Succession Planning
Most entrepreneurs know that at some point they will exit their business, yet they may not know how or when. Unfortunately, they usually don't think about it much until they are ready to leave. If you don't understand what makes your business attractive to a buyer, and you don't address those motivations, you will not realize full value when your business is sold. If you're like most business owners, the proceeds from the sale of your business will probably fund a large portion of your retirement or your next venture - so succession planning is a prudent and necessary step toward achieving your objectives.
First, identify the most likely exit scenario. Just as you should never assume that your business is sellable to a third party, neither should you assume that no third party would ever want to purchase it. There are many businesses that the owner just shuts down which could have been sold. You can take actions now that can help make seemingly un-sellable businesses sellable. And even if your business is doing well, you can attract a broader range of buyers with proper planning. We also work with your tax and financial advisers as part of the planning process.