Corporate Business Solutions is recognized for using our expertise, experience and education to access the information that is often necessary for growth in small and medium – size businesses. We specialize in helping business owners form the best exit strategies to reach both their personal and professional goals.
Exit strategies are something that every business owner will eventually utilize. When you partner with us, you decide what exit strategy means to you and your business and we provide the guidance to fulfill your dreams. Having an exit strategy worked out in advance helps ensure that you like the answers to those questions and gives you some control over your small business's future. Here is an example of five exit strategies that small businesses may choose from:
Liquidation - This exit strategy means close the door and sell all assets. To make any money with such an exit strategy, your business has to have valuable assets to sell, such as land or expensive equipment. And profits from selling assets have to go to pay creditors first.
Sell the company in the open market - This is often seen as a popular option for small businesses, but is more complicated than it seems. Unless the business has been structured with the right methods, systems and controls which will allow a new owner to run the business successfully, many buyers will be wary to invest in a business whose success is directly tied to the previous owner’s involvement in every aspect of the business. At a certain point in time, often when he or she is ready to retire, the small business owner puts the business up for sale for a certain price - and hopefully walks away with the amount of money she wanted to get for it. For this exit strategy, you should spend time preparing your business for sale, making it as lucrative as possible to potential buyers. One important question to ask yourself: Are you building a business worth buying?
Sell to another business - Positioning your small business to be a desirable acquisition can be very profitable. Businesses buy other businesses for all kinds of reasons, from using a new acquisition as a quick path to expansion through buying out (and eliminating) the competition.
Keeping it in the family - The goal of many small business owners is to keep your business in the family and ensure that your legacy lives on. As an exit strategy, it can also give you the opportunity to groom your own successor and even perhaps give you some continued say in the business.
Selling to employees - Current employees and/or managers may be interested in buying your business. Arranging an employee buyout can be a win-win situation as they get an established business they know a great deal about already and you get enthusiastic buyers that want to see your business continue to thrive.
To learn more about us and / or to schedule your appointment with the business experts at Corporate Business Solutions, call us today at 877-357-9366.
