Owner’s reasons for exiting their business vary as does the method of ownership transfer.

Succession planning is an area of interest to all business owners and entrepreneurs, and positive and immediate benefits are gained if exit options are explored and planning implemented well ahead of the planned exit date.

Some basic questions to ask:

• Where is your business today?
• What is the current market value of your business?
• What action planning such as coaching and mentoring should be implemented in advance of the exit date to improve profitability and consequently increase the business value
• What could your business be worth at the considered exit date?
• What exit options should be explored e.g. Family succession, external sale, MBO, MBI, acquisitions and or mergers
• Who are your prospective purchasers
• What realistic steps can be taken to achieve the maximum outcome?
• How should we create a business plan and exit route strategy