Change can be difficult, especially when it comes to exiting a business. Whether it’s to a third party, family or employees, succession planning takes time and deserves careful planning. Here are just a few things to consider:
- How much will you end up with after taxes?
- How safe is your business if you sell it on payments?
- Can you get top dollar?
- What will the buyer be looking for?
- What if you want to bring on a partner or investor?
- Will your family want to take over and are they capable?
The good news is that with proper planning all of these issues can be addressed and a successful exit can be planned. For starters, let’s see how sellable your business is and what needs to be worked on. Based on quantitative analysis of more than 18,000 users, companies that achieve a score of 80+ are predicted to get offers that can be up to 71% higher than the average business.