The Manufacturing Collective was formed out of a need for an alternative to the traditional model of business exit or succession planning, which often relies on the sale of the company through a business broker. For small companies, those sales can take often cost tens of thousands of dollars in fees, and take years to prepare. Moreover the data shows that somewhere around 70% of for-sale privately owned companies never find a buyer. The collective provides a more flexible and customized approach that is tailored to the specific needs of each member company but consists of installing new managers and handling 3 key functions 1. Professional Management 2. Digital Transformation 3. Robust Standard Operational Procedures Documentation. These 3 areas are what we have found to be the most important for a company's financial success and continuity.
NEW YORK, July 30, 2022 /PRNewswire-PRWeb/ -- The Manufacturing Collective is a professional management company, managing a group of privately owned manufacturing companies that have come together to create an alternative path to business continuity. The collective provides a forum for sharing best practices, resources, and knowledge so that member companies can continue to operate successfully in the face of challenges such as owner retirement, the sudden loss of a key man, external competition, disruptive technologies, and changing customer demands.
If an owner is thinking about retirement and doesn't want the headaches and tax burden associated with a business sale, but also doesn't have heirs who want to manage the day-to-day of the business The Manufacturing Collective can step in and provide the professional management, resources, personnel, and knowledge needed to keep the company running smoothly without the day to day involvement of its owners. By pooling the resources of many small companies the Manufacturing Collective can provide everything from operational efficiency to reduced costs. For many owners partnering with The Manufacturing Collective might be an intermediate step to "clean up the business" for a sale or a part of an estate plan to keep a running business in the family for the next generation.
In the event of a sudden loss of a business's Key Man, the Manufacturing Collective can provide support in terms of operations, succession planning, and management recruitment. And finally, with disruptive technologies and changing customer demands, the collective can provide resources and knowledge to help companies adapt, modernize their approaches and continue to be successful.
The Manufacturing Collective is an important resource for the manufacturing sector. By pooling resources and knowledge, the collective can help companies overcome challenges and continue to operate successfully. The Manufacturing Collective is not just a group of companies, but a community of like-minded individuals committed to ensuring the continued success of each privately owned company that is part of the Collective. If you are interested in learning more about the Manufacturing Collective or becoming a member, please visit our website or contact us today.
Media Contact
Alexander Bartosch, Manufacturing Collective, 12017937379, [email protected]
SOURCE Manufacturing Collective
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