Exit Planning

Preparing Your Business for the Future

You’ve spent your whole career nurturing your business. What happens next?

Family Transition

Keeping your business in the family ensures your legacy lives on. A few things to take into account:

  • Are your family members up to the task?
  • Do they have the skills required to run the company?
  • What are the transition expectations? Will you ask them to buy the business, or will you give it to them?

Frequently Asked Questions

Exit Planning FAQs

Read answers to some of our frequently asked questions about the exit planning process.

Family Transition FAQs

How far out should I start preparing to transition my business to my family?

Once the owner has identified that the potential for a family transition is a possibility, they should begin to assess the likelihood of a successful transition. While many owners have the goal of a family transition, we often see where the next generation of the family may not have the skills needed to fully take the reins. At that point, a partial family transition might be in order. All the more reason to begin the assessment stage.

How long does it take to transition a business?

With proper planning, a business transition can take as little as a few months. Most often, we see transactions take about six months to close. It is our hope, that with proper planning, the due diligence process is a smooth one. What will make a family transition a successful one is transitioning the duties and teaching the skills needed over a longer period, often two to three years.

Business Strategy Resources

Blue Value Advisors Blog

Browse our blogs for our expert advice on exit planning, business transitions, business valuation and more.

Let’s Prepare Your Business for the Future

It’s never too early to start thinking about the future of your company — even if leaving it isn’t in the cards yet. Talk to a Blue Value Advisor today to find strategies that improve revenue, protect assets, and prepare you and your stakeholders for what’s ahead.