Mergers, Acquisitions, and Successions
Selling your business can be a difficult process that requires an in-depth business exit strategy. If not thoughtfully planned and executed, it risks future business problems including large financial issues. We have helped numerous contractors and other business owners with business transactions, from selling between partners to planning business succession to children, and we understand not only the legal consideration but the emotional and business factors as well.
Using our business background, we can provide a ballpark idea of how much your business is worth. The bottom line, your business is worth what someone else is willing to pay for it. From suggestions for “facelifts” that increase the value to getting a business valuation from a business valuation professional, we can help implement a business exit strategy that builds the value of your business for selling.
Typically, we recommend starting your exit planning three to five years in advance. There are countless items that you need to prepare, such as accounting documentation, that will enhance your selling power. We’ll help you decide whether your business needs “a simple coat of paint” or “a major facelift” to achieve the sale price you expect to receive. The goal is to have the business transition be as efficient as possible while realizing the full value from the business you’ve built.
The act of giving part ownership to another individual is a complicated situation. It means giving away, forever, all or a part of the control of your business. Forever. It requires entrusting power and authority to the employee or employees over your business which is a significant business decision.
We can help you evaluate your options for rewarding your employees that are best for your business. If sharing ownership is the best option, we can make that happen. If you are looking for a creative way to share profits and entice key employees not to leave without sharing ownership, we have options for doing that, too.
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