The dynamics of selling or transferring your business to the next generation or your key employees (who have become like family) can be tricky. The Exiting process must be correctly planned and executed. Key questions must be answered like:
- Is my retirement funded to my satisfaction?
- Do I need a “liquidity event” when I transfer my business?
- How can I make sure the Entering Parties are ready to become Entrepreneurs?
- How do I price my business to insiders?
- How do I manage multiple siblings and their spouse’s expectations?
- How do I fairly deal with active family members versus those not involved in the business?
- How do I minimize or eliminate the ensuing tax bill?
- What if the Entering Parties have minimal monies to put down?
- Who will fund the transaction?
- How do I keep the transaction at “arms-length” for IRS purposes?
We have helped numerous clients (unlike the typical business broker) transfer and/or sell their businesses to both key employees and multiple family generations. For more information on our proven methods to Exit Business Ownership via sale to an insider or a free copy of our Guide to Exiting Business Ownership, call (561) 882-1331 or fill out our contact form.