Pallet Business Ownership – Tips from Industry Veterans

Pallets are in high demand and many pallet companies are having their best year in terms of sales. Might be the right time to acquire a pallet business? Our owners know a thing or two about it as they explain in this recent interview…

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In a recent interview with Pallet Enterprise magazine, owners Mia and Amy discuss their acquisition experience, lessons learned, and tips for others looking to buy a business in the pallet industry.

For these sisters, acquiring the Rose Pallet business was a smooth transition. Prior to the buy-out, Mia and Amy were co-owners along with their uncle. In 2019, their uncle was ready to sell, and the sisters were ready to buy.

Having spent their entire careers in the pallet industry helped them navigate the process. That and hiring a very good attorney, accountant, and banker. “Even though we are all family, things still come up,” remarked Amy. That’s why she recommends having expert counsel from an attorney with whom you are comfortable.

As for determining the value of the company, Mia and Amy came up with a number they thought was fair and negotiated with their uncle. But for buyers new to the industry, it is advisable to rely on an accountant for valuation.

While some acquisitions can be disruptive, at Rose Pallet the transition of ownership did not affect staff or customers. Perhaps the biggest change was becoming a certified Women-Owned Business Enterprise. And, for that, the company and its employees are super proud. According to their accounting manager, “The difference in working for a woman-owned business is that the owners care more about the work-life balance and place more importance on the company mission and values, making it a healthier work environment.”

There’s no doubt that industry veterans Mia and Amy made the right decision. They are both passionate about pallets and enjoy working in a dynamic and fast-paced industry.

To read the interview in its entirety, please visit palletenterprise.com.

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