Allegra Network Makes $3.2 Million Match
Wednesday, April 28, 2010
Press release from the issuing company
NORTHVILLE, Mich. – Proving again why it is the graphic communications industry's most innovative company, Allegra Network has leveraged its renowned MatchMaker Program to facilitate a $3 million sale, purchase, and rebranding of a successful independent printing business.
Designed to pair entrepreneurs seeking to invest in an Allegra Network location with independent commercial print and sign shop owners seeking to sell their existing business, Allegra Network recently helped George and Cheryl Riesenfeld acquire Dennis Denson's printing business, Print Central, in Fort Worth, Texas through the MatchMaker Program. The Riesenfelds are currently working with Allegra Network to convert the business into an Allegra Marketing · Print · Mail center.
"There isn't a better feeling than to leave corporate life and become my own boss," said George. "The MatchMaker Program is a wonderful way to become an entrepreneur and the former owners have been extremely helpful during the transition."
George recently took over the $3.2 million print shop to fulfill his lifelong dream of establishing his own business. With a successful corporate career in manufacturing food and pharmaceutical ingredients, George will combine his expertise in business management, sales and marketing, and production with the ongoing support of Allegra Network to continue to grow his business.
"Allegra Network helped me successfully identify my ideal business and location," said George. "They assisted me in establishing communication with owners interested in exiting the industry, and guided me through the acquisition process. Now that I'm a franchise owner, I am excited to continue growing my operation through the acquisition of additional print or marketing shops in the area through Allegra Network's Acquisition Program, as well as through the company's turn-key marketing programs."
Through the company's unique MatchMaker program, Allegra helps new franchise members find and purchase a qualified graphic communications business, councils them on necessary upgrades, teaches them how to manage the location, and provides them with ongoing operational, marketing, technical and field support to help take their business to the next level.
"As more executives and business professionals find themselves seeking new career paths in today's economy, many seek the benefits of entrepreneurship, but may not want to build the business from scratch, " said Phil LeBlanc, vice president of franchise development for Allegra Network. "Our MatchMaker Program fulfills both needs because it allows them to purchase an existing business with an established client base, equipment and trained staff already in place."
In working with independent print and sign shop owners, Allegra has witnessed individuals selling their businesses for a wide variety of reasons. Owners are often looking to retire, or do not have the time or the money to invest in new equipment in order to stay competitive in their market.
Allegra Network seeks potential franchise candidates with a net worth of $400,000-$500,000 and liquidity of $100,000-$200,000. The company also offers start-up and resale franchise opportunities to candidates, in addition to its MatchMakerTM program.