Tip #197: Does the Business Have an Exit Plan in Place?

tip 197Too many business owners don’t take the time or effort to create an Exit Plan. It can make a huge difference in the value of the business when it comes time to sell. The process starts with getting a valuation to understand the reality of where the business is right now. This gives the owner a starting point and direction for future planning. There can be a number of elements that need attention – key employees, equipment, facilities, customer concentration, the list goes on and on. And it can take months or even years to reach the valuation goal of the owner. It is important to work with a Business Broker or M&A Advisor to get the process started.