CLIENT: The Roche Organization
- Eliminate or minimize a $20,000. per month negative cash flow
- End a partnership that no longer served any of the parties, the various business holdings were geographically spread over the country in over five states and we're complicated to manage.
- Do an in-depth analysis of the each property
- Determined where the money was
- Determine what was important to all parties/partners
- Compile possible solutions to meet everyones needs while providing my client with the exact results he wanted.
RESULTS: 30 day discovery process, 6 month implementation process, completing over sixty 1031 exchanges,..After 18 months from the beginning stage the $20,000 per month negative was turned into a $20,000 a month positive cash flow. My client was now sole stockholder/owner of the properties we had traded for, with the $20,000 a month positive cash flow..His partner[s] got their needs met.
CLIENT: Freedom Rent- A- Car
BUSINESS NEED: Determine how to launch a start up franchise with no prior rental car industry experience.
SOLUTION: Do the discovery process to analyze and select the most appropriate franchise to meet our needs, attend the intensive training program, honor the experience and expertise of the franchise organization, work the systems everyday and look for ways to innovate and improve the systems, be a pain in the butt franchise by constantly calling the president and other officers to ask what else can I do? Call other franchisees that are the fastest growing and network with them to incorporate their ideas. Do the important things everyday. I tried every idea that was shared with me.
RESULTS: After calling Neil, the president of Freedom Rent-A-Car every month for ten months asking who's your fastest growing franchisee so I could call them to pick their brain, Neil said you are! We had gone from 0 to 54 cars in ten months. I was asked to be the featured speaker at their first national convention. We hit breakeven in just 6 months. In addition to our main location we opened 2 satellite locations 1 in the next town and one at Stapleton International Airport in Denver. I eventually sold out to my partner.
CLIENT: Auto Pawn America
Auto Pawn America started as Corbett Auto Brokers in 1987. started a short term collateralized loan dept. in 1991, called Auto Pawn America [APA]. for about 5 years the APA side just grew with no attention or effort from us. Did an in-depth analysis of the 2 depts, saw tremendous potential on the APA side and began defining it. In 2001 began totally systemizing every aspect of the business and began to measure all aspects of the business. Completed the systemization in a year; normally an 18 month to 2 year process. I was able to leave the business in 2003 to pursue other opportunities. I haven't spent a full day in the business in over two years yet the business continues to improve due to the solid systems and foundation in place. I am still the majority stockholder. We just opened our first satellite office in the neighboring city. I get a daily report that tells me on one page the critical information that I need. Our forecast projects 2 more satellites in the next 24 months. Our long term forecast is for 12 to 15 satellites on the front range of Colorado. After getting organized which eliminated the chaos we completed phase 2 , a business development process we called "building the business". It gave us a three year plan with very clear objectives that led to our expansion into fort Collins, Colorado. Phase 3 is the exit strategy; we will expand into other states, franchise or license the business or sell to a buyer willing to pay our price.
CLIENT: Loveland Design Center
BUSINESS NEED: A 30 year old family owned business that provided a living but no significant profit. In addition, the owner worked 60 to 70 hour weeks and did everything from drive the forklift to cleaning the toilets to purchasing, sales, etc.,etc.,etc. The culture was also unhealthy and overall team morale was very low.
SOLUTION: In 1999 business development was started in earnest. BEST PRACTICES were the main focus with an increase of 6x the previous best year bottom line. A total business development plan was begun which included, phase 1 systemizing, creating order out of chaos, phase 2 building the business, a strategic plan, a mission statement, values, 6 high level objectives, strategies and action steps to achieve the strategies which achieve the objectives. The company continued to bank good profits, make mistakes, measure everything and focus on the business development plan.
RESULTS: For the past 5 years the co. has increased the average bottom line by a factor of 3.5 from the previous average. The owner works an average of 35 to 40 hours a week. She takes 3 to 4 weeks vacation per year, the co. culture has improved immensely, which reflects a business that is headed towards absentee ownership.
"I'm in amazement everyday what Corbett Consulting has done in my life. It's a joy to come to work. This intervention has given me freedom- physical, financial, emotional and spiritual freedom. Phase 2 is in the process of being completed, Phase 3 outline is completed, phase 3 is the exit plan. It is exciting exploring the many options
- Become an absentee owner with a general manager,
- Sell the business to family members,
- Sell to employees or to a cash buyer for $3.5 to $4 million dollars."