North America

Success Story

Owner seeks to transition business to long-time employees

The owner of an automotive recycler wanted to retire after 40 years in business but he did not want to sell the company, preferring instead to turn it over to long-time employees. So, ROCG’s Jacksonville office created a transition plan for grooming the owner’s successor and bolstering the company before the transition. ROCG’s work reinvigorated the owner and his team. Now the company is well positioned for future success.

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The Business Was

  • An automotive recycler that had outlasted and outperformed numerous local competitors by establishing a niche within a competitive industry
  • Its owner was well known as a pioneer in the industry and had strong relationships with customers and suppliers

Problem

  • Business had stagnated
  • Company lagged newer competitors in technological and operational efficiency
  •  Owner had devoted less time and energy to the business

Solution

  • Established standard operating procedures for key processes
  • Identified key performance indicators and ways to improve
  • Improved morale through team building initiatives involving owner, managers and employees
  • Created plans  to use technology to increase sales and operate more efficiently
  • Transferred responsibility for key relationships from owner to successor

Results

  • Implementing systems and processes improved operational efficiencies
  • Turning parts over more quickly increased profitability
  • Structured training for successor put owner on schedule to retire when planned

Summary