The Maryland Society of Surveyors (MSS) and Virginia Association of Surveyors (VAS) will each host special seminars in April on Ownership Transition, featuring noted professional Charles Pecchio as speaker/instructor.
The special 8-hour seminar will be held during the MSS Spring Conference on Thursday, April 7 at The Conference Center at the Maritime Institute in Linthicum Heights, Maryland and the VAS Spring Seminar, Friday, April 15 at The Tide’s Inn in Irvington, Virginia.
This seminar is especially designed for the principal, owner or partner in a surveying firm who at some point in his or her career, will transition ownership to insiders or sell a firm, as well as a surveyor interested in someday becoming a principal, owner or partner of a firm.
"Comprehensive information on Ownership Transition in the surveying field is hard to find. Surveyors in either category can get a rare and thorough one-day education on this important topic at these upcoming seminars," said John Palatiello, Executive Director of MSS and VAS.
Charles ("Charlie") Pecchio is President of Kingston Capital Corp. (KCC) which provides consulting services to businesses and other consulting companies related to strategic planning, business expansion, ownership transition, and mergers and acquisitions. Charlie has over 40 years’ experience in executive management, business development, venture capital, and business consulting, and he has served as officer and director of many private and public companies. Charlie has been involved in several ownership transitions affecting surveying and mapping firms.
Topics to be covered include: ownership’s goals, business value, taking care of family and employees, timing, preparing for an ownership transition, optimizing the firm’s value, clients and contracts, financial statements, ownership transition options, identifying potential buyers (including internal sale to employees or family members), payment methods, liabilities and indemnification, the ownership transition process, and more.
"Our experience is that owners in surveying, mapping, architecture and engineering have built great value in their firms, but may not be aware of what the business is really worth or the steps that are needed to assure a smooth and successful transition," Pecchio said. "Too many professionals and owners in these design disciplines put a lot of sweat, effort and their whole life into their practice, only to fail to get an adequate return on their life-long investment when they sell, retire or transfer ownership. Planning ahead can assure a comfortable retirement based on the full value of a surveying practice, taking into account both tangible and intangible assets. With the average surveyor today being at the age of 58, it is not too soon for every owner to plan for his or her succession. Our seminar will provide useful guidance on the process.".
About the Virginia Association of Surveyors (VAS)
The Virginia Association of Surveyors was established in 1948 to promote the interests and professional development of surveyors licensed in the Commonwealth. We accomplish this goal by participating in a wide range of activities, from continuing education and scholarship funding to lobbying efforts in Richmond. (www.vasurveyors.org)
About the Maryland Society of Surveyors (MSS)
The Maryland Society of Surveyors is a professional organization with the mission of advancing the science of Surveying and Mapping in the furtherance of the public welfare and in the interests of both those who use maps and surveys and those who make them. MSS educates the public as to the necessity and importance of the services provided by professional surveyors, develops standards for accomplishing land surveying tasks which represent the minimum acceptable level of effort to perform the work in a professional manner, and communicate these standards to all Society members. MSS promotes high ethical standards and professionalism among surveyors and promotes the general welfare, efficiency and services of its members. (www.marylandsurveyor.org)