Exit Planning - Introduction

There are a wide variety of ways an owner can exit a business.  Sale of the entire business to an outside party is just one option, and far from the most common.  Other exit options include:

• Sale or gift to family member(s)
• Merger with or acquisition of a competitor, supplier, or customer
• Recruitment and/or development of personnel to replace owner
• Current management buyout, outside manager buy-in or ESOP
• Sale to other shareholder/ partner
• Managed close down or liquidation
• Etc.

The right option depends on a variety of factors specific to each business.  A critical input are the owner’s objectives in the following six areas:

• Financial (wealth/ income needed to maintain lifestyle)
• Lifestyle desires (e.g., retirement, travel)
• Professional challenges
• Business continuation
• Rewarding of key stakeholders, including family and employees
• Personal legacy and/or contribution to community.

Through our exit planning service, we develop a comprehensive exit plan that takes into consideration all of the above options and objectives, and dozens of other inputs and constraints.  We work collaboratively with the owner, key stakeholders, and advisors (e.g., CPA, wealth advisor, estate planning attorney).  The resulting exit planning is comprehensive and addresses at least the following topics:  prioritization of exit options, financial and retirement plan, estate, trust, and tax plan, business continuity plan and succession plan. 

For a much more in depth discussion of this topic and our services, review the Exit Planning section of this web site.

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