The Baby Boom Generation consists of the greatest number of entrepreneurs in our country’s history. According to recent studies conducted by the Exit Planning Institute; 66% of the current American business market is owned by Baby Boomers of which 75% will seek to exit within the next ten years.
For those business owners who seek to sell, only 20%-30% actually do sell, leaving approximately 70%-80% without solid options to harvest their wealth and ensure economic continuity into the next generation.
- An owner who is “ready” with an attractive business greatly increases the odds that the business will survive a transition. The question is, how ready are you?
- Generation X who are your potential buyers were born between 1965-1979 and is a considerably smaller demographic. This is what I mean when I say, beat the Boomer Bust! There are going to be lots of sellers but fewer buyers.
The Solution? Get Prepared.
- Exit Planning answers all the business, personal, financial, legal and tax questions involved in transitioning a privately owned business. (Whether you want to exit now or 10 years from now.)
- It includes contingencies for death, disability, divorce, distress, and disagreement.
- Its purpose is to maximize the value of the business at the time of exit, minimize taxes, and ensure the owner is able to accomplish all his or her personal and financial goals in the process.
I can help you consider how “ready” you are to transition and discuss options to helping you become better prepared. My initial consultation is free and comes with no obligations or strings attached.
