"As a commercial loan officer, I get asked a variety of questions but rarely does anyone ask about having a defined exit strategy in place for their business. I have read numerous business plans, and I find a lot of the time, this particular topic is either brushed over lightly or is missing altogether. Exit strategies are an important factor to consider for any business, including both a methodical retirement plan, as well as succession planning for a short term temporary absence or a permanent unplanned absence.
All business owners should plan with the end in mind. The norm is to develop your business, run your course, then retire based on an established plan. Exit strategies for business owners can include a variety of options including 100% liquidation; partial liquidation and purchase by an outside party; sale and/or gift to related parties (usually children); sale to a partner or co-owner; sale to employee(s); sale to a third party; or merger with a competitor. So what will be the best option for you?"
Read more at:
Your business exit strategy - Times-Standard Online:
For additional information regarding Florida business sales, acquisitions and valuations, please contact Eric J. Gall at info@buysellflbiz.com or 239.738.6227. Also, visit our Florida Business Exchange website at www.fbxbrokers.com and my personal website at www.buysellflbiz.com.
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