Preparing for the Perfect Retirement
For every business owner, there comes a day when you must relinquish the reins. As difficult as it is to bid adieu to your life’s work and legacy, it is also a crucial step toward the next great adventure — retirement. Here are a few pro tips for planning a flawless exit:
Timing Is Everything
In an ever-changing market, you don’t want to plan your retirement date for the middle of a recession. Take your time and formulate the best solution that works for you and your business. Most of all, be flexible. There’s no way to predict the future, so expect — and prepare for — the unexpected.
There are many strategies to ensuring that your business is well taken care of post-you: Will you pass it along to a family member? Sell to an employee or partner? Sell it externally?
If you don’t want to be bogged down with business at every holiday or birthday celebration and have no interest in jealous employees, we suggest working with a brokerage so you have an intermediary.
At The Firm, we are your designated quarterback. Here are some reasons why business sellers love working with The Firm:
- Receive the highest price possible with the lowest seller carryback
- Selling price is based on a multiple determined by your cash flow
- Less stress about your staff knowing their jobs are secure
- Keep the original name of your life’s work
- Decide your future with a custom transition period
Admit it — owning/operating a business is tough work! We know that you work hard to maintain a successful company. We challenge you to work less, delegate more, and empower your employees. In doing so, you will position your business for success as you enter a smooth transition into retirement.
Treat yourself with The Firm. We’ll engineer your deal with polished performance. We are your ambassador and your advocate. With inspired elegance and a disciplined playbook, we play to win when it comes to selling businesses.
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