State of the City 2019
Great things continue to happen…
STATE OF THE CITY
The Chamber was honored to once again host Mayor Hanwell as he presented his annual State of the City address to the membership. Medina is an amazing place to live, work, and play.
The Mayor’s testimonials and facts helped reinforce that feeling.
Did you know that investment in commercial and industrial economic development increased from $116 million in 2017 to $154 million in 2018?
Great things continue to happen in this amazingly collaborative community of ours!
Hope and Healing
Hope and Healing Survivor Resource Center
WELCOME NEW MEMBERS
Welcome to our newest members
Hope and Healing Survivor Resource Center
696 East Washington Street
Medina, OH, 44256
330-764-8635
hopeandhealingresources.org
The mission of the Battered Women’s Shelter is to lead the community in the prevention of domestic abuse by providing emergency shelter, advocacy, and education throughout Summit and Medina Counties in an effort to break the cycle of abuse and help promote peace in every family.
The Rape Crisis Center of Medina and Summit Counties is committed to ending sexual violence through education and awareness, advocating for all those affected by this crime through empowerment and support.
Rick Roush Honda
Welcome Rick Roush Honda
WELCOME NEW MEMBERS
Welcome to our newest members
Rick Roush Honda
3157 Medina Road
Medina, OH, 44256
330-725-3999
rickroushhonda.com
Honda Automotive Dealership located in Medina, Ohio servicing Northeast Ohio. New Honda, Pre-Owned Vehicles, Parts, Accessories & Service.
Lodi Lumber Co.
Welcome Lodi Lumber Co.
WELCOME NEW MEMBERS
Welcome to our newest members
Lodi Lumber Co.
111 Wean Street
Lodi, OH, 44254
(330) 948-1311
lodilumber.com
At Lodi Lumber, you get what you pay for not only in quality, but also in the integrity of dealing with a company that has served the surrounding communities for 125+ years, also being family owned!
Community Assessment & Treatment Services
Community Assessment & Treatment Services
WELCOME NEW MEMBERS
Welcome to our newest members
Community Assessment & Treatment Services
8411 Broadway Ave
Cleveland, OH 44105
(216)-206-5212
communityassessment.org
Community Assessment & Treatment Services promotes the social justice needs of the community by providing high-quality, cost-effective, evidence-based interventions that comprehensively address the chemical dependency and behavioral health needs of a diverse clientele.
Blue Heron Brewery & Event Center
Welcome Blue Heron Brewery & Event Center
WELCOME NEW MEMBERS
Welcome to our newest members
Blue Heron Brewery & Event Center
3227 Blue Heron Trace
Medina, OH 44212
(440) 870-2583
blueheronmedina.com
Set in the beautiful undulating valleys of Medina County, Blue Heron Event Center offers world-class menu design, exceptional service and stunning facilities for events big or small. Whether you are planning a wedding, business meeting, executive retreat or social gathering, our staff will provide the experience and attention to make your event spectacular.
DataKloud
Welcome DataKloud
WELCOME NEW MEMBERS
Welcome to our newest members
DataKloud
3637 Medina Road 345D
Medina, OH 44256
330-564-2940
datakloudit.com
Learn more about our cloud solutions and services at DataKloud that trim your technology costs, make your business more efficient, and keep your data safe.
Selling or Transitioning Your Business
Preparing your business for the future is a journey, not a destination.
Securing your business succession plan before it's too late is just as valuable as growing your business. Your succession plan is your retirement or exit strategy, and each business owner has his/her unique path. Starting a succession plan early and including business advisors, such as attorneys, accountants, investment bankers, or financial planners will help ensure a successful and smooth succession path.
There are several succession options. This article focuses on the 2 most common:
Generational/Internal Succession Planning: Transferring your business to family or key employees
Third Party Sale: Selling to a strategic buyer in the industry or a financial buyer (i.e. private equity firms)
Each of these paths have their own unique planning strategies, and pros and cons to consider in order to protect your business from a journey down a rocky road in the future.
Generational/Internal Succession Planning: This path requires early planning to bring the next generation into "the know" regarding operations and strategies of the business. The key issues to consider for this type of succession plan are:
Identification of a family member or employee that is interested in taking over the business. If your goal is to maintain the Company’s success, be objective regarding analysis of talent and respectful of other’s professional desires.
