The Center for Businesses in Transition will continue it's popular workshop series that covers topics relevant for transitioning businesses.
The morning workshops will be hosted by partner organizations throughout the region and will take place virtually via Zoom in the month of October. Workshops will also be recorded so that interested business owners will be able to view them at their convenience and as needed in the future.
We hope that you will be able to join us! Details for each session will be updated on this page as they become available (see below).
** Register Today **
** Register Today **
October 1, 2020 from 8:00-9:15 a.m.
Utilizing all of Your Transition Resources: Overcoming Common Obstacles
Hosted by Ticonderoga Area Chamber of Commerce
The first workshop in a six-part series — “Utilizing all of Your Transition Resources: Overcoming Common Obstacles?” — will take place virtually via zoom and will be hosted by the Ticonderoga Area Chamber of Commerce (TACC) on Thursday, October 1st from 8:00 to 9:30 a.m. Retiring business owners and entrepreneurs interested in taking over existing businesses are encouraged to participate. These workshops are free and open to the public.
The program will introduce a panel of area resource providers including Carol Calabrese, co-director of the Essex County Industrial Development Agency (IDA), Certified Business Advisor Angela Smith of the SUNY Canton Small Business Development Center at Clinton Community College, Business in Transition Program Coordinator, Dani Delaini of the Adirondack North Country Association, Business Counselor Stephanie Donaldson of the Adirondack Economic Development Corporation and a local real estate agent.
Panelists will have the opportunity to introduce their organizations and services and then by challenged by a roll of the dice to answer hard hitting frequently asked questions from aspiring entrepreneurs and business owners looking to transition into or out of a business. Check out this facebook page where we will be posting the questions "rolling" up to the event.
In addition, we will be debuting our Transitioning Your North Country Business: A Guidebook and unveiling our new website during this program. You don't want to miss it!
October 8, 2020 from 8:00-9:15 a.m.
Your Best Possible Successor is Already Working for You
Hosted by Greater Watertown-North Country Chamber of Commerce
The second workshop in a six-part series — “Your Best Possible Successor is Already Working for You” — will take place virtually via zoom and will be hosted by Greater Watertown-North Country Chamber of Commerce on Thursday, October 8th from 8:00 to 9:30 a.m. Retiring business owners and entrepreneurs interested in taking over existing businesses are encouraged to participate. These workshops are free and open to the public.
The program will introduce a panel of local business owners who have experienced an employee transition firsthand. You will meet the new owners of Blackstone Electric in Dexter, NY. Mitch Howell and his wife purchased the business after he had been a long standing employee.
Chrissy Beanz, co-owner with her husband of Chrissy Beans Bakery in Sackets Harbor will also be joining the panel, herself a former employee. To read more about the Chrissy Beanz Cafe transaction, check out this article from the Watertown Daily Times.
The panel will also feature Elizabeth Lonergan of the Watertown Small Business Development Center (SBDC) to discuss their role in helping with business transitions.
October 14, 2020 from 8:00-9:15 a.m.
Business Transitions Overview: Where Do You Start?
Hosted by Lewis County Economic Development/IDA
Meet local business people and experts who have been through the process!
Ian Gilbert, Attorney at Conboy, McKay, Bachman & Kendall, LLP - Mr. Gilbert's practice is centered on estate planning, corporate and LLC structuring, and representing municipal entities both in Jefferson and Lewis Counties. Mr. Gilbert represent entrepreneurs and individuals in and around Jefferson and Lewis Counties. Mr. Gilbert will discuss business transitions as the process of formulating and carrying out a plan for the continued success and viability of a business by bringing in new stakeholders and/or assisting with the departure of older ones.
Heidi Vanzandt, Previous Owner, Sunnycrest Flowers – Heidi VanZandt owned and operated Sunnycrest Flowers for approx. 22 years. She and, husband, Eric Virkler, both Lowville natives, purchased an existing floral shop in Syracuse, NY in January 1996, returned to Lewis Co in 1998, and reopened Sunnycrest in Lowville in May 1999. Sale of the business was scheduled to take place in January 2018 to Heidi's business partner but the transaction did not occur because of health reasons. Sunnycrest Flowers was successfully sold to an employee in October 2018.
