Part of the American dream has always been to own your own business and pass it down to future generations. Today’s business owner has to decide if he or she is keeping the company and passing it down, or selling it to a third party who can enhance and expand his or her dream.
We take on the responsibility of making sure that the family business stays in the family for generations to come, or thrives under new ownership.
There is a very different plan if you are going to keep a company and transfer it than if you are going to sell it to a third party. Planning for neither puts you in a position where outside forces will dictate your future, exposing you not only to lost opportunities but also to millions of dollars in taxes that could negatively impact moving the business to the next generation.
With a new client, we start with the “keep sell grow” process. We sit down together, evaluate the existing business and the family financial objectives, and determine what is the most appropriate way to take the business forward. Is it most appropriate to keep it and give it to the next generation? Are the children working in the company capable of taking on the business and managing its ongoing growth? Or is it most appropriate to sell that business and create a new family enterprise to manage the liquidity the sale of that business created?
From this straightforward first conversation we are able to map out a meaningful plan of action and arm our clients with some extremely powerful tools.
1. Keep/Sell/Grow Business Analysis
2. Liquidity Alternatives
3. Business Valuation
4. Selling Your Business
6. Debt Restructuring
7. Management Buyouts
8. Family/Partner Buyouts
9. Employee Ownership Plans (ESOP)