SELL YOUR BUSINESS
SELL YOUR BUSINESS EFFECTIVELY WITH OUR HELP
Selling a Utah business on your own can be difficult. Whether you are selling your business for financial gain, relocation, retirement, or other reasons, it is important to let an experienced business broker handle the transaction. Our business brokers know how to sell a business, and ensure maximized value for your company.
ADVANTAGES OF WORKING WITH A BROKER TO SELL YOUR BUSINESS
CHOOSE EXPERIENCE WHEN SELLING YOUR BUSINESS
SELLING YOUR SALT LAKE CITY BUSINESS
EVERY BUSINESS NEEDS AN EXIT PLAN
Business Exit Planning is a proven process designed to allow an owner to identify and achieve specific personal, financial, and estate planning goals.
We understand selling a business is the most important financial event in a business owner’s life – the reality is the owner has only one chance to get it right! Not having a formal exit plan puts you at risk of not getting maximum value for your business. Fortunately, Utah Business Consultants helps business owners in Salt Lake City, Utah and surrounding states create exit plans and prepare for the future effectively.
ANSWER THESE QUESTIONS:
CPAS WE KNOW AND TRUST
M&A LAWYERS WE KNOW AND TRUST
Brittany J. Black
WEALTH ADVISORS WE KNOW AND TRUST
SBA LENDERS WE KNOW AND TRUST
Ryan Furstenau - Live Oak
Jeremy Bills - Key Bank
THE SEVEN-STEP SUCCESSION PLANNING PROCESS
1. IDENTIFY EXIT OBJECTIVES
Your Succession Plan will rest on three owner-established fundamental goals:
- When you want to sell or cut back significantly from day-to-day operations
- How much money you want when you sell
- Who you want to sell the business to
2. IDENTIFY BUSINESS & PERSONAL FINANCIAL RESOURCES
Where you are is as important as where you want to go. This step determines what you have so you know what your business is worth.
3. MAXIMIZE & PROTECT BUSINESS VALUE
What features, or characteristics, are necessary to make your business saleable and valuable? These specific Value Drivers either reduce the risk associated with owning the business or enhance the prospects that the business will grow significantly in the future.
4. SALE TO A THIRD PARTY
Selling your business to an outside third party will certainly minimize your financial risk and eliminate any family succession planning issues. Your succession plan will develop an action plan that will set your business up to sell for its highest value.
5. SALE TO INSIDERS
A sale to insiders (family members, key employees, other owners) does not end with the closing. Only when your price is paid in full does the sale end. In this step we will identify action items that orchestrate a successful sale to insiders who often lack sufficient cash.
6. BUSINESS CONTINUATION
Business continuation is much more than simply making sure there is a new owner. If you die or become disabled before your succession plan is complete, your dream of financial security will become unattainable. Your succession plan will develop solutions to realizing your business’ value in case something unexpected happens to you or your business partners.
7. PERSONAL WEALTH & ESTATE PLANNING
The final step in creating your succession plan is to resolve issues related to preserving your wealth and passing it along to your loved ones. Your succession plan will work to resolve these issues and provide a clear road map in achieving your goals and objectives.