While the specifics of PR agency acquisitions vary considerably from one situation to another, there’s one constant that’s true of all potential PR agency M&A deals. If the chemistry feels right after an initial phone call or meeting between the two parties, buyers invariably want to get down to business.…
I attended the 2019 PRSA Counselor’s Academy spring conference in St. Petersburg, Fla. It was an enlightening experience to be among a group of about 150 mainly younger entrepreneurs who own PR agencies. Some came from as far away as Alaska to attend the 3-day conference. They were there to…
With the winter season upon us, there’s perhaps no better time to examine the mysterious phenomenon of what we refer to as “Cold Feet Syndrome,” a sometimes puzzling set of circumstances that cause a surprising number of PR agency CEOs to back out of a previously-agreed-to sale of their firm…
If you’re the CEO of a small-to-medium sized public relations firm, it’s very possible that a good part of your thinking about the future growth of your agency focuses on formulating a strategy for the sale of your firm someday. That day may not come this year, or in the…
TSG PR Agency Owner Digital Marketing and Media Survey FOR IMMEDIATE RELEASE Contact: Rich Jachetti rich@theartstevensgroup.com New York, NY. August 2017 – Fifty-five per cent of U.S. pr agencies doing $4 million and under a year in net revenues claim they don’t have the requisite in-house capabilities to keep up…
Here are 10 mistakes a seller should avoid at a first meeting with a buyer. 1. Don’t be late for the meeting. Allow time for bad traffic, subway/bus snafus and office building security clearance. 2. Don’t say you’re “considering” selling your firm but haven’t made up your mind. If you…
A good friend (I’ll call him Dave) owned a public relations agency for about 8 years and on the surface it appeared as if his agency was doing fine. Or so I thought. One day he confided in me. “I love having my own business,” he said. “But I can’t…