EIGHT FACTORS THAT CREATE MAXIMUM VALUE FOR YOUR WASH

Most of my weekends from the age of 12 through 20 were spent working with my Dad in our family business; Auto Valet Car Wash in Trento NJ. I remember him saying that a car wash was like a sacred item that someone will always be willing to pay you more than what you paid for it. Those were the days when you could buy a wash with $50,000 down and the seller would hold a note for another 15 years. Today, this Industry is witnessing what most old timers would never have imagined – full service car washes selling for 6 M + dollars! An excellent Exit plan does not just plan for the involuntary tr...
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Build A Guaranteed Income Stream

By Lou August 2013 When I was a kid it seemed like Uncle Ray was always the happiest guy at the family functions. That’s because he retired at an early age with a guaranteed pension. Pensions used to form the third leg of a good retirement plan along with Social Security, and savings. But today, only 19% of the work force has a pension to speak of. Employers traded expensive Pension Plans for 401K’s to become more competitive and profitable. Many companies are even suspending generous matching programs. Even government pensions are diminishing as state budgets have been strapped for revenue d...
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Succession Planning 102

If you are going to exit your business some day you must answer a very fundamental question: What is my business worth? Sounds like a simple and straightforward question but the answer can vary tremendously. Valuation of a closely held business is more art than science. The first to place to look for guidance (other than your CPA) is the IRS, (believe it or not!). In 1959 they published Revenue Ruling 59/60. The revenue ruling is still used by many accountants and business appraisers today. It is useful as a starting point and consists of the following: - The nature of the business and it...
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Financial Protection

It is hard to imagine the impact of what a hurricane like Katrina could do to Sarasota. We have been in the paths of many hurricanes before and have escaped to a large extent “unscathed”. But what would happen if a devastating hurricane hit Sarasota? What would it do to the equity in your home? I preach to my clients about not paying off your home mortgage. Although having no mortgage is a desired position, you are giving up control and liquidity of your money. Having cash in a safe side fund to write a check and pay off the mortgage is a more advantageous position. Hurricane Katrina reinfo...
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Succession Planning 101

Every business owner should be thinking about their eventual departure from their business because they are going to exit their business  one of two ways; Voluntarily or Involuntarily. Voluntarily – you will be able to transfer the business to family members, key employees will buy you out or you will sell it to a third party for maximum value.  Involuntarily – you will be disabled, become critically ill or die prematurely before your exit plan is ready.  So the universal truth is that you will exit your business some day.  In order to do so successfully you must create an exit strategy as ear...
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The Golden Handcuff

Imagine your key employee comes to you and tells you he is leaving. He has been hired by a competitor. After you get up off the floor you ask yourself what could I have done to keep my key employee happy and satisfied? You paid him a good salary, gave him three weeks off for vacation, provided health insurance, a 401K plan and yet he still left. Other than make him a stockholder or partner, what else could you have done? In today’s competitive environment, business owners are seeking ways to reward their key employees in order to keep them motivated and retain their services. A Non-qualified D...
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Do you have an exit strategy?

Remember the last time you entered a multi story building. On or close to the front door is a sign that displays the exits even before you entered the building. It is important to know the exit strategy before you enter the building because of the unexpected calamities that can happen at any time. But what about your business? Every business owner, whether it is your first day in business or you are celebrating your 25th anniversary, needs an exit strategy. I tell my clients that every business owner should be thinking about their eventual departure from their business because one of two event...
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What We Do

The team at Rendemonti Wealth Strategies desires to be your financial lifeguard, helping you navigate the turbulent waters of accumulation, distribution and conservation of your assets. You and your assets are vulnerable to many wealth eroding factors such as: Disability Stock Market Volatility Premature Death Lawsuits Taxation and Inflation Planned Obsolescence Lost Opportunity Cost Technological Change Louis Rendemonti and his knowledgeable team have the experience necessary to help protect your assets and grow your wealth.
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