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Business Succession

Business Succession Strategies

Every business owner should have an exit strategy, even if that exit is years or decades into the future. Not only can that help facilitate the sale of the company to a new owner or the handoff to the next generation, but it can also prepare your family and employees for unexpected contingencies. At Pickarski Financial Group, we make the detailed business succession planning process easier.

Here are the 5 most common ways of transitioning out of the business.

  1. Liquidation of business assets
  2. Sale to a third party or family member
  3. Sale to other owners
    1. Buy-sell issues need to be vetted before the heat is on
    2. Premature death of owner is a possibility
    3. Disability of the owner is a possibility
    4. Retirement is the most likely scenario but need to plan for others
  4. Sale to a key employee
  5. Sale to employee’s retirement plan (ESOP)

No matter which scenario you are looking at, it is time to call us today and start planning for your future.