Business Exit Planning Services
Business owners have so much on their plate that when it’s suggested they finalize a business exit planning before selling a business for sale they often throw their arms in the air and ask, “Why and when am I going to have time?” Our response? Good questions!
Everyone benefits from business exit planning strategies. Here’s who and why:
Employees will be protected; something every business owner worries about. Although exit planning should probably be called something different to keep employees from speculating; “succession” or “emergency” procedures perhaps, employees will take comfort knowing there’s a plan for their jobs and their employer in case there’s a catastrophic event or a sudden ownership change. Just like when someone finalizes their will or estate planning for their personal affairs, all employees can breathe easier knowing things will run smoothly if the unforeseen occurs.
The exiting owner will be thoroughly prepared to maximize their sale opportunity: 1) Business exit planning helps prioritize reasonable goals for the business before a leadership change and then explores strategies and tactics to help achieve them; 2) Having a business exit plan in place makes a statement about a business. Buyers will take the company seriously. They will buy quicker and pay more for a business that has it’s proverbial “ducks in a row” than on that does not; 3) A business exit plan financially prepares an owner. The sale of a business can cause a significant increase to one’s liquid assets. Properly conducted business exit planning stratgies include analyzing the financial effects of the business sale and how it will affect one’s income, capital gains, estate and gift taxes.
Prospective buyers will look favorably on a business that takes the time to plan ahead. It makes them feel more secure about their investment and suggests that any ownership change within the business would transition smoothly. Although a business exit planning will benefit the owner and the employees (as noted above), for a buyer, the plan can also serve as business audit and review. Buyers will be able to see clearly where a company stands, what they are working on and what the plans are for the future. Your business will stand-out from the others as an independent and fully-capable business operation.
Cost & What’s Included
Business Exit Planning completed by American Fortune Business Sale Advisors take one to three weeks. Owners will work closely with a business advisor throughout the entire report process and should be prepared to share any/all pertinent business information. Our goal is to provide owners with a complete report that covers all aspects of their business. Typically, the Business Sale Advisor will focus and report on at least the following six areas:
- Management team
- Systems and procedures
- Customers and suppliers
- Facilities and equipment
- Financial discipline
- Growth strategies
Exit planning completed by American Fortune Business Sale Advisors vary in length depending on the size of the company and the plan chosen. All reports, however, will include:
- Recommendations to preserve and increase business market value while preparing a business for sale
- Business exit planning strategies and suggestions for transferring business to new owner
- Contingency exit planning and succession planning to address unforeseen or catastrophic events
- Comprehensive review of and suggestions for owners’ financial circumstances post-sale. This includes information on tax implications, estate planning, capital gains and more.
BASIC BUSINESS EXIT PLANNING SERVICES = $1,500
This plan is recommended for uncomplicated businesses and businesses with sales less than $1.5 million annually.
COMPREHENSIVE BUSINESS EXIT PLANNING SERVICES = $2,250
This plan is recommended for more complex businesses and businesses with sales greater than $1.5 million annually.
Clients utilized American Fortune Business Sale Advisors to prepare business exit planning strategies for their businesses in the following areas of the USA: Columbus Ohio, Atlanta Georgia, Lexington Kentucky, Bowling Green Kentucky, Nashville Tennessee, Memphis Tennessee, Cincinnati Ohio, Dayton Ohio,Toledo Ohio, Los Angeles, Cleveland Ohio, Pittsburgh Pennsylvania, Baltimore, Maryland, Indianapolis Indiana, Chicago Illinois, Detroit Michigan, Flint Michigan, Tampa Florida, St. Louis Missouri, Kansas City Kansas, Des Moines Iowa, Minneapolis Minnesota, Louisville Kentucky, Oklahoma City, Oklahoma, Dallas Texas, Fort Worth Texas, Denver Colorado, San Francisco California, Salt Lake City Utah, Phoenix Arizona, Lexington Kentucky, Los Angeles California, San Diego California. Our corporate offices are located in Los Angeles, California, Louisville, and Kentucky.
American Fortune Business Sale Advisors, a subsidiary of American Fortune Mergers & Acquisitions, is a consulting firm for business owners selling their business for sale by owner (BFSBO).