Todd and Janice were ready to sell their long standing family business to the next generation. There were many people involved - parents, kids, spouses etc. They formed a succession planning team to help factor in health issues, contingency plans, and to fully understand the long term financial implications to them and to the new owners. The team of their CPA, attorney and Financial Planner helped Todd and Janice create a structure where the family's financial and emotional needs were aligned as the business transitioned to the new owners.
Are you ready to sell your business? For many people, your business is like your baby - and it's hard to part with it! In this episode Mary Sterk discusses critical components of a business sale - from determining the value to structuring the sale to managing family dynamics after the deal is done.