Exit Strategy & Exit Plan For The Family Business Owner

Do You Have One?

The owner and manager of a family business who is planning on retirement has many goals: paying as little in taxes as possible, keeping the business in the family, treating heirs fairly, and ensuring a competent successor management team….just to mention a few.

However, achieving all your goals is a major challenge. A family business exit strategy must be custom fitted to your financial situation and your desire to have no family feuds. A well designed and implemented exit plan is a powerful and valuable business and personal planning tool.

The following are some strategies that you may want to consider and with the help of Snebold Family Business, your local #1 family business consultant, you can achieve your exit goals, maintain family harmony and maximize your business valuation.

The Benefits To Business Owners Having An Exit Strategy Plan:

· Help the family business owner build a “BIGGER FUTURE”

· The motivation to “professionalize” the business

· Achieve your business and personal goals

· Facilitate your retirement (if that is a goal)

· Control how and when you exit

· Ensure survival and growth of your business

· Preserve family harmony

· Reduce employee and family uncertainty

· Maximize company valuation in good and bad times

· Minimize, defer, or eliminate capital gains, estate, and income taxes

The Price You Pay Without An Exit Strategy Plan:

On the other side of the equation, the failure to have a well-defined exit strategy plan results in real costs to the business owner. Without a comprehensive exit strategy plan, the business owner typically:

· Undervalue their company leaving hard-earned wealth on the table

· Pay too much in capital gains and estate taxes

· Lose control over the exit process

· Fail to realize their personal, financial, or business goals during the exit process

Advice for Every Stage of Your Exit Journey

At Snebold Family Business we know that business is always personal. Exiting the family business you have developed is not an easy process, but careful advance planning will result in a smooth transfer that will meet your goals.

At Snebold Family Business we have over 30 years of “LOCAL” experience working with the family business owners.

Contact us today