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Exit Strategy Planning & Exit Planning Project Management
An Introduction to Exit Strategy Planning
Smart business owners know they should be preparing for the day they eventually sell and exit their business. It makes no difference whether the plan is to sell the business in 3-5 years, 10 years or they have just started a business. If selling out is your planned exit strategy, the proper planning and preparation today can have an enormous impact on the attractiveness of a business and the ultimate pay-out from a sale.
With the baby-boomer generation starting to enter retirement age, many businesses will soon be up for sale. How many? Research indicates that as many as twelve million (yes, 12,000,000) businesses - representing some $10 trillion in market value - could change hands in the next decade. However, based on past data, as many as 3 out of 4 businesses put up for sale will never be sold. (Review data on US business sales)
Are you ready to sell and exit your business? Have you asked and answered the wide range of business, personal, financial, tax and legal questions involved in selling and exit from your business? Is your business in the best possible condition to attract qualified buyers? (Read January 8, 2008 article from the Wall Street Journal)
Additionally, it must be said that our personal, financial, health, business, economic and professional circumstances can change at any time. It is simply wise estate planning and contingency planning to get your busines in shape today for potential buyers.
Exit Planning Project Management
The sale and exit from a business is generally a one-time event for business owners. Doing this right can have an enormous impact on the ultimate pay-out from the sale of a business.
Many business owners do not have the time, focus or experience to go through this process on their own. Many owners rely on their long-time business advisors, such as their attorney or CPA, to help them through this process. Unfortunately, these professionals may not have the experience or resources to address the wide range of issues involved in selling and exiting a business. Additionally, their rates may make the project management costs prohibitive.
Continuous Improvement
During the exit planning process, we evaluate a business and develop effective marketing, operational, organizational and financial strategies and processes. It is most beneficial to do this work well in advance of a planned sale, so the company's operating performance demonstrates the efficiency and profitability of a company.
The Endorphin Due Diligence Package
Through experience and collaboration with investment banking experts, we have developed a process to prepare businesses for sale. We work with business owners to develop and compile a comprehensive, detailed due diligence package, which the owner will have on hand, ready at any time, to begin the due diligence process.
The Endorphin Due Diligence Package contains:
- Comprehensive, current business plan
- Marketing plan, including all marketing tools
- Accurate financial statements and data records
- Operating procedures and manuals
- Organization chart and job descriptions
- Supporting operating, legal, trade and administrative documents
Multi-Disciplinary Team of Advisors
To get the most out of selling your business, business owners need specialized, experienced advisors who focus on exit planning. This team must include specialists in the legal, tax, wealth management and investment banking. Other specialists may be needed during the preparation stage such as various management, marketing and operational specialists.
If the business owner does not have the time, focus, energy or expertise, then the multi-disciplinary team of advisors should include someone to manage the exit planning process.
Contact us today to take a big, bold step and schedule a complimentary and confidential meeting