sportFACHHANDEL 08_2018 Leseprobe

8.2018 Succession
Succession | COVERSTORY | 125
small and middle-sized companies are now 55 years
old or older. At the time of the planned retirement
a quarter of them would be over 70, every tenth
would almost be 80 years old. Therefore the KfW
speaks of a “wave of successors”, that is going to roll
over the middle-class within the coming five years.
It is long since no longer merely about a suitable
succession solution. Moreover many companies are
dealing with closing them after their departure for
retirement. To every seventh owner shutting down
is an option, “to many it’s the only one”. Another six
per cent are at least honestly considering closing
the store or business according to the KfW. If these
shut downs were really to happen, there would be
more than 300000 shut downs by 2022. If one adds
the more than half a million owners who are hoping
for a successor, fundamental changes are right on
the doorstep to a total of at least more than 800000
small and middle-class companies.
An opposed phenomenon, but supporting the
current development, is reflected in the interested
parties: Because their numbers are decreasing.
Whilst the media and politics are caught in the
start-up fever, as little people “as never before” dare
take the step to full business independence. According
to the KfW there were still 1.5 million founders
in 2001, not even half as many (672000) in 2016.
“The dynamic labour market’s absorption effect” is
currently too strong. Additionally there is the fact
start-ups prefer to found a new company rather
than taking over an existing one. In 2016 only about
154000 start-ups became independent due to a
participation or take-over.
In specialist sports retail the situation is even
more dramatic. Michael Fanck, division manager
partner/market at the Sport 2000, reports: ”The topic
of succession is an industry overlapping phenomenon,
and of course it also affects specialist sports
retail. With about a quarter of our partners the topic
is going to pose itself within the next years, or rather
is already acute in a number of cases.” Whilst there
is already a successful succession plan “concerning
a large part of these partners” or is even already implemented
in basic approach, many retailers don’t
have that yet though. And Fanck adds: ”it also has
to be clear to all of us that there are also going to be
partner companies, which won’t be succeeded.”
There are many reasons for that. Sometimes it’s the
location that isn’t future-proof. High rents, not too
lucrative location, or even liabilities the company in
succession would have to handle scare off potential
start-ups. The business model can also be decisive
for the future viability: Is the business modern? The
product range structure tailored to the local target
group? Because without a succession plan there
is only little investment in the business and the
barriers to entry are often too high for founders. In
many cases it is also the lack of interest by potential
successors that lead to a business’ closing.
“Thereby”, according to Tim Wahnel, “there is a
whole lot of profitable locations and interesting
businesses whose future viability is a given from
our point of view.” The decision, how the succession
is to be treated, is thereby made by the owner.
If there are family members, usually the own
children who could and would like to continue
the company? Is there an employee who would
want to buy the company? Or is there an interested
third party, whether founder or competitor, who is
interested in the location? Thereby the handover
forms are diverse. Within the families it is often
a gift or a so-called anticipated succession. If it is
sold, one often distinguishes between management
buy out, by employees, and management buy in, by
external third parties. Handovers on annuity bases,
during which the old owner regularly receives a
fixed sum as purchase price in instalments, as well
as handovers through leasing or letting out can play
a role in succession planning.
Sport Schröer in Unna is among the specialist
retail stores that prefer the transfer within
the family – and that in third generation already.
The business, specialised on canoes, kayaks and
outdoor, was founded by Dieter Schröer in 1962.
Later his son Frank Schröer and last but not least
his grandson Kai Schröer joined in. All three of
them are still within the company and share the
responsibility in management. Kai Schröer reports:
”Every one of us has to do everything to a certain
extent. But in everyday business the tasks each of
us takes on have grown rather organically. Due to
my apprenticeship as media designer for example, I
take on marketing and online.” The family-run >>>
WHATEVER YOU DO, DON’T LET GO?
Amount of senior businessmen who are ...
... not prepared on time
... can’t “let go” emotionally
... can’t find a suitable successor
... are asking for excessive purchase price
... worry about a high inheritance tax burden
... are waiting because of a pension plan
21%
Tim Wahnel knows there is
a variety of future-proof,
profitable locations and
interesting stores.
Finding a successor is proving
difficult to many company
owners. The reasons are
manifold and range from
individual to social problems.
28%
36%
42%
41%
44%
SOURCE: DIHK-REPORT ZUR UNTERNEHMENS-
NACHFOLGE 2017, MULTIPLE ANSWERS WERE
POSSIBLE