Blog Library

Back to School, Back to Business (Transition Planning)

Posted by Jane Johnson on Mon, Sep, 25, 2017 @ 03:19 PM

Four important lessons on what you need to do before you think about selling your business

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Topics: Back to School, Busines Transition Planning, Thinking about selling my business, Selling Your Business Externally, Selling Your Business Internally, getting the best deal when selling your business, Business owner education, baby boomer business owner

Selling Your Business? Minimize Taxes and Preserve Your Hard Earned Wealth

Posted by Jane Johnson on Thu, Feb, 18, 2016 @ 04:48 PM

When owners are thinking about selling their businesses or transferring them internally, they don’t often realize just how much of their hard-earned wealth will go toward paying taxes. After all, the tax bite is often at least 30% and can be as high as 50% or 60% of the sale proceeds! However, there are tax planning techniques that you can employ before the transaction to keep taxes to a minimum and negotiating that can be done during the transaction to minimize taxes.

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Topics: Selling Your Business Internally, taxes, selling your business, selling my business, tax planning, protecting your wealth, selling your business to family, saving money on taxes

14 Key Elements of Successful Internal Business Ownership Transfers

Posted by Jane Johnson on Tue, Jan, 19, 2016 @ 04:00 PM

Selling or transferring your business internally rather than externally generally offers a distinct advantage: you already have an identified buyer or successor with a working knowledge of the business and an interest in acquiring it.

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Topics: Selling Your Business Internally, Internal Transfers, succession planning, internal sale of your business, choosing a successor, selling to your employees, Grooming a successor, passing business to my family'

Transferring the Business to the Next Generation: Business Transition Case Study

Posted by Kathy Richardson-Mauro on Thu, Jan, 14, 2016 @ 01:46 PM

Selling your business to an insider is definitely a process, not an event, even if you are selling to family members or an existing partner, as we discussed in Selling Your Business Internally: Ensure Your Legacy Continues.

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Topics: Selling Your Business Internally, succession planning, selling your business in 2016, selling business to managers, selling to an insider, selling business to employees, selling your business to family

Exploring the Benefits of Internal Business Transfers

Posted by Jane Johnson on Fri, Oct, 30, 2015 @ 11:30 AM

A recent article in National Driller magazine, “How Can a Driller Ever Retire? ESOPs May Help,” highlights the fact that business transitions are an issue across industries in the U.S. And while many people think they may sell their businesses externally, an internal transfer or sale may provide a better option for owners to achieve their financial and non-financial long-term goals. 

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Topics: family business planning, Selling Your Business Internally, Internal Transfers, exit plan, Family Business Transfer, ESOP, Employee Stock Ownership Plan

Business Transition Lessons Learned: The End of a Family Business in the Third Generation

Posted by Kathy Richardson-Mauro on Fri, Oct, 16, 2015 @ 04:40 PM

This case about the demise of a multi-generational family business highlights how important it is for owners, especially of older family businesses, to remain vigilant, innovate their products and services, engage in succession planning, and determine strategies to protect the family’s wealth for the long-term. Sadly, this story is more the norm than the exception; only around 30% of family businesses survive past the second generation and the odds only get worse after that – only 3% survive to the fourth generation. With proper planning, this family business could potentially have been passed on to the fourth generation and the family’s wealth would’ve remained intact.  

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Topics: family business planning, family business, Selling Your Business Internally, Family Business Exit, Family Business Transfer

Strategies for Long-Term Family Business Economic Success

Posted by Jane Johnson on Thu, Oct, 08, 2015 @ 03:16 PM

Why are Family Businesses important to our economy? 95% of businesses in the US today are family-owned or closely held. 80% of those businesses have 20 or fewer employees. However, these businesses are responsible for contributing over 45% of our GNP (Gross National Product)! These vital members of our communities generate more new products, create more new jobs, and contribute more to your local communities than their corporate counterparts! However, almost 35% sell or liquidate – often failing to realize their intended value. 

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Topics: family business, Selling Your Business Internally, Internal Transfers, Family Business Exit, Family Business Transfer, succession planning, succession

Business Transition Case Study: The Internal Sale Achieved

Posted by Jane Johnson on Tue, Sep, 22, 2015 @ 01:32 PM

Joe, was an absentee owner who started this latest business venture to reward his long-term manager for her 20 years of dedication and service. He just turned 54, his manager, Jean, was turning 60. Since the business was dependent on her efforts, he wanted to make sure they both would be able to “cash out” and enjoy the fruits of their success. Joe contacted us to maximize the value of his company and determine the best external sale option. With our assistance, he developed a Business Ownership Transition Plan (BOTP) and discovered there was another option that achieved his goals more favorably than an external sale.  

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Topics: Selling Your Business Internally

Lessons Learned: Which Business Transition Option Should I Pick?

Posted by Jane Johnson on Thu, Aug, 27, 2015 @ 11:31 AM

Having options is always nice. Choices broaden our opportunities. But they can also confound us immensely. We don’t want to live in a chocolate-and-vanilla world, but we can stand in front of the ice cream counter at Baskin-Robbins and stare at 66 flavors for 10 minutes and still pick our one favorite.

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Topics: Selling Your Business Internally, exit plan, selling your business, Leveraged Management Buyout, business transition lessons learned, selling my business, ESOP, Employee Stock Ownership Plan, business transition case study

What You Need to Consider if You Want to Sell Your Business Externally

Posted by Jane Johnson on Tue, Jul, 21, 2015 @ 12:43 PM

If you believe that your best transition option may be to sell externally, or you are strongly considering it, you are not alone. This is the option most often attempted, but not often achieved. Many owners want to sell their business externally because they don’t know about other options.

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Topics: Selling Your Business Internally, Selling Your Business Externally