Q: I’m thinking about an exit plan, what should it include?
JT says: A basic exit plan should not be complicated. Key answers should include:
- What is my business worth?
- When is the best time to sell?
- Who should help?
- How will a sale likely be structured?
- What is my after-tax yield?
- How do I preserve those funds for my best retirement?
Obviously, there can be dozens more surrounding real estate, key employees, buyer types, confidentiality, finer points surrounding deal structures, the possibility of working after a sale, non-competes, etc.… including asking yourself “What comes next?” Everybody’s need for information is different. Please know answers to the ‘Big 6’ above are readily available, acting as a foundation for every other question that follows.
Get Answers + Get Prepared = Get Retired
Have a question for JT? Don’t worry, all questions will remain anonymous! You can email JT at jt@exitstrategies360.com.
