Beauty Link - Volume 4, Issue 4 - (Page 30) CONSIDER EXPERT PERSPECTIVES ON SELLING A SCHOOL BY SUSAN MILLER J ust as no two schools deliver exactly the same educational experience, no two school sales are completed in precisely the same manner. However, experts agree there are some common steps school owners should follow when considering selling their business. BeautyLink spoke with attorney Ron Holt of Dunn & Davison, LLC, and Todd Gates of Spectra Advisors about questions school owners and shareholders frequently encounter when considering a sale. Both gentlemen were panelists at the AACS Convention session, A Beautiful Business: How Beauty Schools are Selling in Today’s Market. e? l a S When it comes to selling a school, where should an owner begin? Todd Gates: A majority of school owners is critically important when it comes to protecting against indemnification. have little or no experience selling a postsecondary education business and often don’t fully understand all that the process entails. It is critical that owners consider the entire sales process and align with education-specific experienced advisors including a broker/investment banker, accountant and lawyer. Ron Holt: Schools exist in a complex regulatory environment, so anyone selling an accredited business should have good counsel to ensure they’re well-advised on regulatory matters. For any school participating in federal aid programs, counsel What are some resources to assist with the sales process? Todd Gates: The best resource is a trusted colleague who has recently sold a school. Owners can also attend industry conferences to connect with advisors. AACS workshops, state-sponsored education meetings, regional fi nancial aid conferences, and programs presented by national organizations such as the Association of Private Sector Colleges & Universities (APSCU) are good forums. How do I begin assessing the market? Ron Holt: Examine the buy/sell activ- ity in markets. Learn who is purchasing schools and in what areas. A small school in a rural area might not be interested in purchasing an urban school but might be interested in acquiring schools in other rural locations. Todd Gates: Once you have selected an advisor, have a candid discussion to determine how much your school might be worth in the current market. Regulatory- and compliance-related changes over the past year or two have had a significant impact on how the investment community values potential acquisitions. A preliminary discussion about the specific business will help owners manage their valuation expectations and avoid starting the sales process with unrealistic or unattainable liquidity goals. 30 | B EAU TYLINK | DE STINY | 2012 http://www.naylornetwork.com/bsa-nxt/ Table of Contents for the Digital Edition of Beauty Link - Volume 4, Issue 4 Message from the aacs president and cea co-chairs Workings of Washington Meet Your New CEA Co-Chairs: Carol Woodard and Dan Cavanagh Interrupted and Distracted: Five Ways to Get Back on Track And then there’s compliance Going Mentor: Paying Your Success Forward A student’s perspective Deliver Extraordinary Education: Building Your Dream Team Considering a Sale: Expert Perspectives on Selling a School Multicultural corner Diversifying Your Offerings: One School’s Approach Getting Ahead: 2013 Trends in Hair, Skin and Nail Education Route to Succession: Planning the End of an Entrepreneurial Journey Practical Beauty Beauty changes lives Strategic Success: Planning, Implementation and Accountability Superstar graduates What Makes a Dream Job: Fulfillment Is Just Around the Corner The Video Test: Improving Behaviors with Evidence AACS listserve q & a Mastering Body Language: Six Nonverbal Cues to Use in the Classroom The AACS Annual Convention & Expo Photo Spread Associate member profiles: shears/clippers Join cea/aacs People & places New school members Upcoming 2012-2013 events Index to advertisers Advertisers.com Beauty Link - Volume 4, Issue 4 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0113 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0412 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0312 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0212 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0112 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0411 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0311 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0211 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0111 http://www.nxtbook.com/nxtbooks/naylor/BSAQ2011MediaKit http://www.nxtbook.com/nxtbooks/naylor/BSAQ0410 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0310 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0210 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0110 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0409 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0309 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0209 http://www.nxtbook.com/nxtbooks/naylor/BSAQ0109 http://www.nxtbookMEDIA.com
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