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$35 million revenue; private; $8.0 million credit facility
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Background:
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This franchisee operator owned several different franchise concepts. The complexity
of managing this multiple concept operation across broadly dispersed geography resulted
in poor overall performance and caused serious cash shortage problems. Financial
management systems did not enable a clear identification of which stores or food concepts
were under-performing. |
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Result:
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Wimmer Associates undertook a comprehensive store-by-store analysis and developed
an action plan. The plan was implemented and management gained the necessary management
tools to improve the Company's results and also provide the bank with the necessary
reporting requirements. Poor performing stores and operations were closed or sold.
The improvement plan has remained on target and the
owner-management's value is restored.
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