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Business Planning

Exit Planning

Part of Exit Planning involves either grooming a successor or grooming the business for its eventual sale to a buyer.

  1. Retirement Planning. As part of every successful exit plan is a strong retirement plan for the owner that has been historically funded by company funds into a qualified or nonqualified retirement plan for the benefit of the owner. In every sale of a business, the buyer is looking for extra value beyond the purchase price. Where the owner is prepared to leave a little extra on the table, the seller can get the best possible terms, including after the sale terms, which improves his or her overall net return.
  2. Restructuring and retiring Debt. All debt is not created equal. Tax law provides that some debt may be more favorably treated than other debt. We can provide guidance
  3. Succession Planning. Succession Planning can mean different things to different people. For some, it a reminder of their mortality and the beginning of the end to their lifelong passion: their business. For some, it is a transition to a new beginning: playing golf and traveling year around. But in the end succession planning is preparing the business to continue on, into the hands of a hand-picked successor, whether they are a family member, longtime associate or a new acquaintance.

    Succession Planning includes the process of getting the business ready to operate without the owner, including training staff, disposing of nonproductive or inefficient assets, improving efficiencies, improving the balance sheet and boosting profit margins to obtain the best possible price. It might include training for the heir apparent to be able to manage the business.

    At its best, Succession planning involves boosting the operating profits and financial strength of the business and reducing income taxes in order to simultaneously provide enough equity to enable the owner to retire and the new owner to invest cash flow for growth.
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