Cory Podnar, owner of Asphalt Protectors, Inc., spent many years working in the paving industry before deciding to pursue business ownership. As his family circumstances changed, he began evaluating long-term career stability and growth, which led him to consider transitioning from employee to owner and taking a more direct role in shaping the company’s future.
With substantial industry experience already in place, Podnar approached his parents about purchasing their business, Asphalt Protectors, Inc. The transition required careful planning and coordination. At the time, his father’s health was declining after a long battle with cancer, which added time sensitivity to the process. In addition, the buyout structure needed to balance several considerations: ensuring fair compensation for his mother as the seller, equitable ownership arrangements for Podnar and his sister as buyers, and recognition of the years both siblings had already contributed to building the company.
The ownership agreement was finalized shortly before Podnar’s father passed away, making the timing significant. Completing the transfer when they did ensured continuity of the business and avoided the possibility of a sale outside the family.
To manage the complexity of the transition, Podnar worked with the Nevada Small Business Development Center. The SBDC assisted with structuring the ownership transfer and developing a fair, transparent valuation that aligned the interests of all parties. His advisor, Jake, continued to provide support beyond the transaction, offering guidance on market trends, benchmarking, and financial management to support ongoing operations.
“The Nevada SBDC has been a valuable resource in helping me identify market trends and benchmarks while keeping our financial house in order,” said Podnar. “They’ve worked with businesses that have gone through similar transitions and can help find practical solutions.”
Today, Asphalt Protectors operates as a full-service paving and maintenance company, serving both residential and commercial clients. Podnar credits the SBDC with providing practical guidance during the ownership transition and recommends their services to others considering business startups or ownership transfers.