Most entrepreneurs enter the business world not because they plan to sell their business in the future, but because they enjoy being in business for themselves. The transition stage of business sometimes is referred to as the "decline" phase; however, in many instances this stage best describes what current owners want to do as they transition out of the business's day-to-day operations. In family businesses, senior members may be transitioning to junior members. In other situations, a company owner may be interested in selling the business or simply selling a vested interest to a partner that will assume primary managerial responsibility.
During this stage, you will want to examine all of your options so you can make a decision that will best meet your needs now and for the future. Retirement issues, business valuation questions and risk mitigation are all players at this stage of the business game. Perhaps one of the most important things to acknowledge before selling a company is that tax minimization strategies and business valuation are on opposite sides of the equation. When you decide to sell, give us a call so we can work with you to position your company for maximum asking price.
PKF Texas Services for Transitioning Companies