THE MIDWEST'S NUMBER ONE  FULL SERVICE BUSINESS EXCHANGE!!! 

Business Exit Strategies

  

Business Exit Planning:
Whether you're exiting a business or franchise,you need to implement
 a solid exit plan before you start the selling process or an acquisition.
This is where most business owners lose their insight and fail.
 You can't just hope for the best and wait for events to trigger a sure sale.
 And then trying to crush one to two years worth of planning
almost overnight?....impossible!!
 And what if your loan repayment plans go wild and
unforeseen events happen?
 This is why a "written exit plan" is HIGHLY recommended for all
business owners. So lets lay down a few strategies in this segment
that hopefully will be helpful!!!
QUESTION: "First, what are Exit & Succession plans?"

 
ANSWER: "Exit planning is the development of a strategy and a road-map that enables the business owner
to maximize value and leave their business on their own terms."
Don't just except what ever life throws at you, write down your terms.   QUESTION: "Why do business owners need Exit planning?"  ANSWER: "All businesses have a life cycle and one day you will need to
sell or leave your
business."


 The average business owner has 70% to 80% of their net worth tied up in their business!
 And 80% of all businesses are
not salable in today's economy for what the owners wants!!
EBBOC would determined 1st how much the business is worth and which of the 3 buying targets we would target 1. Family sucesssion 2. current management or employee's or 3 thrid party. In most cases it's the 3rd party, this means the deal needs to be packaged for this group to be effective & have the best chances to get the highest price. In most cases to transition out of the business will be an unanticipated drain on
their life!! Much like closing on a home for the first time.
  This is why preparing your business or franchise for sale
 3 to 10 years before exiting is important, and is something
we take serious at
E.B.B.O.C!!!
This plan should be driven entirely by you & your family's
 personal exit objectives.



  QUESTION:"When is a good time to start your Exit Planning???" ANSWER: "Again 3 to 10 years before your exit in a normal business cylce. Prepare ahead Call:
EMPIRE BUSINESS BROKERS OF CHICAGO,
FOR A FREE QUOTE ON A EXIT POLICY DESIGN FOR YOU AND YOUR BUSINESS TODAY.
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