More often than not, business owners do not have a good business exit strategy and are ill-prepared for that transition when the time comes. Business owners should ask themselves, what is my end goal with the business? Do you want to sell it to a family member or a third party? Are you looking to go public or get acquired by a larger company? Would you like to continue to own the business but not operate it? Knowing the answers to these questions will help you determine what steps should be taken while you are actively operating the business to prepare for your eventual exit.
At The Franchise & Business Law Group, we walk our clients through the different alternatives and help them develop their exit strategies and ensure that the proper documentation is in place to make their exit strategy a reality when the time is right.