Is your business in trouble? We can help.
Do You Need Help?
If you can say yes to any of the following, you may need a Business Rescue:
- Sales have fallen and can no longer support the cost structure
- Costs have spiraled out of control
- Competition has increased and taken market share
- Key employees have left who you have been unable to replace
- The business has not kept up with technology
How to Qualify
In order to be eligible, your business must meet all of the following qualifications:
- Have been in business for at least 6 months
- Serves existing customers
- Sells a product or service that is currently marketable
- Employs at least 1 person full-time
- Is an LLC, S-Corp, or sole proprietorship
- All facets of the business are legal and follow applicable laws
Ready for a Rescue?
If rescue sounds right for you, you need to apply now!
How it Works
- Excelsior Institute will interview you to assess your business's qualifications to be in the program. You must provide all information about the business that is requested. This will include looking at the “books” and any other financial information that is available.
- We will assign a team of experts who have substantial qualifications and experience in the areas requiring help.
- The business will agree to a series of changes that include:
- A split of equity with the designated parties referred to as advisors.
- A split for decision making authority with the advisors.
- Investment from 1 or more outside investors depending on if and how much new capital is needed.
- A minimum of a 3-year agreement to the terms above.
The advisors will own some portion of the business, and will receive a share of profits, in return for their work to rescue the business. This is a great deal for you, considering that the advisors have “skin in the game.” If the business does not grow and return a profit, they do not get paid. In some instances where an extreme amount of work is required by the advisors, there may be a small salary required.
When it comes to decision-making, there is usually a split between the entrepreneur(s) and the advisors. Usually we do not allow any single person full control. There will be no individual with more than 50% of the decision-making authority. It will take a minimum of 2 people to agree on a decision that is contested. It can be any two people that are a combination of the entrepreneur(s) and advisors.
- The new business structure is governed by the Targeted Investor Preferred Payback System (TIPPS) structure, which is a proprietary ownership plan created by Greg Noe, an officer in the Excelsior Institute. TIPPS is designed to bring in help to the business, make it attractive to the advisors, attract investors with a favorable payback, and ultimately return the business to the initial owner.