CEO for Life

Survey of Business Owners and Their Exit Plans

A short while ago, we asked a number of business owners about their plans to exit their business when the right time arrived.

Below are attached the actual results in PDF/Excel Format.  But to make it easier for you, I have provided the highlights below.

•    Majority of respondents expect to exit their business in less than 10 years
•    When the right time comes, most want to be able to sell their business to a third party
•    Financial security, time to travel and pursue leisure activities, and gaining more independence from the business would motivate owners to consider planning for retirement.

These answers are probably not surprising given the aging boomer demographic.  But, what is interesting is that some owners are considering other alternatives to selling their business to a third party such as:

•    Management buyout
•    Employee share ownership, and
•    Hiring a professional manager which will allow them to transition into the next stage of their life by reinventing rather than retiring.

Over the next few months, we will be offering, as part of a team of experts (financial, legal, operational process), public sessions to help business owners plan for the next stage of their life. 

Stay tuned.

 

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