Exit Planning
At some point in time in time every business owner will “Exit" their business. Some businesses will automatically pass to the next generation but increasingly business owners want to unlock the equity they have tied up in their business by selling the business to a 3rd party.
Unfortunately, most business owners are so focused on running their business that they don't plan the sale of their business in advance of making the decision to sell. Whether your goal is to exit your business in six months or six years an effective Exit Plan can help you control the timing of the sale, improve the attractiveness of your business to potential buyers and maximise the selling price.
What is Exit Planning?
Exit Planning is a methodology which enables a business owner to plan the sale of their business in such a way that it meets their personal and financial objectives. Each exit plan is specific to the individual business and business owner but will typically involve a process similar to the following:-
- Meet with the business owner and his/her partner to identify their personal and financial objectives.
- Analyse the operational and financial performance of the business to establish it’s current market value and the improvements needed to secure an exit which will meet the owners objectives.
- Develop a business and action plan to prepare the business for sale.
- Monitor and report business performance monthly versus the agreed Exit Plan and take actions where necessary to ensure the plan remains on track.
- Confidentially offer the business for sale when the exit plan actions have been completed and the market value of the business will achieve the owners objectives.
The longer a business owner has to implement an Exit Plan the greater the opportunities will be to minimise business risks, enhance business continuity and maximise business value through a successful sale.
Next Steps
If you would like to discuss your Exit Planning requirements in complete confidence please contact us for an initial consultation without cost or obligation.
Email: info@sunbelt.ie | Phone: 01 444 8900
