Exit Planning

Exit Planning

There’s been a lot of research done on business owners and their top business planning priorities.

But the one statistic we don’t need research to prove: 100% of business owners will exit their businesses some day.

Why Exit Planning is Good Business

Exit planning should be viewed as “options planning.” That’s because a business owner who views his/her exit as an inevitable eventuality, and plans accordingly, will have flexibility and options for life after the business. An exit plan is also a roadmap for you, your family and your employees to help ensure that when you step away, regardless of when that time comes, everyone knows what will happen next.

What Goes into an Exit Plan

Understanding Owner's Objectives

There are three straightforward exit objectives that, once established, allow owners to cut through a lot of muddled thinking that otherwise bars them from moving forward.

  • Who am I going to sell to?
  • How much annual after-tax income do you want?
  • How much longer do you want to work in the business before making your paycheck optional?

Quantifying both business and personal resources

If business owners expect to maintain their current lifestyle in retirement,
they need to ask themselves two important questions:

  • Are my personal assets such as retirement account balances sufficient?
  • Am I confident the business will always provide for me?

Building and Preserving Business Value

If you died 90 days ago, what would your business be worth today?

If the proper planning hasn't been done and you pass unexpectant would your family and others that depend on you be able to live off proceeds from the business if it was put into a forced liquidation situation?

Selling Company to a Third Party

Most owners choose to sell their business when two critical decision paths converge.

  • The first path is when you have made the subjective decision to sell.
  • The second path is when you make the objective decision knowing the Merger and Acquisition market and the company's readiness make it the right time to sell.

Transferring Ownership to Insiders

The decision to sell to a child(ren), key employee, or co-owner can be a tough decision. A business cannot be successfully transferred unless the new ownership is capable of running the business, nor can the transfer be successful if the business itself lacks the ability to provide an ongoing stream of income to the previous owner.

Business Continuity Planning

Business continuity planning is not about protecting your family. It is about preserving and protecting the business, in both the short and long term, should its most important component, you the owner, die or otherwise become incapable of continuing in the business.

Personal Wealth and Estate Planning

Personal Wealth and Estate Planning is helping you the business owner focus on the three main questions.

  • How much wealth do you want when you leave your business?
  • How much do you want the kids to have and how much is too much?
  • Which tools minimize the estate and gift tax consequences of transferring wealth?

Ways to maximise your exit planning

Buisiness Trends

See the stats on why Exit planning is crucial for your business.

Wealth Management Services

Explore how Wealth Management Services can enhance your exit planning.

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