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Glass Buildings

Business Owner Succession & Exit Planning

The selling of a business is a process, not an event. It takes years of planning and preparation to get ready for the ultimate sale.  – Kevin Fringer


Business owners usually have years to plan their ultimate and ideal exit. Unfortunately, many businesses are forced to try and execute a Succession Plan on very short notice due to the death, illnesses, or serious injury of an owner. 

The reality is, without a written Succession Plan, the business could have a hard time succeeding after the current owner(s) are gone. Here are just a few of the problems that arise when companies do not have a thought out, documented and communicated succession plan:

  • The people that the business owner intended to take over for them or to fill certain roles may not happen in the way they wanted and could result in key people leaving the company and/or disputes amongst employees and family members

  • The compensation structure for the successors is not spelled out ahead of time and that can also lead to departures and conflict

  • The ownership of the company and/or the sale of the owners’ shares are not established and left for the surviving family to determine and negotiate

  • The ongoing compensation for the surviving family will not be clarified ahead of time and thus jeopardize their financial wellbeing in the short and long-term

  • The "Who", "How Much", "Where" and "How" questions will be left for others to determine

    • Who does the owner ideally want to succeed them as owner?

    • How Much will they pay for their shares of the company?  Is there a pre-determined formula that will be used to determine the value?

    • Where will the money come from?  Company cash on hand, external buyers capitol, a loan, ESOP, or future company cash flow?

    • How will the payout happen?  Will it be a lump sum, installment payments or some combination?

  • An injured or ill owner can become an “absentee owner” who may no longer be able to contribute to the success of the company but they may still expect or need their share of profits and create a drain on company cash flow

  • There may not be sufficient liquidity to carry out the succession


The good news is that business owners can achieve their true desires for their business beyond themselves by implementing a Written and Funded Succession Plan.

We have a high level of expertise in crafting and implementing these types of plans.  Contact us to find out more.




There is lack of professionals that consult with closely held business owners on how they will ultimately exit their business on their ideal terms.  We have Certified Exit Planners on staff to help with that decision. Here are just some of questions we help answer:

  • How to figure out how much money they need to get out of the business, net of taxes, to ensure their family’s financial independence after exiting the business. 

  • How much their business is worth and/or how to enhance the value of it before the sale. 

  • How to structure a sale or succession while minimizing the amount of taxes they will pay. 

  • How to determine and/or find potential buyers/successors for the business.

  • How to help key employees or family members purchase the business even if they don’t have the financial wherewithal to do so now. 

  • How the sale of the business would affect their overall estate plan, especially if they have children that may take over the business but others that won’t be involved in the business.


We have the experience, contacts and expertise in this field to help fill the void and be a resource to business owners.  We have assembled an experienced group of professionals that all work together to ask the right questions to business owners and to help get the answers they need. 

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