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FabricareCanada MAY/JUNE 2016 – VOLUME 60, NO. 3


Features 10 22 14


Cover Story: Passing the Torch How do you hand off your business in a way that continues its success? These personal stories show you how. By Becca Anderson


Success through the Generations North Park Cleaners in Woodbridge, Ont. has grown from one generation to the next by careful planning and personal enthusiasm.


By Samantha Tkachuk 18


Buying and Selling a Business: What about the equipment?


Don’t forget your responsibilities with respect to equipment when you consider buying or selling. Here’s what to think about. By Kevin Marois


19 OOPS!


Passing the Torch – a.k.a. Cashing in your Chips


Financial considerations to maximize the value and minimize the tax bite in selling or passing on a business. By Martin Saxton


20 Jail Time and Hefty Fines


Dry cleaners have been hit hard by the Environmental Enforcement Act. Here’s the latest on case law and fine schemes.


By Jacquelyn Stevens


In our last issue we misidentified some people who were being saluted by their boss, Candice Mills, at Dry Cleaning By Dave in Calgary, Alta.) They are Dan Devicq, ‘CSR super- star,’ and presser Linda Hillstrom. Our apologies!


Departments


04 AS I SEE IT 06 INDUSTRY NEWS 09 PEOPLE 16 COMING EVENTS 21 PRODUCT NEWS 22 MARKETPLACE


10


ON OUR COVER


Josée and Luc Bédard are passing their company, Les Ateliers Bédard, down to daughter Marie-Ève, who is also our 2017 Scholarship winner to DLI courses.


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