Succession planning is about controlling how and when you exit your business, while maximizing value, minimizing risk and preserving wealth. The benefits of a formal plan include being fully prepared, attracting more and better buyers, realizing a higher selling price, paying less in taxes, and increasing the likelihood of a trouble-free business transfer. On a personal level, it clears and settles your mind and allows you to focus your energy on what's important.
If you are like most baby boomers, the value of your securities and real estate portfolio has slipped away and your ability to affect the value of those investments is limited. Fortunately, your business is different. Whether you want to transfer to family, management or a third party, a clear, proactive exit plan is more important than ever.
Through Business Succession Planning you can …
- Increase market value
- Increase marketability
- Attract more and better buyers
- Achieve work/life balance
- Insure a seamless ownership transfer
- Avoid costly mistakes
- Reduce taxes
Most successful business owners don’t have the time, expertise or inclination to tackle succession planning on their own. This is where Exit Strategies comes in ...
Phase 1: Evaluation
We begin with an objective, baseline valuation and market analysis for your business. We produce a report that typically covers:
- Financial review and analysis
- Industry comparison
- Rating on 25+ common value drivers/detractors
- Application of several valuation methods
- Applicable discounts and premiums
- Conclusion of value
- Tests for reasonableness
- Likely buyers
- Likely deal structures
- Likely financing sources
- Marketability and potential obstacles
- Insights into increasing value and marketability
Ask to see a sample of our work.
Phase 2: Planning
In this phase we help you develop an exit plan with specific strategies and measurable action steps. A succession plan ties in your personal financial goals. When a value or marketability gap exists, we can help you lay out strategies to close the gap within your timeframe. When a third party sale is your preferred exit option, the plan prepares you and the business for the selling process. Our Advisors have the real world experience to identify the range of exit planning issues, and will coordinate with your legal, tax and financial planning professionals to optimize your plan.
Phase 3: Implementation, Coaching and Plan Updates
At your option, we can help you assign and direct resources to implement your plan. We can meet every 3-6 months to review progress and update your plan. We can update the valuation annually as the business and marketplace change.
You choose the level of coaching you need. Our goal is to earn the role of a valued and trusted advisor. Your plan remains confidential.
Reasonable Cost, and up to 100% Credit When You Sell
Our Succession Planning / Coaching service is more cost effective than you probably think, and your investment should produce a strong return. Later, if you engage us to sell your business, we will credit up to 100% of your succession planning investment toward our brokerage fee. In the end, you receive a greater reward!
If expertise of this nature sounds interesting to you, contact our firm. To achieve your exit goals in the next 1 to 5 years, call Exit Strategies today.
