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:
Exit Strategy & Timeline Creation
Business Restructuring
Buy/Sell Agreements
Due Diligence Consulting
Financing Arrangements
Transaction Structuring
We know your industry:
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?
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.
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.
Buying or Selling a Business: Book Value vs. Fair Market Value
Reading Time: 4 minutes The value of a business is a question on many business owner’s minds. Whether the owner is considering retirement, estate planning, succession planning, reviewing buy/sell agreements or possibly selling, it is important to know what a business may be worth.
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