SVA's Entity Restructuring Expertise Benefits Manske
Fred and Pat Manske, owners of the Manske companies (Manske Machinery Service, Manske Machinery Inc., and Manske Property Management, knew they needed assistance with their financial and operational processes. They were running multiple business units under one company since 1989, with very little separation between the payroll and operating expense financials. “We were preparing to purchase a $4.5 million rental property,” says Fred Manske. “Our bank told us we needed to move away from our small accounting firm and work with a firm that would get our financials in order. They recommended SVA.” Fred quickly realized that SVA was respected in the banking community and that credibility would have a big impact on their ability to grow their companies. “We hired SVA and have never looked back,” continued Fred. “It was one of the soundest business decisions we have made.” SVA suggested a restructure of the business entities which maximized tax benefits for each company.
SVA drilled down into their accounting needs and recommended and installed financial accounting software that gave them the reporting needed to analyze how each entity is performing. They can now review performance down to each operational area repair technician as well as each rental unit. “We now understand where and when we are making money and what areas need improvement,” says Fred.
SVA helped establish the sales order and proposals process as well as the property management fee structure. “With SVA’s guidance and support, we have more than doubled our service technicians and increased our rental units by 54%.”
The Manske companies are a family owned business and SVA was instrumental in developing a succession plan that will ensure the business will transition to future generations. Fred jokingly says, “SVA doesn’t always tell us what we want to hear, they provide the advice we need to grow our business. While we don’t always like what they say, we know it is sound expert advice. They are as committed to our success as we are. Thanks to SVA we are poised for aggressive future growth.”