• An exit plan strategy asks and answers all the business, personal, financial, legal and tax questions involved in transitioning a privately owned business.
• It includes contingencies for illness, burnout, divorce, or death.
• Its purpose is to maximize the value of the business at the time of exit, minimize taxes, and ensure the owner is able to accomplish all his or her personal and financial goals in the process.
Exit planning is simply good business strategy.
If you are considering selling your buiness in the next several years, you need to be asking and answering a lot of questions now to ensure the best possible outcome. Erin can you help do that.
Erin’s Exit Planning offerings:
A Triggering Event: Includes a business, personal and financial assessment performed in conjunction with a businss valuation.
Pet Industry Mergers & Acquisitions
Erin partners with investment banker, Carol Frank of Birdseye Consulting to assist with the sale process of pet industry companies.
Erin’s work includes writing Confidential Information Memorandums for client companies, gathering business documentation for due diligence, prospect outreach during the sale process and general client management.
Pet Sitting and Dog Walking Industry Consulting
Erin spent seven years as a part-time pet sitter for one of the largest pet sitting and dog walking companies in the country--because she simply loved animals and wanted to make extra money to pay for a housekeeper (true story). Never thinking that this work would influence her future role as business consultant, it instead provided invaluable experience and inside perspective as she began working with her first pet sitting and dog walking company client in 2011. Since then, Erin has worked with many of the largest pet sitting and dog walking company business owners around the country in a consultative capacity.
Her clients have told her that it is her business acumen, ability to focus on the big picture and drive for industry professionalism at all times that have made her a unique advisor. Erin is known for teaching her clients how to read their business financials and encouraging them to watch their KPIs: their key performance indicators. In the pet sitting and dog walking industry KPIs include revenue, labor costs/margins, and the number of new clients a business gets each month (among others). Erin also encourages her pet sitting industry clients to take a step back from the day-to-day issues they face, and make sure that they are setting clear goals for how they want their business to grow and evolve. Erin works with clients on pricing and margin issues, converting from independent contractors to employees, marketing messaging, referral programs, website design and operational issues, among other industry areas.
She is often called on for public speaking engagements, asked to do webinars, and write articles as a pet sitting industry expert.
Erin is also a certified dog trainer, and regularly volunteers for animal-related causes. She is a former board member of the Humane Society of Dallas County, and considers herself an equal opportunity animal lover.
Pet Industry Consulting & Pet Product Licensing
Erin partners with Carol Frank of Birdseye Consulting to work on a variety of pet industry related projects. Work has included market research, business development, and strategic planning for clients seeking entry into the pet industry or assistance getting into new segments of the industry.
Erin and Carol also team up to work with pet product inventors who wish to find licensing partners for their inventions. Products must have patents issued or have patents pending to be considered.
Contract COO Services
Many small businesses do not have a Chief Operating Officer on staff, but after reaching certain growth milestones, could really use one to help create better structure within the company. This often creates a dilemma for a business owner, because they need better systems and expertise to solidify their company for future growth, but financially it may not make sense to hire a full-time COO. Erin Fenstermaker can provide "contract COO" services, by fulfilling the COO functions for the business, but on a part-time basis. This way the business owner gets the senior-level assistance they need, but not the long-term, more expensive commitment of a senior staff member with a hefty salary.
A contract COO will often step in and handle senior level issues in areas where the owner may not have expertise, or assist the CEO with important tasks that they simply do not have the time or bandwidth to handle. Activities may include things like: regularly reviewing business and financial reporting, evaluating business contracts, creating business policies and procedures, identifying and managing areas of business risk.
Small business owners often have many ideas for additional products or revenue streams for their businesses. Unfortunately, they do not always have the bandwidth to properly evaluate their viability, or the time to plan for their rollout and implementation. Erin Fenstermaker is adept at evaluating new product or service addition possibilities in detail; and assisting business owner(s) with making the right decisions to adopt these new revenue sources and/or planning their rollouts.