Menu
Search

Succession Planning & Exit Strategies

Prosper Financial will help you select the exit strategy or succession plan that meets your specific needs and the needs of your business. We understand that circumstances change, so we will also be available to assist you should you ever want to amend this plan in the future.

Home
/
Products & Services
/
Services For Businesses
/
Succession Planning & Exit Strategies

Succession Planning & Exit Strategies

As a business owner, managing the day-to-day operations of your business and helping it grow and thrive in the present often takes precedence over planning for the future.

With so much on your plate, it can be difficult to think about placing your business in someone else’s hands. Regardless of the stage you are currently in, the day will come when it is time to hand over the reins. Having a succession plan and exit strategy in place can help ensure that this process goes smoothly. The knowledgeable professionals at Prosper Financial are here to help you develop a plan that will foster a successful transfer of business ownership when the time comes.

Common Exit Strategies for Business

We will help you analyze the needs of your business, your goals and all the exit strategies available to you so that you can choose the strategy that best suits your business. There are a variety of commonly used exit strategies, some of which include:

  • Transferring ownership of the business to a family member or other successor. One of the most common exit strategies is to pass ownership of the business to a pre-selected family member or successor. This is often a very smooth process, but it can be challenging to select and train the right successor.
  • Employee or management buyout is another commonly used option for business succession. In this strategy, the employees or managers of the business will combine their funds to purchase the business from the current owner. This is a good option for a business owner that would prefer not to sell the business on the open market but instead sell it to someone they know and trust to uphold the integrity and brand of the company.
  • An open market sale is a beneficial option for many small business owners. This straightforward process includes determining the value of the business, setting a sale price, and listing the business for sale.
  • Another option is business liquidation. With this strategy, you sell the business without the intent to continue its operations. You effectively dissolve the business by selling all assets.

Leave the Planning To Us

The best exit strategy for your business will be dependent upon your personal preferences, your goals for your business, the current marketing and the opportunities available. Depending on these factors, one or more of the above options may not be viable.

To learn more about the services we offer and to determine how we can assist your business, contact our experienced business financial planners today.

×
Call Now Button