The single largest financial transaction of your life deserves special attention. 

Are you planning to exit and sell your business? Exit planning is quickly becoming a buzzword in the legal and financial communities. Your professional advisors are positioning themselves to provide tax, risk management, wealth management, and contract preparation services. BEST Exit Plan Advisor has been trained to manage your team of tax, legal, business, and financial planners to navigate your exit strategy. 

BEST has partnered with The ExitMap® to plot a general direction for your business as you begin considerations for your exit. The resulting “Exit Map” doesn’t provide step-by-step instruction but looks at multiple areas of your business, including financial readiness, ease of planning, revenue streams, and operational efficiency. Your BEST Exit Plan Advisor will then work with your team of advisors to optimize each of these four areas in preparation for a sale, as well as address three key steps in the process: assessment, valuation, and planning to become transition ready.

The first step in the planning process is to complete an ExitMap® Assessment. The online assessment tool is the first step in the process. It will reveal your overall preparedness for transition detailing four critical areas of financial readiness, ease of planning, revenue streams, and operational efficiency. The result is a 12-page summary report broken down by each area. Should you decide to continue in the exit planning process, we provide a full Exit Map Analysis for business owners. It is a 40-page report detailing the importance, urgency, and difficulty associated with each response given in the assessment.

Click here for a short video that explains The ExitMap® Assessment.

One of the most challenging aspects of your exit will be the business appraisal and valuation process. BEST makes it easy as we utilize advanced metrics gathered from BizEquity®, the industry leader. We incorporate each primary valuation approach to getting the most accurate valuation of your business. The process includes analyzing income, asset, market, comparable sales data, financial data (benchmarking), and industry data (risk assessment) from a diverse, growing, and global collection of resources. As data is entered, we will get an immediate, real-time valuation of your business that changes and updates with market fluctuations.

Knowledge is power, and knowing your business’s value allows the business owner to ensure their plans and goals are on the right track— a business valuation can put you ahead, especially when working with a buyer.

Contact us for a reliable and accurate valuation of your business, which you can use to develop a realistic exit plan. Let us generate a business valuation to give you the facts you need to make sound financial and business decisions.

Before you think about hanging your boots up— Are you ready? You see that question a lot when talking about succession and exit planning. Your financial and emotional readiness defines your transition readiness. The planning stage brings it all together, but we also need to address the emotional side. After all, we have seen business owners whose passion, hobby, and career are all wrapped up in their business. How do we not end up in the 75% of owners who played one round of golf and ended up profoundly regretting leaving their business in just 12 months?

Contact us, and we will partner with you to identify which value drivers will optimize your company’s value. The resulting exit plan will identify strengths, weaknesses, opportunities, and threats. The improvement of the risks and vulnerabilities will help determine the best timing and ways to exit your business at its highest value.

Your business exit plan may include seeking to transfer ownership to family members, help employees in a leveraged buyout, or sell it to a third party. Each of those strategies could take years to implement in a way that maximizes value and minimize taxes. Let BEST lead your professional team through a coordinated process, focused on supporting and accomplishing your objectives.

The events of this year have profoundly affected professionals, with many choosing to retire early. We are experiencing an increase in both succession and exit planning across a wide variety of industries. 

Due to our Exit Planning Advisory services, BEST was asked to put together a seminar at a recent virtual trade event (Cultivate’20) to address the coming surge of Baby Boomer retirements and business exits. Thus, we created a timely on-demand educational session on this topic called Succession Planning When There is No Succession that summarizes our exit planning process.

For viewing the seminar, simply complete the form information below or email us, and we will gladly send you a copy of BEATING THE BOOMER BUST by John F. Dini, CExP, CBI, CMBA and Creator of The ExitMap® system at no charge.

The eBook is an informative look at the retiring generation of business owners, and why preparation is so vital to financial success. Also, let us know if you are interested in taking our FREE ONLINE ASSESSMENT.

Thank you, and let’s get started on your plan today!