Business Sale Preparation

 EXIT & SUCCESSION PLANNING

We have encountered many entrepreneurial and successful business owners that are caught up in the day-to-day activities and never take the time to plan for the exit or succession . The result is a much lower sale price for the business when the day suddenly arrives.

At OPEX, we believe all businesses should be ‘exit ready’ whether you are selling now or in the future. Unforeseen circumstances may force a sale sooner rather than later. If you wish to maximise the opportunities and sale price, you should start addressing some of the following issues now. The folllowing list is just a start.

Determine when and how you will leave the business

Determine who will buy your business, identify strategic buyers

Have you identified a candidate, internal or external, to succeed you?

Do you have strategies in place to maximise or enhance the value of the business?

Discuss estate and tax planning issues with your lawyer and accountant

What will you do after selling out or retiring?

Develop a strategic plan and identify your exit options

Engage an intermediary, like OPEX, to help you stick to your plan

Document the exit and management succession plans

It is worth noting that ownership succession and management succession do not necessarily go together. The new owners or majority shareholders may not wish to manage the company.

Please do not hesitate to contact us if you need more information.

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