Selling to an inside buyer such as one or more of your business partners or employees can be deeply rewarding. Long-term, valued co-workers become like extended family to many owners. To see the business continue forward under the leaders that you helped develop acknowledges all your efforts, and launches your business legacy. In some situations, your employees may be the best potential buyer. They know the business, and would rather own it after your exit than go work for somebody else.
The following case study is based on a true story. For owners of closely held businesses, this case study highlights the importance of engaging an experienced and professional exit planning team. Even when an exit appears to be years in the future, circumstances might force a change to the exiting owners’ timing. Therefore, we recommend that all business owners seek help from professional exit planners, like our NAVIX Consultants.
The need for owners to start with their exit plans is intensifying in the US. The aging Baby Boomer population seeking to sell their businesses may flood the market in the next ten to fifteen years, making it difficult for owners who are unprepared.
The following case study is based on a true story. For owners of closely held businesses, this case study highlights the importance of engaging an experienced and professional exit planning team. Even when an exit plan looks like it will work at a high level for all parties involved, there are often hidden problems and issues that can cost the exiting owner millions of dollars. Therefore we recommend that all business owners seek help from professional exit planners, like our NAVIX Consultants.
The following case study is based on a true story. In an earlier case study – The Third Times The Charm, we discussed Bill and Billy Smith, who with our help were able to successfully sell their company to a member of their management team. In this edition, we will highlight an inside sale that was not completed after going through our structured exit planning process, and this turned out to be the best outcome for the business owner.
