Succession Planning

Planning is at the center of effective business management.

Create a strategy. Secure your future.

Planning for your exit is often one of the hardest things a business owner must do. Contemplating the business you built or help to develop without you is complex, difficult and emotionally challenging. Key issues such as leadership selection, personal financial concerns, the impact succession will have on the business and preparing a detailed strategy are challenging parts of the process. However, when succession planning is executed properly, it allows for the orderly transition of management while protecting the exiting owner professionally, emotionally and financially.

To help business owners through the process, Smith Schafer offers succession planning services designed to help Minnesota businesses create and execute a successful transition strategy. Whether you need help creating a succession plan or assistance with implementing various stages of the plan, our professionals can guide you.

Succession Planning Services:

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Exit Strategy & Timeline Creation

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Business Restructuring

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Buy/Sell Agreements

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Due Diligence Consulting

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Financing Arrangements

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Transaction Structuring

Contact us today to learn how we can help you and your company or organization prepare for the next chapter personally, professionally and financially.

Succession Planning Resources

What is my Manufacturing Company Worth?

What is my Manufacturing Company Worth?

Reading Time: 3 minutes Do you understand what your manufacturing company is worth? Whether you are reaching retirement or have received an offer to sell, it is crucial to understand what value means for a business.

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Understanding the Build-Up Method

Understanding the Build-Up Method

Reading Time: 2 minutes When valuing a business, experts use various valuation methods, such as Discounted Cash Flows (DCF) analysis, comparable company analysis, market value, and asset-based methods. When using DCF method, one way to select an appropriate discount rate for the business is to use the built-up method.

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Why Clients Choose Us

Have enjoyed good service for over 30 years.

 - R & W Fleming Corporation

Our service is always exceptional and never have to second guess the answers.

 - EnergyPrint, Inc.

Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years.

The relationship we have built over the years with the staff at Smith Schafer & Associates is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!

I have worked with Jason Boynton for several years. He has consistently provided exceptional service and advice always delivered in a timely, pleasant manner.

Smith Schafer always makes everything go smoothly. They were recommended to us by our community bank. We have been using their services for many years for our small business and personal taxes. We always feel well taken care of and that we are receiving the best advice, direction, information and tax preparation."

- The Dog Perk Corporation

Smith Schafer always provides great information for our business. They are thorough with our accounting and financial planning. We have leaned heavily on them with interpretation of the PPP Loan and COVID-19 planning. They have been instrumental in our success and are always very knowledgeable and quick to respond to any of our questions."

Smith Schafer has provided second to none service and value to my business and personal accounts for over 30 years. Their expertise and knowledge are unmatched by any other accounting firm I have encountered over all these years."

The relationship we have built over the years with the staff at Smith Schafer is one that can never be replaced. They are quick with helping us figure anything out, always willing to pick up the phone and walk us through any problem we are having. Also they are just all so friendly and kind!"

We love our CPA team at Smith Schafer. They have helped us navigate many personal and business decisions."

Smith Schafer is very dedicated to their clients and always has their best interests in mind. They are very knowledgeable and thinking ahead to what the clients may be needing in the future. We would highly recommend Smith Schafer to our family and friends."