Proper comprehensive advance planning around your personal and professional goals and objectives will enable you to come up with a solid succession plan and accommodate the needs of your family members as well as your clients.
Understanding the strategic options for exiting your business can help extend the value of your business and its legacy, while preserving the wealth generated for your future.
Some basic strategies to consider include:
- Keep it in the Family
- Management Buyout
- Employee Stock Owndership Plan (ESOP)
- Outside Sale