What is Exit Planning?
Exit planning is the process of developing a business owner’s strategy for what may be the biggest financial transaction of his or her life… the transfer of the business.
What does it involve:
it involves tax, legal, financial, operational and risk management expertise. No one practitioner has all the knowledge required for every aspect of the plan. Exit planning, in the true sense of the word, is coordinating all those skills for a single objective.
Understanding the Complexities of Exit Planning and Preparing a Company for Transition
That strategy may be a succession to the next generation of family. It could be a sale to employees. It may be a sale to another entrepreneur, or acquisition by a larger company. In some cases, it could require an orderly dissolution.