Did you know that 85% of small business owners have never developed an exit plan?
Without an exit plan, a business could quickly be severely damaged by a sudden crisis, such an illness, death, divorce, partnership dispute or rapid change in market or competitive environment. Or a business may deteriorate gradually as the owner burns out and neglects the business, or transfers it to a weak leader. Either way, the result is the same: greatly diminished business value.
By contrast, more sophisticated owners and financiers of businesses, rarely fund or purchase a business without first having a formal exit plan in place. At VR Business Brokers Charlotte, we can help you create an exit plan, so that you will be prepared for when you’re ready to step down as a business owner.
Understanding the Basics
So what is an exit plan? It’s actually a series of continually evolving and interrelated plans that will help you address at least the following critical questions: