Exit Planning

Preparing Your Business for the Future

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

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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?
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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.

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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.