We are all getting older. The reality of this is that while many baby boomers have deferred the sale of their businesses given the impact of the Global Financial Crisis. Time is marching on for them. As a result many are now facing the reality that it is time to sell the family business and retire, while they have reasonable health and time to do the things they have always dreamt of.
Fortunately the reality for these business owners is that there are plenty of willing buyers out there looking. Moreover, the prices are not too bad either, even if the heady PE’s of the 2000’s are no longer being achieved.
Many business owners did try to get the best of both world by having a high powered CEO and agreeing to share with them part of the gain in value that they created. Sadly however the reality is that most of the CEO’s simply did not achieve their promises, and often left the businesses in worse shape than when they started.
So we are busy working with our clients to prepare their businesses for sale, and to maximise the amount they receive on the sale. Then we are helping them plan how to manage and invest the proceeds, and more importantly what they will be doing to fill the void in their lives. For many, that won’t be hard.
That just leaves us to discuss the question of generational wealth succession with them: how much they want to ultimately give to their kids, and how we educate them to manage that. Charitable purposes will normally account for the balance.
So if you are at the cross roads of deciding what to do with your business either give us a call or at least review our white paper – The Multi-Million Dollar Dilemma