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Exiting business ownership, or planning a business exit, is a significant decision requiring a well-thought-out strategy, especially if transitioning to an outside party, key employees, or a family member. Here’s what to consider, why careful planning matters, and how a trusted advisor like Bankers Advocate can assist.
Key Questions to Ask Before Exiting Your Business
If you’re contemplating selling or transferring your business, it’s essential to ask and answer critical questions about financial goals, succession, and the ideal buyer.
- Who will take over the business? Will it be a family member, key employee, or an outside buyer?
- What are my financial goals post-exit? Knowing your needs is vital for planning the sale price.
- Is my business financially and operationally ready for sale? Buyers seek a smooth-running, profitable operation.
The Value of a Well-Designed Business Exit Strategy
A comprehensive Exit Strategy is crucial for maximizing value while meeting personal and financial needs. Unlike many business brokers, Bankers Advocate has specialized experience in tailoring Business Exit Strategies.
Choosing the Right Type of Sale
If an outside sale is the best path, securing the right buyer is essential. This requires a well-trained professional who can guide you through the process, making sure it’s a “win-win” for all.
- Finding Qualified Buyers: An experienced professional can identify interested parties and create a favorable environment for a successful transfer.
- Creating a “Win-Win” Situation: It’s essential to ensure both parties benefit from the sale.
Our 52-Step Targeted Marketing Plan
Bankers Advocate’s exclusive 52-Step “Targeted Marketing Plan” aligns the goals of exiting clients with the requirements of legal, financial, and industry-specific professionals.
- Targeting the Right Buyers: With a constantly updated database of over 500 Private Equity Groups and strategic buyers, Bankers Advocate ensures qualified leads.
- Meeting Transaction Needs: The team coordinates with attorneys, accountants, bankers, and other professionals to meet all parties’ needs.
Confidentially Marketing Your Business
Confidential marketing is a priority. Ensuring the details of your business remain secure is critical to preventing potential operational disruption.
Guidance Through Every Step of the Process
Bankers Advocate shepherds every involved party, including advisors, through each stage, streamlining the business exit for a smoother, less stressful experience.
Pre-Financing Arrangements for Smooth Transactions
Pre-financing arrangements mean potential buyers are screened, so only serious and qualified candidates are involved. It also helps maintain control over pricing.
- Saving Your Time: Only pre-screened, qualified buyers are introduced, minimizing disruptions.
- Maintaining Control Over the Sale Price: Third-party appraisals allow for a realistic and competitive sale price.
Understanding Tax Ramifications Before You Sell
Taxes play a large role in your sale’s profitability, and unexpected tax liabilities can be costly. Bankers Advocate conducts a Tax Minimization Analysis to ensure you retain more of your proceeds post-sale.
Our Fiduciary Responsibility to You and Your Family
As your exiting client, Bankers Advocate is committed to being an uncompromised advocate. With a fiduciary duty, the team works solely in your best interest throughout the entire process.
Get a Free Guide and Learn More
For more information on successfully exiting business ownership, contact Bankers Advocate at (561) 882-1331, or fill out our contact form to receive our free Guide to Exiting Business Ownership.