Situation: Franklin Electronics, Inc. manufactures highly specialized electrical components for the medical industry. The company is profitable and growing; gross annual sales last year were $3.5 million.
Ownership: Formed 10 years ago, the company is a corporation owned and managed by three employee/shareholders who are former employees of a larger electronics firm.
Robert Kennelly, 45, marketing officer and secretary/treasurer, also has a 40 percent ownership interest in the company. Annual salary: $125,000.
Henrietta Johnson, 40, vice president and operations manager, owns 20 percent of the business. Annual salary: $75,000.
Employees: The company also employs 25 full-time workers. Most are either parts assemblers or are in clerical or other non-technical positions. However, in addition to the three principals, one other employee is considered "key" to the continued financial health of the company:
Advisers:
Karen Magnuson, 36, is president of the company and has a 40 percent ownership interest. Karen is the business manager and key decision-maker. Annual salary: $125,000.
Simon Green, 30, the company's top sales producer, is responsible for developing over 25 percent of the company's primary clients. He is married and has one child. His wife, Anne, is also an employee of the company. Annual salary: $52,000.
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