The buyers and the sellers couldn’t agree on how much the company was worth. A business is essentially an asset, but assigning a value to this type of asset tends to be very complex. If your retirement plan (and maybe your estate plan for your heirs) relies upon the business,…
The 1974 ESOP law and later amendments were designed to encourage employee ownership. Company founders who initially sell just part of their stake and stay on as CEO say the best news comes after the deal: employees start to act more like owners. Ideas formerly kept quiet start to bubble…
For business owners that have also established their business as a corporation (not an option for partnerships), an Employee Stock Ownership Plan (or ESOP) may provide a better retirement option. How you go about selling your business is completely up to you. And for most, that moment is bittersweet. Bitter…
While your goal might be to attract the most qualified buyer that will pay the asking price and lead the company on a path of continued success, it is what you expect of your life post-sale that should constitute how you execute the deal. Done right, a business succession or…
An estimated 70% of businesses don’t have a family member capable or willing to assume responsibility. What are you doing to plan for the sale? A certain reality will eventually set in when it comes to the future of your business. And that reality is that some day you…