround can be a difficult time, with staff changes likely, customer and client rationalisation and product lines being culled. For larger businesses this may involve selling or closing parts of the business to focus back at the core profitable and cash flow positive parts of the business.
The steps taken during this time can be hard to make, they will involve significant change and for a lot of businesses at risk this is the point where the business (and its owner) are either made or broken.
Helping you through the turnaround process we will provide the tools to make change, the professional support to get through it, and ultimately a guide for where your business is heading, including ensuring that you remain accountable and that you focus on the things that make your business not just survive but thrive.
The turnaround process is not easy and is one which, for a lot of business owners, is hard to swallow, it requires substantive change, doing things differently and taking a step back from your business, taking small wins but ultimately ensuring that your business is able to pull through.
A business plan is critical for all businesses, and for most businesses it is that last thing on their mind. We offer a simplified business plan and accountability chart for businesses as part of our ongoing advisory services, for businesses that are looking for a change in direction, this simple business plan will help you keep accountable.
For all businesses that we work with, we undertake the business planning process as part of our standard engagement. This is a core component of working with us. Our business plan will be the benchmark to understand both you and your business, and what you are looking to achieve.
Take the first step and contact Pete for a discussion about getting a business plan underway.
Negotiation + Communication Strategy
There will be times in the restructure process that we will need to communicate with your creditors and propose options to continue trading, the team are here to help with this process, and give you a hand to make sure that there are options to trade on.
We have worked with businesses that have needed to rationalise their financial obligations and do deals to stay in business, with experience we know that communication is the key. Your suppliers are likely to continue to want to work with you, if you can propose solutions and not just be a burden, and whilst there may be angst we are here to help with the process.
We will work with you the devise a communication strategy for your creditors, to bring your debts under control and in line with the viability of the business find solutions to be able to trade out of the situation.
Where creditors are pushing or making things difficult to continue we are there to help, to give you the necessary breathing space to develop solutions to manage the liabilities and ultimately ensure that the business is able to continue to meet it’s obligations or to find appropriate answers to manage these creditors.
Trade Out + Long Term Planning
Ultimately we are here to give you a viable and sustainable long term business and not just a simple fix to solve an immediate issue but have you back in trouble months later. Our trade out solutions will include assisting you to plan your business long term, to make the necessary changes to be viable but then to keep you accountable and on track.
As part of the viability and restructure process we will invest several months post restructure to make sure that your business continues to develop. You will work closely with the business plan we collaboratively develop, we will assist in keeping you accountable.
We understand that each step of the way you will need support and this is where we will continue to have your back, we work for the long term and not just to get you through the immediate problems but into the future as your business gets back.
Working with us, we celebrate your success, help you achieve milestones and ultimately make sure that should we work together to solve an issue that we keep working to make sure that it doesn’t happen again.