HBLLP Logo Client login link HBLLP Home page link Make a payment link
* *
 
 
 
Exit Planning For Business Owners
 
 
 
 
 
 

We help define your exit strategy to meet your goals both personally and financially.

If you’ve thought about leaving your business but don’t know where to begin, you are not alone. Leaving your company is a process. A well designed and implemented exit plan takes at least three years to formulate. Now is the time to put plans in place to prepare you and your family for one of the biggest financial events of your life.

With over half of today’s 9.5 million owners of established businesses reaching the retirement age of 50 years old or older, it is more than likely that many of you will be ready to leave your business within the next decade. It’s never too early to prepare an exit strategy but it can be too late. Call our experienced team and start planning for your future.

 
 
 
 
 
 
 
 
 
 
" "

 

Reap the rewards of your hard work

If you are planning on selling your business, you need to plan now to get the maximum return. Your business should also be able to stand on its own and thrive without you so the next owner can continue to grow and profit from your hard work. If you take time to plan your exit now, you will ensure a smooth transition and increase your chances of financial success.

So what are you waiting for?

If you’re already taking action to leave your business, ask yourself if you are approaching your exit in a methodical, logical, rational manner. Most owners do not undertake the necessary thought and planning that underpins good ownership transitions because they don’t know how to begin or exactly what to consider and analyze.

The good news is that there is a planning and implementation process that can provide that underpinning. This Exit Planning process begins with understanding your exit objectives and financial goals. Only then can a proper exit path be designed for you, whether as a sale to a third party, a transfer to children, a sale to an ESOP, a sale to a co-owner, or an orderly liquidation.

The process also requires you to consider what would happening the event of your death or if disability precedes your planned exit.

Simply knowing the process, however, is not enough. To succeed, you need a written plan that sets out your exit objectives and documents how you are going to achieve those objectives. In addition, a checklist that assigns responsibility for each task to be completed, sets a date for the task to be completed, and designates the person responsible for completing that task is extremely useful

" " Pencil erasing a maze
 

Questions to ask:

  • Do you know your primary planning objectives for leaving the business, such as departure date? Income needed to achieve financial goals? To whom you want to leave the business?
  • Do you know how much your business is worth today?
  • Do you know the best way to increase the value of your ownership interest?
  • Do you know how to sell or transfer your business so that you maximize your cash, minimize your taxes, and reduce your risk?
  • Do you have a continuity plan for your business if the unexpected happens to you?
  • Do you have a plan to help secure finances for your family if the unexpected happens to you?
   
Subscribe Now Subscribe to our newsletter
Want more information and regular updates?
Subscribe to Tanya Lee Scott's The Exit Planning Review™. The Exit Planning Review is an opt-in, bi-monthly newsletter.
 
     
 
 
 
 
 
 
 
 

YOUR EXIT PLANNING TEAM

white spacer
Tanya Scott, Partner
Tanya Scott, Partner
San Diego, CA
Profile
Email
Gerard Mekhsian, Partner Partner bio
Gerard Mekhsian, Partner
Glendale, CA
Profile
Email
Steve Throop, Partner Partner bio
Steve Throop, Partner
San Diego, CA
Profile
Email
Partner bio
" "
 
 
 
 
 
 
 
Megaphone  

GET NEWS DELIVERED TO YOUR INBOX

Stay current on tax and accounting issues, business
strategies, technology and general business information.

Sign up for our newsletter and
receive regular emails from us!

  Register Newsletter Form Registration
 
 
 
 
  grey spacer    
 
         
Social media icons Email Us HBLLP's LinkedIn page Link to Instagram HBLLP's Facebook page Contact Us Office Locations
  " "      
       
       
       
Glendale, CA
550 North Brand Blvd.
14th Floor
Glendale, CA 91203
Phone (818) 637-5000

blue spacer
El Centro, CA
3205 South Dogwood Ave.
El Centro, CA 92243
Phone (760) 352-1021

blue spacer
San Diego, CA
7676 Hazard Center Dr.,
Suite 1150
San Diego, CA 92108
Phone (619) 849-6500

blue spacer
Watsonville, CA
579 Auto Center Drive
Watsonville, CA 95076
Phone (831) 724-2441

blue spacer
The Consulting Group
550 North Brand Blvd.
14th Floor
Glendale, CA 91203
Phone (818) 637-5000

       
       

Hutchinson and Bloodgood LLP is an affiliate of PKF International and Allinial Global, associations of legally independent accounting and consulting firms who share education, marketing resources, and technical knowledge in a wide range of industries. We are independent accounting firms coming together to support the success of independent client companies.


@ 2019 Hutchinson and Bloodgood LLP