Signs of the Times - February 2018 - 54

THE EXPERTS
SAM CLARK
Owner,
The Sign Shop
of Sheboygan,
Sheboygan, WI

explained that he had called upon his knowledge of business finances and, as well, had contacted and worked
with area business assistance organizations to arrange
acquisition and expansion monies. The SCEDC noted that
assistance had come through the Hiawatha National Bank
of Sheboygan, the City of Sheboygan's revolving loan fund
and business plan development assistance via the Small
Business Development Center (SBDC) at UW-Green Bay
and the SCEDC.
Of course, others chipped in and Clark said he got two
kinds of on-the-street advice: Do it and don't do it. "The one
thing that fueled me the most was that I wanted to be
part of the business community, to own my own shop, but
another driving factor came from those who said I would
fail. I wanted to prove them wrong," he said.
He did. Under Clark's leadership, the business demand
soon exceeded the expanded site's capacity. Today the company functions in a larger location that has allowed it to
expand into even more signmaking processes. And, last May,
Clark was awarded Entrepreneur of the Year in the 2017
Sheboygan Next Wave Young Professional Awards ceremony.
I asked, "Did you have sleepless nights?" Yes, he said,
because he not only worried about his own finances, but
recognized that the shop was supporting nine workers
and their families. He did not want to let them down.
Clark's advice for signshop buyers:
* Don't buy blind. Know the industry you're buying in to.
* The sign industry is complex - there are many areas of
opportunity, so select carefully.
* Once in, you'll be dealing with two primary challenges:
staying current with what you're doing and trying to
push new business opportunities as much as possible.
DRIVING FORCES
An entrepreneur, developer, businessman and past lecturer
at Tulsa Community College, Sager is best introduced
with a May 22, 2014 Tulsa World article headlined "Michael
Sager a driving force in downtown resurgence" that said,
"For more than three decades, Sager has been one of the
driving forces behind the resurgence of downtown, especially
in the Blue Dome District." It added that the resurgence did
54

SIGNS OF THE TIMES

FEBRUARY 2018

MICHAEL SAGER
Businessman,
developer of Tulsa's
Blue Dome district

not come easily. Michael is a lifelong friend and business
consultant, so, no surprise, I asked him three questions
regarding mergers and acquisitions:
Q: For a small business owner who has sufficient capital,
a business merger or acquisition is often seen as a
quick way to increase product offerings, markets and
sales. Would you agree or disagree, and why?
A: I agree with expansion through acquisition. You purchase
an existing network and market share. With fast moving
trends, timing is everything.
Q: Is it better to merge with another small business or
acquire it outright? Why?
A: Purchase. Ownership gives you full control of decisions
and you do not have to cope with the other owners who
have your money or differing opinions. You don't want the
tail wagging the dog.
Q: What do you see as unconventional risks (meaning
things your lawyer or CPA won't tell you) in joining
with, or acquiring, another small business to increase
market, sales and profits?
A: You may see dead areas or fat the previous owner or
shareholders didn't. This applies to all areas of admin,
market, methods and risk.
WOULD YOU?
I'll add that the best partnering business advice I ever
received was years ago, and from the father of a friend I
intended to enter with, into business. When we announced
our plan to his father, he looked at me and asked, "Would
you marry him?"
I remembered being surprised at the question and
stuttering, "What? Uh, no."
"Then don't do it," the older man said, "because if you
go into business with him it will be about difficult decisions,
money and opposite opinions, just like a marriage."
Obviously, I recommend an outright purchase or acquisition - once you've searched the closets and pried up all
the floorboards.

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