If there is no one to buy your business, you shut it down. In a liquidation you sell off your assets, collect your accounts receivables, pay of outstanding debt, and keep what’s left, if anything for yourself.
The primary reason to consider liquidation is that a business lacks sufficient income producing capacity apart from the direct [...]

You might begin the business transfer process with the thought that a sale to a key employee, co-owner or family member is the path to maximum cash on departure. This is very seldom the case. With proper preparation, more often than not, you can maximize the net dollars you receive by selling to a third [...]

One of the advantages of having other owners in your business is that they can be your means to retirement.  A common retirement planning technique is to take on a younger minority partner while you are still active. Upon your retirement, the younger owner will purchase your remaining stock.
This can be advantageous because the younger [...]

Stephen owned a successful health care business in the San Francisco Bay Area. He knew the time had come to transfer ownership of his business. He had started the company over 25 years ago, had poured his energy, talent and money into it and was proud of its success. Stephen had two sons working in [...]

Just last week I met with the owners of a manufacturing company in San Jose, California. Husband and wife had started the business 30 years ago and over the years had brought in their son and brother in law to work in the business. Now well into their 60s, the owners want to retire while [...]

Business owners often ask, “How much is my business worth?” The question may be irrelevant and a much better question is: “What is the most I can get for my business under the most favorable terms and conditions?” Answering this question in a more practical manner requires following one of two approaches. The first is [...]

You, or someone very close to you, are part of 78 million Americans that make up the largest population segment in the United States: Baby Boomers. This generation is classified as anyone born between 1946 and 1964. According to a recent study by BIG Research, 9% of boomers with household incomes exceeding $50,000 are small [...]

Someone once cleverly pointed out that “if you don’t know where you’re going, any map will do.” No one statement better underscores the importance of setting goals as the first step in building a successful business exit plan.
We’ve talked about the importance of owner-based business exit planning and establishing your objectives to create a road map [...]

I came across some recent research showing 40% of small business owners would like to exit their businesses right now.  Not surprising when you consider that the “boomers” are rapidly approaching retirement age.
What is surprising is that only 7% of small business owners have any kind of formal business exit plan in place - so [...]