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When
considering exit options, selling the business is usually the first choice that
comes to mind. Unfortunately, many business owners consider it their only choice
- but as you can see, there are actually several options available. If you have
mentally moved on and want out, a sale might be the best solution.
If
you think about it, almost every option except bankruptcy is a sale of one kind
or other. But selling to a third party is what we are focusing on here. There
are two types of sale - a stock sale and an asset sale. These are treated
differently from a tax standpoint.
Potential
buyers may have a number of reasons to want your business. There may be
synergies that will help them save money, or they may want a presence in your
geographic market. Maybe they just want to eliminate a competitor.
Selling
a business requires patience, effort and teamwork. There are many steps involved
in a sale (see our Transactions page) and each one is critical. Our goal is to
make this process as smooth as possible, allowing you to continue to concentrate
on running your business while we take care of the details.
As
we embark on the process of preparing your business for sale, you may decide
that there are reasons you don't want to completely walk away. Maybe your
management team is stepping up, and you can see them taking over the company -
saving you time, effort and money trying to lure a third party.
In
some cases there may be a benefit of only selling a portion or even a majority
of your business, while keeping a slice of equity to share potential upside. In
cases like this, you may want to pursue another exit strategy.
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