Industry and Local Benchmarking
Purchase and Grow Business
Transition the Business
FLOOR360 is one of the Midwest’s most successful residential and commercial flooring companies providing unique high-fashion designs as well as value pricing. Bob Tobe, CEO, credits the success of the business to his dedicated leadership team.
Bob was looking to purchase a business and was introduced to SVA by a friend. SVA provided some opportunities and facilitated the transaction when Bob purchased a small flooring business. “We purchased the company in 1998, which had sales of less than $1 million per year. This year our sales were over $24 million. SVA has been an integral part and a trusted advisor for our business. They helped me hire our CFO, who is now a current owner, and establish our accounting department.”
SVA helped Bob with compensation models, profitability goals, and budgeting to meet those goals. Using industry benchmarks and adapting them to the local economy, the information SVA provided gave Bob and his leadership team an outside viewpoint on what they should be striving for. This was invaluable data to help determine how the business was doing and what they need to do to grow it further.
“Something I didn’t think was an accounting firm’s function was their help with the transition of the business to the next generation of ownership. I was wondering how I would get this transition done. I wanted to keep the culture and the people and SVA were sensitive to that. The SVA team gave me a few options and suggestions for the transition and we came up with a great plan, which they helped execute. I can now happily say that the company is doing really well and I am enjoying the transition into retirement. I think it was a win-win,” says Bob. “SVA has been a trusted partner to help us grow and transition our business to the next generation of ownership. I would highly recommend SVA.”
"SVA helped me find a business to purchase, grow the business for 22 years, and transition the business when I was ready to retire."