Over 50% of business owners say their exit plans are at least three years out, with some saying as far as 10 years down the line. And more than two-thirds of business owners say it is important for a company to be profitable and successful through the ownership transition process.
But how do you begin?
The preparation stage is key to executing a successful transition process. As you think about what’s next for your business, begin with the end in mind.
Choosing a Transaction Advisor
A trusted business advisor can help you understand the different decisions and actions you can take on your transition journey, including:
Why Eide Bailly
Our team can help you best position your business in the marketplace. We develop action plans to help you understand your options, make the most of opportunities and prepare your business for transition. We’ll help you understand your business’s unique value (or the value of the one you’re planning to buy) and help you make informed, strategic decisions about your company’s future.
Our people are trained business advisors with certified merger and acquisition experience, valuation expertise and more. Plus, we’re backed by a Top 25 CPA and business advisory firm with services to holistically help you in all aspects of your business.
The personal touch and extraordinary effort the Eide Bailly team put forward has far exceeded our expectations and any experiences we've had with past CPA firms. "
By conducting annual or periodic valuations of your business, shareholders will know and understand the value of your business throughout its lifecycle.
There are many options to consider when it comes to transitioning from running a business full-time to scaling back, including setting up employee ownership options, exiting, retiring, selling to private or public entities or succeeding to family.
Eide Bailly can help you with:
The confusion and complexity of mergers and acquisitions can be mitigated by an experienced advisor who knows how to get a deal done.
Involving your advisors early in the due diligence process allows them to better understand your needs and help you formulate an appropriate due diligence strategy for your sale or acquisition.
Eide Baily can help you with:
Interested in learning more about growth and success, compliance issues, the year ahead and more? Join us for one or all of our educational/informational webinars designed to keep our clients, colleagues and friends informed on innovative business and tax strategies. The tools and resources presented will help individuals and organizations make informed decisions and remain successful in a competitive and ever-changing marketplace.
Transitioning your business can be complex.
Let us take the confusion out of what to do next.