Life can change quickly. If something unexpectedly happens to you, your business could be adversely affected and your day to day operations could come to a complete halt. Business owners must prepare for unexpected events and have a contingency plan for worst-case scenarios.
Business owners probably think of retirement as a time to let go of all business stresses and to finally begin relaxing. Surprise—according to a recent study, more than 70% of former owners regret selling their companies less than a year after the sale. What causes so many to regret their decision? The culprit seems to be the lack of preparation on the part of the business owner.
Out of the blue, you are presented with an irresistible offer for your company. You hadn’t considered selling your prosperous business, until now, and you feel that you’re faced with two options: welcome the prospective buyer’s offer or walk away.
Most people think of due diligence from the point of view of a prospective buyer. While that is typical, it is now becoming more common for business owners to conduct their own due diligence to fix any weaknesses within their company in advance of a potential sale.
Favorable economic conditions alongside baby boomers looking to exit their businesses over the next ten years have resulted in an active M&A market. While there are many exit options, business owners should consider a recapitalization using a private equity firm.
Baby Boomers are retiring in record numbers and many baby boomer business owners will be looking to exit their businesses over the next ten years