Comment on leveraging or financing your accounts / register for Jim Wooster's Financial Webinars - see below September 7, 2020
Homepage > Alarm & Security Law > Alarm Articles > Comment on leveraging or financing your accounts / register for Jim Wooster's Financial Webinars - see below September 7, 2020
KEN KIRSCHENBAUM, ESQ ALARM - SECURITY INDUSTRY LEGAL EMAIL NEWSLETTER / THE ALARM EXCHANGE You can read all of our articles on our website. Having trouble getting our emails? Change your spam controls and white list ken@kirschenbaumesq.com ****************************** Comment on leveraging or financing your accounts/ register for Jim Wooster's Financial Webinars - see below September 7, 2020 *********************** Comment on leveraging or financing your accounts from article on August 21, 2020 *********************** Ken, You’ve provided a great overview of financing RMR contracts in your August 21, 2020 newsletter. Thanks for raising awareness on this topic and for your forum in general; it’s a great service to our industry. You have outlined several forms of RMR financing, but the common aspect is leveraging long term recurring revenue to raise immediate capital. And the key word, which is in the title of your article, is leveraging. In physics leverage is using a device, or lever, to amplify an input force into a greater output force (ok, I was a physics geek in high school). In business, the concept is the same, leveraging assets to produce a return that is greater than the cost. For a loan that cost is interest, and the return is the increased profit and value that comes by growing the business. This could be through an acquisition, or through opening a new office in order to expand geographically. It could be through marketing and advertising, or hiring salespeople or technicians to increase the amount of new business that can be created each month. A business has all sorts of assets - inventory, reputation, skilled employees, knowledge and experience. All these assets get put to use on a daily basis to help the business succeed. If you are not using the asset of being able to borrow against - not sell - RMR, then you are leaving an unused asset on the table. Kind of like not cashing a subscriber's check for services rendered. As an additional note, one of the biggest holdups we see to a dealer securing loan financing is when they do not have a good form of monitoring agreement, like the Standard Forms from Kirschenbaum & Kirschenbaum. Jim Wooster Alarm Financial Services, Inc. 866-204-9350 ext 1200 415-509-4750 cell jfwooster@alarmfunding.com www.alarmfunding.com **************************** Response **************************** Thanks for your insightful comments. I would have circulated it even without the “contract endorsement”. Jim, you offer an interesting perspective, that of an astute business man. You compare not borrowing against your contract RMR to not cashing a subscriber’s check. I wonder if I am too complacent or casual when it comes to aggressively clawing out every economic advantage that may be available. That is a point of view all alarm company owners should consider. I suppose many alarm companies are satisfied with constant and marginal growth, growth being measured by number of accounts, aggregate RMR, bottom line in the pocket of the owner. Others, as you seem to suggest, or at least make available, should consider a feverish and aggressive business model that pushing growth to its maximum potential. Leveraging assets, borrowing against them to generate more capital to fund more growth is the play in this scenario. Jim, most alarm companies don’t have a CFO, Chief Financial Officer, and they could benefit greatly by your guidance. I’d like to sponsor a few webinars where you teach the basic business and economic principles that you embrace. [how’s that for putting you on the spot?]. Business and Economic Principles; How to grow your alarm company, by Jim Wooster. Others are welcome to comment and participate in this webinar series TBA. ********************* WEBINAR SCHEDULE AND REGISTRATION ********************* Webinar Series: Financing for the alarm industry When: September 15, 2020 12 PM ET half hour presentation and then Q&A Topic Details: How to Use Lending to Grow Your Business - A general overview of how an alarm dealer can use lending to grow, such as making a acquisitions, buying out a partner, fueling organic growth, consolidating debt, etc. Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com Hosted by: Ken Kirschenbaum Who should attend: company owners and CFOs Register: https://attendee.gotowebinar.com/register/5986254083373814030 This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars ****************** Webinar Series: Financing for the alarm industry When: September 17, 2020 12 PM ET half hour presentation and then Q&A Topic Details: How to Finance an Acquisition - A more specific drill-down on this method of growing by purchasing the accounts of another alarm company Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com Hosted by: Ken Kirschenbaum Who should attend: company owners and CFOs Register: https://attendee.gotowebinar.com/register/4228983813536754190 This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars ********************** Webinar Series: Financing for the alarm industry When: September 22, 2020 12 PM ET half hour presentation and then Q&A Topic Details: How to Finance Organic Growth - A more specific drill-down on the many ways loan financing can help an alarm dealer grown organically through covering creation costs, enabling leasing, expansion, etc. Presented by: Jim Wooster and Jim Wooster Jr. Alarm Financial Services, Inc 866-204-9350 ext 1200 www.alarmfunding.com Hosted by: Ken Kirschenbaum Who should attend: company owners and CFOs Register: https://attendee.gotowebinar.com/register/3255545487536556558 This webinar will be recorded and available at https://www.kirschenbaumesq.com/page/alarm-webinars ********************* To order up to dateStandard Form Alarm / Security / Fire and related Agreements, click here: www.alarmcontracts.com ************************* CONCIERGE LAWYER SERVICE PROGRAM FOR THE ALARM INDUSTRY You can check out the program and sign up here: https://www.kirschenbaumesq.com/page/concierge or contact our Program Coordinator Stacy Spector, Esq at 516 747 6700 x 304. *********************** NOTICE: You can always read our Articles on our website at ww.kirschenbaumesq.com/page/alarm-articles *********************** THE ALARM EXCHANGE
This area is reserved for alarm classifieds, alarm company announcements, solicitations, offers, etc. There is no charge to post a listing here.Include your contact information, phone, email and web site. If you would like to submit a post, please send an email to ken@kirschenbaumesq.com. To create a reciprocal link to our website, click here. ************************************************ Getting on our Email List / Email Articles archived: Many of you are forwarding these emails to friends or asking that others be added to the list. Sign up for our daily newsletter here: Sign Up. You can read articles and order alarm contracts on our web site www.alarmcontracts.com ************************** Ken Kirschenbaum,Esq Kirschenbaum & Kirschenbaum PC Attorneys at Law 200 Garden City Plaza Garden City, NY 11530 516 747 6700 x 301 ken@kirschenbaumesq.com www.KirschenbaumEsq.com
