• Stone Rock Golf & Country Club: Wedding Bells?

    In 2016, the general manager of Stone Rock Golf & Country Club (SRGCC) in Ainslie, Ontario, was considering an opportunity to grow the club’s weddings and special events business. SRGCC, a popular 18-hole golf course in a small town, was owned and operated by four local families, who ran the business according to their family values and their sense of loyalty and pride in their community. Since the golf industry had recently experienced a significant decline, the manager believed that increased investment in the weddings and special events business would help to strengthen and diversify SRGCC’s revenues. He was considering three different options, from modest to quite substantial: (1) focus on the immediate capital need of renovating the outdated maintenance facility; (2) make a large investment that included adding a new space for weddings and special events, expanded parking, and a new maintenance facility; or (3) do nothing and maintain the status quo. To complete the entire renovation, the club would require an investment of close to $1 million as well as approval from the four families. How could he build a case to increase SRGCC’s revenues and convince both his banker and the board of directors to accept his choice?
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  • To Brew or Not to Brew: The Corkford Brewery Acquisition - Instructor Spreadsheet

    Instructor Spreadsheet for product 8B19B007.
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  • To Brew or Not to Brew: The Corkford Brewery Acquisition

    In 2017, the president and co-owner of MacKinnon Industries was considering the opportunity to diversify his business and bring a former family business back into the MacKinnon family. With an extensive background in acquiring and managing manufacturing businesses, he now had an opportunity to purchase Corkford Brewery Inc. (Corkford Brewery). The deal included the land, building, and equipment, as well as four successful brands from Tanzer Brewing Company, which owned Corkford Brewery. MacKinnon wanted to evaluate the financial viability of the business venture under three different potential operating scenarios, assess the potential of adding ciders to the product mix, and consider the price that he would be willing to pay to acquire the business.
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