In this episode of Commitment Matters, Mary speaks with Marcus Hunt and Wayne Stanley from Title Success. You can contact Wayne and Marcus on the Title Success website.
During their conversation, Marcus, Wayne or Mary mentioned:
- Title Success advises title companies on mergers and acquisitions (M&As) and makes valuations based on operations and business management. Learn more about what Title Success does here.
- Marcus says finding talent is one of the hardest parts of mergers. Here are some strategies on hiring and retention during M&As.
- Wayne and Marcus say that many business owners are trying to get out of ownership, however, they don’t want to necessarily leave the industry or their company. Title Success helps people follow through with their exit plans.
- The number of mergers and acquisitions happening specifically within the title industry continues to rise. According to the 2022 Voice of the Title Agent report, 1 in 5 title companies sold, merged or acquired with other businesses last year.
- Here’s an article that explains why M&As are rising within the title industry and has an outlook on future trends.
- EBITDA stands for Earnings Before Interest, Taxes, Depreciation and Amortization. It measures a company’s profitability.
- Communicating your business plan is critical for both sides in a merger or acquisition. Marcus and Wayne say this is where the biggest misunderstandings happen, especially between owners and employees.
- Marcus and Wayne advise that before you meet with a consulting company and discuss a merger or acquisition, come up with a list of goals you’d like to see play out in your business.
- It’s never too early to meet with a business consultant, even if you don’t plan on consolidating. Title Success offers several business planning services. Find a full list of them here.
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