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Craft

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Financial advisors who serve business owner clients know how critical it is for these clients to have an exit strategy from the business. The business is often their largest asset or at least a significant component of their wealth. It’s also a key part of the business owner’s identity in many cases. 

Here are some considerations in crafting a business exit strategy.

How will the ownership of the business be transferred?

There are a number of alternatives for transferring the ownership of a business. Your help can be essential to your client in deciding the best course of action for their situation. 

Outright sale to a third-party

This entails selling the business to an outside entity. It will typically be a cash sale. The owner will generally exit the firm immediately or after a transition period. 

Transferring ownership within the family

This might be appropriate if there

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Craft beer festivals provide small brewers with a unique marketing opportunity. With most of those festivals canceled or postponed because of the coronavirus pandemic, brewers now wonder how they’ll get their name out.

Zaftig Brewing Company sees a noticeable sales bump in the weeks following a beer festival, owner Jim Gokenbach said. People who discovered Zaftig at the gatherings come to the brewery’s Worthington taproom to see what else it has to offer.

Zaftig won’t see those bumps this year, as nearly every central Ohio outdoor festival, including those intended to showcase the region’s craft beer, have been canceled or postponed because of the coronavirus pandemic.

Brewers said they mostly break even at festivals but gain an invaluable marketing opportunity, especially for small operators who don’t distribute their beer widely.

Around 85% of Lineage Brewing’s business comes from its taproom, said Michael Bryne, who co-owns the Clintonville brewery.

“Without the

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Michaels (MIK) is a company which operates in a special corner of retail and while the company was treated like the wider category, shares have been performing well recently. This has happened for the right reasons as its specialty has just become quite a bit more popular as of recent.

As 2020 is such a special year, my base case starts with the 2019 numbers, a year in which Michaels was seeing some troubles as lackluster operating performance resulted in real pressure on the share price amidst a very leveraged balance sheet, in itself resulting from past private equity ownership and too aggressive share buybacks.

The Base Case – 2019

Mid-March, when the Covid-19 outbreak was in full swing, Michaels reported its 2019 results. The company reported a 3.8% fall in full year sales to $5.07 billion of which half the decline was explained by a decline in comparable sales

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Craft Beverage Week to begin Sept. 12

Celebrate Frederick will kick-off Craft Beverage Week, sponsored by Homegrown Frederick, this Saturday, Sept. 12. The week will feature promotions, specialty drinks and small events throughout many of the the county’s distilleries, breweries and wineries. Promotions end Sept. 20.

The official Craft Beverage Week flyer is available through the Celebrate Frederick website. Participants who get signatures at eight or more locations will receive prizes donated by local businesses.

Plamondon promotes Gutierrez

Emily Gutierrez has been promoted to director of sales at Homewood Suites by Hilton Frederick and Home2 Suites by Hilton Frederick.

Gutierrez has been with Plamondon Hospitality Partners since 2016 when she joined as a sales coordinator for the Frederick Mariott hotels sales team. She was promoted to sales manager in 2018.

“Emily has a proven track record of building strong relationships with our business customers and meeting their distinct needs,” said

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CLOSE

Orchid Island Brewery co-owner Alden Bing and head brewer Brandon Lojewski are committed to using locally grown citrus for their IPA and sour beers.

If you get an opportunity this fall, ask candidates running for office how serious they are about helping local small businesses flourish, especially in light of COVID-19.

Then ask them what they’ll do about archaic beer laws in Florida that have crippled small manufacturers — including one of my favorites.

Alden Bing didn’t create Orchid Island Brewery to run a restaurant on Vero Beach’s Ocean Drive. He started his business to brew beer showcasing Indian River County’s citrus legacy, then sell it to patrons looking for a high-quality product.

Beers such as Star Ruby and Black Orchid were a hit with patrons who hung out in his tap room. They came from near and far to savor beer made with water that comes from condensing

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