An Introduction to Exit Planning

Growth & Profitability
January 2021
Put simply, an exit plan addresses all of the business, personal, financial, legal, and tax questions involved in transferring ownership of a business.

Exit planning focuses on moving a business from one owner to another.

If you don’t plan on being in your business forever, you need an exit plan. Whether the future of the business involves a sale or leaving it to the next generation to take over, an exit plan will ensure you’re prepared to leave your business at the right time.
For many business owners, a large portion of their net worth is tied up in their business (often up to 80%). Since business owners are often focused on many different aspects of the business, it is crucial that planning for such a large personal asset is not ignored.

This is where an exit planner can help.

A knowledgeable exit planner can help you craft a financial plan for your business and discuss your options with you so that you can choose the best path for your personal financial goals and your business.

Running a successful business doesn’t always equate to a successful sale. You must take the necessary steps years in advance to maximize your business’ value and get the price you need out of a sale to live the lifestyle you want after exiting your business.

The earlier you begin planning, the more options you will have.
Our exit planning experts can help you take advantage of the potential value that can be created in your business and consider all of the tax, financial and legal strategies to help you reap the rewards of your largest asset.

Get in touch with us today to start working with a Certified Exit Planning Advisor.