Business Planning

Sooner or later, everyone wants to retire. But if you own a family business, retirement isnít just a matter of deciding not to go into the office any more. Besides ensuring that you have enough money to retire on, the whole question of what happens to the business becomes paramount. Whoís going to manage the business when you no longer work in the business? How will ownership be transferred? Will your business even carry on or will you sell it?

Exit Planning - Itís Never to Early to Begin!

According to the SBA, at any given time, "40% of U.S. businesses are facing the transfer of ownership issue and less than a third will succeed". More than 70 percent of family-owned businesses do not survive the transition from founder to future generations. In most cases, the "killers" are taxes, family discord or poor planning, all issues that a good Exit Plan will cover.

Exit planning seeks to achieve your personal goals while setting up a smooth and successful transition between you and the future owners of your business. (Tools) Your Exit Plan should be part of an integrated financial / estate plan designed to accomplish your objectives - whether you sell, retire, become disabled or die.

"Wise Decisions Begin With a Disciplined Approach"

Creating and implementing your Exit Plan may be the most important business and financial event of your life. We have a proven planning process and track record for helping families achieve their business transfer goals. Use these guiding questions to get your exit planning process underway and ensure a successful transition:

  1. Have you decided when you want to leave your business?
  2. Have you decided how much cash or annual cash flow you will need when you exit?
  3. Have you decided to whom you want to transfer the business?
  4. Based on future cash flow, do you know how much your business is worth today, in cash?
  5. Do you know the best way to increase the income stream generated by your ownership interest?
  6. Do you know the best way to utilize business cash flow to achieve your personal lifetime goals.
  7. Do you know how to sell your business to a third party and possibly lower your taxes?
  8. Do you know how to transfer your business to family members, co-owners, or employees while lowering taxes and potentially enjoying financial gain?
  9. Do you have a continuity plan for your business if the unexpected happens to you?
  10. Do you have a plan to help secure finances for your family if the unexpected happens to you?

If you were unable to affirmatively answer any of these questions we would like to help you.

Exit Planning is a multi-discipled process involving a team of professionals working in harmony with the common purpose of helping you achieve your exit goals. In addition to your financial advisor, the other professionals typically involved in an Exit Plan are as follows: attorney, accountant, valuation expert, business broker and or investment banker.