EXIT PLAN/SELL
If you are considering selling your business you fall into one of these categories:
- Investment: You are selling your business to ‘cash-in’ on the value you have created. You may want to use the sale proceeds to finance another enterprise. Most likely you want to sell fairly quickly, providing adequate time to arrange things for the best sale price.
- Retirement: You are selling your business as part of your retirement planning. Ideally the sale will not take place for a few years, providing ample time to maximize sale price and terms. As the improvements take place you will find that you will enjoy your remaining years in business more than ever before.
- Rescue/911: Selling your business might be an important aspect of your Exit/Sell Action Plan.
Depending on your reasons for selling you can structure the sale in these ways:
- Cash: This would apply if you want/need all the proceeds right away, assuming income tax considerations do not take too much of the proceeds.
- Cash and carry paper: Often the optimum sale scenario is to receive a reasonable down payment, with you providing the qualified buyer with a note and a nice interest rate, for the balance. This scenario often allows you to sell your business to a valued and experienced employee who will be successful in their new role.
- Work-to-own: Your buyer may be willing to work in the business for a period of time as a down payment and a method to obtain the training and experience necessary for a successful sale.
Regardless of your motivation for selling, our objective is to get you the best price and terms possible. Depending on your specific circumstances, we will address the following areas:
- Management: Make certain that you have the right people and have systems to evaluate your operations, assuring a profitable, dependable business for the buyer.
- Operations: Assure smooth and efficient work flows to maximize sales and profitability.
- Marketing: Have in place effective methods to gain and retain customers.
- Location (physical vs. Internet): Assess and upgrade as necessary.
- Asking price: Determine asking price and best source of qualified, potential buyers.
Business Consulting Group will review your current business situation in light of your personal, financial, career and retirement objectives. We will then formulate and help you execute your specific Exit/Sell Action Plan.
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