Do you have a Business Exit Plan?

Have you decided on an Exit Strategy for your Business?

Will it be to sell it? To whom?
An outside buyer or an employee?
Will you have a relative take over?
Is it to be an “Absentee Owner”?
Will you close the doors?
Haven’t Considered it yet?!

Let me give you some statistics

52%  Of Business Owners Are Over The Age Of 50*
80%  Of Business Owners Plan To Exit Their Businesses In The Next 10 Years.
41%  Want To Exit In The Next 5 Years!
75%  Would Exit Today If Their Financial Security Were Assured.

Baby Boomers Dilemma

There are some 12 million baby boomers who own a business, and
80 % of them will:
want to, need to or will be retiring over the next 5- 10 -15 Years.

Up to 90% of their net worth may be tied up in the business.

There are 40% fewer potential buyers for your business.

Generation X is 40% smaller than the Boomer generation.

Millennials?

80% of Millennials say the stress of owning a business is too high!

 

Family?

82% Say they want the money from a Sale, not interested in running it.

89% of Business Owner family members are NOT interested in the business.

21% are not qualified according to the owners.