Did you know that one out of every two businesses will change hands in the next 15 years? And that 70-80% of all businesses put up for sale do not sell?
There are many reasons for this – high among them is that the business owner cannot accept that his or her company is not ready to sell, at least not at the price the owner expects to get. It is possible and advisable to prepare your business for sale – this takes time. It makes sense to begin to plan for a transfer or sale as early as when the business begins! If that’s not possible, the majority of companies need two to seven years.
However, sale to a third party is only one option of those available to business owners. “Exit planning” is the process of identifying the options and timeframe for transfer that meet your needs, and then directing your CPA, Lawyer, Financial Planner and others to finish the important details of your plan. We work with business owners on Exit Planning, and preparing your business for exit. Contact Next Level for a copy of our new book: “Winning the Business Exit Game: It’s What You Keep that Counts.”