Sale preparation and exit strategy are high priorities for business owners. Yet, the statistics below highlight the lack of preparation and planning that is critical to maximizing long-term values.
All too often business owners delay these decisions until it is too late. As the vast majority of your net worth is typically tied up in your business, we recommend that you begin the process at least five years before you plan on retiring.
81% of business owners wish to stop working in their business in the next 10 years.1
56% want to sell/transfer in the next 10 years, and 100% will leave their business, planned or not.1
68% planning to exit or sell their business in the next 3 years don’t have a formal transition plan.1
Only 17% of business owners have completed a valuation of their business.1
Only 56% of business owners have a succession plan.1
41% still don’t have a business succession plan for death, disability or retirement.1
58% have never had their business valued.1
An inclusive, multidisciplinary approach to
succession planning can dramatically increase the
opportunity for desirable results.
Every business owner has a different desire for their future. You might wish to spend less time working in your business but still remain involved for the long haul. Or, you may want to take a 180-degree turn and live a completely different lifestyle, whether that involves traveling more, biking, playing more golf—or simply being with your family. You’ve devoted time and energy to build your business, and we’re dedicated to translating your success into the flexibility you’ve worked hard to experience. Our goal is to help instill financial and time freedom, allowing you to choose how you spend your days.
How It Works
Our goal is to secure a course of action that can support your lifestyle and help you pursue your greater life goals. Below is an outline of what our process looks like:
Discovery & Preplanning
- Understand your income requirements and goals
- Gather financial information
- Run financial planning analysis to assess needs vs. resources
- Collaboratively interview estate planning attorneys, CPAs and investment bankers
- Assist in decision making on which professionals will add value and be part of your deal team
Solicitation & Evaluation
- In conjunction with your team, conduct a formal evaluation of business & search market for potential buyer
- Analyze and value letters of intent (LOI) using planning software and your data to determine optimal offer for your situation
- Finalize estate plan, gifting strategy, and investment plan with the team
Sale and Post-Sale
- Complete the LOI and conduct sales transaction
- At completion of transaction, follow implementation plan regarding investing of proceeds
- Ongoing monitoring and reviewing progress
Providing Ongoing Financial Guidance For Your Life
Our disciplined process eases the uncertainty of what is one of the biggest transitions in your life. You will not only have a clear sense of your business’ value but a comprehensive plan to manage the proceeds.
Once the sale is complete, we’ll be here with you as your personal financial advisor, overseeing your plan and providing hands-on financial advice in your next life chapter.