Exit planning refers to the process of determining the best route for selling or transferring a business to successors while also ensuring the business owner’s comfortable retirement.
Creating an exit plan should precede the business owner’s exit by at least 5 to 10 years and requires several advisors, including a Certified Business Exit Consultant (CBEC) ® to “quarterback” the process, an Attorney, Certified Public Accountant (CPA,) Certified Financial Planner (CFP,) ® Chartered Life Underwriter (CLU,) ® Certified Management Consultant (CMC,) ® and others to help the business owner visualize their best exit and succession strategies. Of course, the earlier you start to plan the better.
96% of business owners agree that having both an exit and succession plan are important for the future, yet 87% have neither. Because 66% of the privately held businesses are owned by Baby Boomers, the majority of whom will need to exit their business in the next 10 years, just about every business can benefit from talking with an experienced Certified Business Exit Consultant (CBEC.) ®
Most business owners are not adequately informed, do not thoughtfully plan for their exit, and, consequentially, leave a lot of money on the table, as illustrated by these additional statistics:
Not only do family members suffer when a business owner fails to plan, but so do the business’ customers, employees, and other stakeholders.
An owner who is informed and ready to sell their business, on the other hand, greatly increases the odds that the business will survive a transition to new owners and allow the business owner to retire comfortably.
Our comprehensive exit planning consultation includes:
We sign a confidentiality agreement with each client, ask for no money up front, and guarantee the business owner will be satisfied with our services:
“Greater Prairie Business Consulting, Inc.’s performance guarantee to a business owner is this – if the business owner is not completely satisfied with this service or feels that this exit planning assessment falls short of the most comprehensive discussion they have had about exiting their business, there is no charge.”
Often this assessment identifies ways a client can be more profitable, so the client has nothing to lose and a lot to gain from talking to Greater Prairie Business Consulting !
The question is, how ready is your business for your future exit ?
Click on the below boxes and take our free assessments to learn about your mental, financial and business' readiness for exit: