(This article first appeared in the September 2016 print edition of Convenience Store Decisions. Click here for the PDF version as it appeared in the magazine.) If you have heard me speak at a NACS (National Association of Convenience Stores) event or a state association convention, I sometimes refer to the ‘1/3, 1/3, 1/3 Rule,’ […]
Category: Blog
Is there Power in Brands? What is Your USP
(This article first appeared in the July 2016 print edition of Professional Carwash & Detailing. Click here for the PDF version as it appeared in the magazine.) In my line of business, I travel a lot therefore I constantly find myself in areas that I am not familiar with. For a lot of people this […]
The Biggest Lie Operators Tell Themselves
If you have ever heard me speak at NACS or one of the State Association Conventions I have spoken at, you will hear me talk about the 1/3, 1/3, 1/3 rule I learned many years ago when I was operating my stores. Since discovering this rule I have seen it multiple times in my own […]
When is the Best Time to Sell Your Business?
By: Tim McDaniel, CPA/ABV, ASA, CBA Principal, Director of Business Valuation Service, Rea & Associates Factors to Consider in Timing a Business Sale Timing is the single most important factor in selling a business. To understand why, you must first understand what usually drives the ultimate price paid for a business. The best time for […]
To Go or Grow: Video NACS 2010
The following video was part of a presentation I gave at the 2010 NACS show in Atlanta, GA this October. The topic was: “To Go or Grow? How to Know When it’s Time to Buy or Sell”. I was fortunate to share the stage with two great operators and industry veterans, Chip Lavigne and Rahim […]
What is Your Trick Pony?
I have been in business for quite some time and I have been around the block a few of times too. With this amount of experience, it is sometimes easy to think that you have just about heard or seen all there is to hear or see. But the other day I had a client […]