LBM Finance & Development Week continues
LBM Finance & Development Week continues Tuesday and Wednesday, as HBSDealer explores key topics that are shaping the top and bottom lines of companies in the LBM industry.
The thumbnail schedule of events looks like this:
• Monday, March 6. State of the Industry;
• Tuesday, March 7, The Importance of Understanding Valuation; and
• Wednesday, March 8, Trade Credit and A/R: How to Account for Price Fluctuations in an Uncertain Market.
All webcasts begin at noon (Eastern time zone). Register here to join the live webinars.
On Monday, Grant Farnsworth, president of the Grant Farnsworth, president of the Farnsworth Group, joined Ken Clark, editor of Hardware & Building Supply Dealer to discuss the state of the industry.
During the State of the Industry Webcast, sponsored by Epicor, one slide detailed the first annual decline in housing starts since 2009, along with the National Association of Home Builders’ forecast for mid-twenties percent declines in 2023. But the resiliency of the demand should alsoo be factored into the outlook.
“It’s not to say we don’t have headwinds for the next 18 to 24 months, but there are some fundamentals that would support the idea that there is opportunity (for growth) even in this year,” Farnsworth said.
Here is what to expect during the rest of LBM Finance & Development Week:
On March 7: The Importance of Understanding Valuation
The first step in your succession plan should be to invest in an independent, reliable, unbiased business valuation by a firm that understands the LBM industry. With the last two years of economic turbulence, having an objective value of your company provides the foundation for effective succession planning. Your business is likely your most valuable asset. Knowing the value of your business is imperative because it fuels important decision making like tax planning, funding your post ownership goals, and negotiating a sale price.
On March 8: Trade Credit and A/R: How to Account for Price Fluctuations in an Uncertain Market
The 2023 construction market is uncertain. With general inflation and steep price fluctuations, material suppliers need a plan of action for navigating an inconsistent supply chain. What is the solution to the industry’s cash flow issues? In this webinar, hosted by Rick Butler of BlueTape, you’ll learn how to leverage trade credit and accounts receivable to benefit your business no matter what the future has in store.