Megan Dolhof, Owner, Open Sky Wellness – With a Master’s Degree in Clinical Nutrition, Megan had a dream to operate a wellness center. Megan reached out the previous owner of Open Sky to secure an office space to begin her practice and began to occupy the space on weekends. After several meetings and hours of research, Megan purchased the business in July 2017 and transitioned the business to include health, wellness and nutritional consulting.
October 15th, 2020 from 8:00-9:15 a.m.
Marketing Your Available Business
Hosted by The Saranac Lake Area Chamber of Commerce and The County of Franklin Economic Development/IDA
The third workshop in a six-part series- "Marketing your Available Business" will take place virtually via zoom and will be hosted by Saranac Lake Area Chamber of Commerce and The County of Franklin Economic Development/IDA on Thursday, October 15th from 8:00 to 9:30 a.m.Thinking about selling your business? Join us to learn more about how you’ll need to prepare, how to promote your business for sale, and how to interact with potential buyers. This webinar will feature experts in business planning, accounting, and brokering businesses. With plenty of time for Q&A built into the session, we encourage participant engagement. Handouts developed just for this seminar will also get distributed to participants.
Participating experts include, Doug Hoffman of the Hoffman Ells Group, Angela Smith and Kim Manion of the SUNY Canton Small Business Development Center at Clinton Community College and Matt Boire & Alexandra Barie of CDC Real Estate Inc.
October 21, 2020 from 8:00-9:15 a.m.
Determining Value: Perspectives from Buyers and Sellers
Hosted by Hamilton County IDA
The fifth workshop in a six-part series- "Determining Value: Perspectives from Buyers and Sellers" will take place virtually via zoom and will be hosted by Hamilton County IDA on Wednesday, October 21 from 8:00 to 9:30 a.m. Join us to learn more about the various ways to value your business and the free and low cost resources available in the region to help you get started. The program will also highlight two aspiring business owners who are looking to find a North Country business to take over. How are they looking at the process of valuation? What has their journey been like so far in finding an available business and determining a fair price?
Participating experts include, Angela Smith and Kim Manion of the SUNY Canton Small Business Development Center at Clinton Community College, Christy Wilt of the Hamilton County IDA, Aspiring business owners Chrissie Wais and Peter Jacobson and more.
October 27, 2020 from 8:00-9:15 a.m.
Not Just a Sale: The Role of Realtors in a Business Transition
Hosted by St. Lawrence County Chamber of Commerce
"Not Just a Sale: The Role of Realtors in a Business Transition"
This is a webinar for Realtors to learn more about the CBIT, and gain knowledge on ways to help in the successful sale or purchase of a business. Our ultimate goal is to work together to keep as many businesses open, employing people and filling our commercial spaces.
Panelists will include Dani Delaini from the Adirondack North Country Association (ANCA) to share information on the CBIT, what it does, how it can help Realtors in their sale, finding a buyer or helping a buyer find the right business. Dani will show off the new CBIT website.
The panel will also include a Realtor experienced in selling businesses, and an advisor from the Small Business Development Center who has personally been involved in buying and selling her own business and works with businesses to do the same. She will go over key information to include in the 'Sell Sheet' and other helpful tips.
What Now? Planning for Succession in Uncertain Times
July 8, 2020 at 10:00 am
Webinar featuring guest presenters from:
Bowers & Company CPAs, PLLC
Now Available on YouTube!
The session will address answers to the following questions posed by area business owners:
- - How do I preserve my business value during an economic downturn/pandemic?
- - How might this pandemic change the value of my business?
- - I have done a business valuation – is this something that I should now update?
- - What tax concerns should I be aware of if I sell my business this year?
- - What's the best way to structure a sale to minimize seller's tax liability?
- - How do I separate the value of the business from the value of our home as the home is attached to the business and on the same property? How do we add the value of the home to the business so the buyer could obtain financing?
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