Exit and Succession Planning

Exit and Succession Planning

Creating Successful Transitions

How often do you exit a business? Most owners only exit a business once in their life. It is a new experience with a series of decisions that can alter the outcome.

The Dowell Group Can Provide a Blueprint:

  • Lay Out the Plan to Begin the Process
  • Decide an Exit Date
  • Acquire Independent, Objective Professionals to Help
  • Maximize the Sale Value or Succession Strategy
  • Plan the Post-Sale Tax Impact

What is Your Best Strategy?

To close the business, merge it or sell it to an external buyer, family member, employee or existing co-owner or partner? Let us help you assess your options.

Time is a Valuable Tool in Exit Planning

In general, the shorter the planning timeframe is, the less profitable the sale may become. Time enables you to refine operations to maximize value; ensures key-men and non-competes are in place; allows owners to remove themselves as much as possible from the day-to-day operations, and provides time to let a tax strategy unfold, especially if gifting is involved.

How to Begin the Process…

  • Build a team of professionals; typically a CPA, an attorney, and a banker
  • Establish a Timeline; this could be 6 months or 15 years
  • Take Steps to Enhance Value; make the business physically and financially attractive to buyers
  • Separate Yourself from the Business; the business is now an asset for sale
  • Depersonalize Decisions; remove the emotional connection
  • Create a Tax Plan; Including a retirement strategy, estate & trusts needs, life insurance, health care, etc.
  • Prepare for Post-Exit; establish an investment strategy for the proceeds
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