The reasons for an exit.
WHAT PROMPTS AN EXIT
Retirement Ill health Wanting to do something else An offer received The business outgrowing the owner Financial difficulty Partnership breakdown Death of an owner
WHY THE REASON MATTERS
It determines how much time you have, and time determines value.
WHAT A PLANNED EXIT PROVIDES
Time to prepare Choice of buyer Negotiating position
WHAT A FORCED EXIT PRODUCES
Whatever price is available.
WHAT THAT MEANS
Preparation should begin years before you intend to sell.
WHAT OPTIONS EXIST
Sale to an outside buyer Sale to a competitor Sale to staff or management Transfer to family Merger Winding down and closing Keeping it and stepping back
WHY THAT LAST ONE DESERVES MENTION
Many owners want to stop working, not to sell, and those are different problems.
WHAT TO ESTABLISH FIRST
What you actually want: money, continuity, a role, or simply to stop.
WHY
The options serve different objectives, and pursuing the wrong one wastes years.
WHAT TO TREAT THIS CATEGORY AS
General guidance, with legal, tax and valuation matters taken from qualified advisers.
