Transitioning ownership of your business is a once in a lifetime experience for most business owners If properly prepared for it can be a rich and rewarding time that unlocks the value you have built in your business and leads you to the next phase of your life with excitement and anticipation. It can also be a traumatic experience. The difference between the two is a solid Ownership Transition Plan that is executed to its fullest.
- More than 60% of businesses will change ownership over the next ten years;
- 40% of US mid-sized business owners plan to transition ownership of their business in
the next five years;
- Less than 40% of business owners successfully transition ownership in their businesses;
- 60% of business owners between the ages of 55-64 have not discussed their ownership transition plans with their spouses, business partners or other important stakeholders;
- 90% of family-owned businesses do not pass to the third generation successfully;
- Most owners do not have a clear view of what their post-ownership plans or financials
needs will be.
A buyer’s market is developing in which only the best-prepared businesses will meet their ownership transition objectives. Roughly, one in four businesses in the US will simply disappear. We have developed a process to put you into the rarified air of those that succeed in transferring ownership on THEIR terms: We will: work with you and your advisors to:
- Help you identify your goals and objectives, the value of your business and how they fit together.
- Unlock value in your business using our experience to ask the hard questions and offer creative solutions.
- Take the proper steps to protect the value that is already present in your business and to magnify that value during the planning process.
- Identify opportunities for growth in your business that may make it a more attractive buyer target;
- Examine the tax ramifications of various transition plans and structures;
- Determine your target buyer(s). An experienced team of transition professionals will help you to determine your best option;
- Market your business to qualified buyers should you decide to sell to a third party.
As a business owner, you have a number of arrows in your quiver that can allow you to act proactively. You can grow the value of your business and meet your transition objectives. Let us look at your alternatives and get to work.
Please give us a call to begin the conversation about strategies to help you reach your ownership transition objectives.
Maurie Cashman, President