Exit Planning: Introduction
planning your exit now or sometime in the future
Why develop an exit plan:
- every business owner will need to exit whether it is soon or sometime in the future
- the goal is to exit at the most advantage time when you achieve the greatest financial and transitional benefit
- your exit plan should put in place 4 key components:
- design the estate plan and tax implication of an exit
- implement marketing and e-commerce strategies that protect and grow your markets
- get your financial statements in order
- develop the operations when "you" the owner are not involved in the day-to-day operations
- your exit plan must also decide on which type of exit;
- family succession
- ESOP (employee stock ownership plan)
- direct sale
The Novars Group can help design an exit plan that works for you. We invite you to download our illustrative model as a guide. We will use the model to illustrate the following segments:
Illustrative segments can be downloaded as reference guides.
- introduction: exit planning model
summary introduction of the exit planning model with FREE download
- review the long-term financial & estate planning goals
reviews the long-term financial and estate planning goals and objectives
- start the exit plan with a business valuation
discuss the exit planning process that begins with the business valuation
- does the valuation meet owner objectives
does the valuation meet the financial and estate planning goals of the owner
- if no: revamp operations to increase the valuation
if no: move down the model to review the business fundamentals
- if yes: decide family succession, ESOP, or direct sale exit
if yes: decide on the type of exit - family succession, ESOP or direct sale
- choosing the direct sale as your exit plan
reviews the direct sales process as an exit plan
- why should every business owner develop an exit plan?
- what if I don't have long-term financial and estate planning goals, can the Novars Group help?
- what if the valuation of my current company position is below my financial goal?
- what are the next steps after you complete an assessment of the business fundamentals?
- how long will the implementation of the plan take before I can see my valuation go up?
- can we move to the exit (direct sale) regardless of the current valuation?
- M&A/brokerage services
reviews our business brokerage, business selling and M&A services
- current listings
list of current businesses that we represent including buy side
- exit planning design
review of the exit planning process with advisory points
- valuation services
finding the value of your company using 3 key approaches
- business advisory
not ready to sell until the value is up - we provide the tools
- business listings services
selection of services for business owners selling on their own
- tools & other stuff
helpful tools to help you make decisions