Building a successful business can help to realize the American Dream, but it demands significant work, passion and determination. Why jeopardize all you have built with a poor exit strategy? Regardless of what lifecycle your business may be in, business continuity and succession planning should be considered well in advance of any event or circumstance that may affect it.
Careful consideration of your options makes all the difference
What will happen to the value of your company if you sell or transfer it to a non-family member? What if you sell it to your employees?
A business succession plan helps to ensure that regardless of expected or unexpected circumstances, a smooth transition of business can occur, and full value for your business can be reached. Succession planning should include the long-term goal of retirement, and should also focus on unexpected events and contingency planning.
A predetermined exit strategy can help:
- Build equity value well before you transition the business
- Ensure continuity of service for your clients, customers and other stakeholders
- Provide for an efficient transfer of business to the party of your choosing
- Allow you to retire on your schedule
- Time your exit to maximize value
- Minimize the tax impact
- Help remove emotional decision making
- Eliminate the risk of a fire sale
- Provide career-path opportunities to existing associates and/or elevate key employees to owners
- Coordinate with your personal estate plan to minimize estate taxes
- Plan for the unexpected
At PFS, we help business owners develop succession plans designed to meet both personal and corporate objectives. Find out today how we can help you take control of your exit strategy.
Take control. Promote certainty.
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Whether you're seeking to establish a new relationship with an advisor who puts your interests first, or are simply seeking a second opinion, we will always welcome your inquiries. Schedule a consultation with one of our advisors today.Schedule