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Everyone will exit their business at some point – it’s inevitable! Most contractors, with no exit plan will simply close their doors leaving years of good will, established contractor and supplier relationships, and dedicated employees to simply go away when those company doors close.
There is another way! When thinking about leaving your business, there are 3 primary things to consider:
- Selling your business when you want
- For the money you need
- To the person you choose
Simply, you will be leaving your business and hopefully, this will happen in a planned and deliberate fashion. This is something every business owner will address. Exit Planning with contractors is often stressful and overwhelming for business owners because they often don’t know where to begin. There are a myriad of questions that need to be addressed and then tailored to that contractor’s specific needs. The key here is to start that conversation and begin designing the contractor’s “exit roadmap”. Like any building project, we create a plan and amend that plan as needed.
We offer an Exit Planning Assessment tool that allows business owners to understand the steps they need to take to where they want. By outlining the process, timeline, and necessary steps to an effective exit plan, owners can gain a clear understanding of the path ahead and the action items that will need to achieve an owner’s goals for their future and that of their company.
What to Expect from the Exit Planning Assessment. These are the questions that we will address:
- Owner’s objectives and financial resources
- Maximizing and protecting business value
- The steps to ownership transfer
- Business continuity and estate planning