Consider bringing family/employees along over a number of years by promoting them to officer positions and allowing them to "buy-in" over time.
Start engagement early to permit successors to learn while the senior level is still engaged.
Third Party Sale: Don't worry if you don't have a family member or key employee to transition your business. Many business owners sell to a third party that is either a strategic buyer (often a competitor that can achieve synergies and grow through the purchase) or a financial buyer. Financial buyers typically are private equity funds that are looking to grow the business with a plan of selling in 3 to 5 years. This is often a way for a business owner to get a "second bite at the apple" by investing in the fund and working as a consultant until the business is re-sold. The key issues to consider:
A buyer (strategic or financial) will want to see at least 3 years of financial performance.
Use your attorneys to ensure your legal matters and contracts are complete – engaging attorneys early in the process helps keep contracts organized and negotiated properly and your financial records up to date; this will help to streamline the sale and keep diligence costs and stress levels low during the sale process.
You also may want to consider using an accountant to assist with business valuation to ensure that your net sales proceeds will be sufficient to support your non-working lifestyle or your next venture.
Additionally, you could consider hiring an investment banker to run a process to increase exposure to potential buyers, effectively raising the value of your business.
Preparing your business for the future is a journey, not a destination – so engage the right team to help you choose the right path!
Dan Calvin
Attorney, Critchfield, Critchfield & Johnston, Ltd.
Dan has significant experience in assisting clients in the purchase and sale of existing businesses, as well as the formation and dissolution of corporations, limited liability companies, and partnerships
CQ Printing
Welcome CQ Printing
WELCOME NEW MEMBERS
Welcome to our newest members
CQ Printing
695 West Liberty St
Medina, OH 44256
(330) 722-1800
cqprinting.com
40 years +, Design, commercial print collateral, labels, apparel, signage.
Five Star Painting
Welcome Five Star Painting
WELCOME NEW MEMBERS
Welcome to our newest members
Five Star Painting
3449 Symphony St.
Cuyahoga Falls, OH 44223
330-217-5188
fivestarpainting.com/medina
Our VETERAN OWNED and operated company is growing and we pride ourselves in working with quality painting crews!
Engage Virtual Range
Welcome Engage Virtual Range
WELCOME NEW MEMBERS
Welcome to our newest members
Engage Virtual Range
5035 Beach Road, Suite B
Medina, Oh 44256
(330) 591-4111
engagevirtualrange.com
Engaging virtual gun range is for building skills, accuracy and confidence.
A safe and clean environment to train and test your shooting accuracy and tactical skills. Come learn safe techniques in a non-judgemental setting.
Ringstmeier Earns her IOM Designation
Congratulations to Jaclyn Ringstmeier, Executive Director on earning her IOM designation!
Institute for Organization Management, the professional development program of the U.S. Chamber of Commerce Foundation, is pleased to announce that Jaclyn Ringstmeier, IOM, Executive Director of the Greater Medina Chamber of Commerce has graduated from the program and has received the recognition of IOM. Awarded to all graduates of the Institute program, the IOM Graduate Recognition signifies the individual’s completion of 96 hours of course instruction in nonprofit management. In addition, participants can earn credit hours toward the Certified Chamber Executive (CCE) or Certified Association Executive (CAE) certifications. Nearly 1,000 individuals attend Institute annually.
“Institute graduates are recognized across the country as leaders in their industries and organizations,” said Raymond P. Towle, IOM, CAE, the U.S. Chamber Foundation’s vice president of Institute for Organization Management. “These individuals have the knowledge, skills, and dedication necessary to achieve professional and organizational success in the dynamic association and chamber industries.”
Since its commencement in 1921, the Institute program has been educating tens of thousands of association, chamber, and other nonprofit leaders on how to build stronger organizations, better serve their members and become strong business advocates. Institute’s curriculum consists of four weeklong sessions at five different university locations throughout the country. Through a combination of required courses and electives in areas such as leadership, advocacy, marketing, finance, and membership, Institute participants are able to enhance their own organizational management skills and add new fuel to their organizations, making them run more efficiently and effectively.
Institute for Organization Management is the professional development program of the U.S. Chamber of Commerce Foundation. It is the premier nonprofit professional development program for association and chamber professionals, fostering individual growth through interactive learning and networking opportunities.
