Looking to retire?

​Discover how we sped up one clients retirement plan from 3 years to 12 months!
Meet Rob and Donna, they’ve been in business for over 20 years, and for the past 15 years they have been lucky enough to have their 2 sons working alongside them in their family-owned business.

When we first met in July 2020, they both explained how they were now ready to retire and are looking to sell the business to their sons, but had no idea as to where and how they should start?
What does this husband and wife team need to do to get them 1 step closer to retiring in the near future?

​By starting on our ongoing business management program they were able to give us great insight into their business world. This allowed us to identify the first steps needed to achieve their retirement goals with the right questions:

• where is the business at today
• what are the numbers
• is the business profitable
• what is it worth
• what role do they play within the business
• why do they want to exit

​Once these questions were answered we were able to dig deeper into the business structure and gain a better perspective of how the business looks without Rob and Donna.

The biggest challenge business owners face is they have spent more time working IN the business rather than ON the business. When Preparing for Exit, it’s always a question of:
“What does my business look like without me”

This led us to then focus on their 2 sons, raising questions such as:

• What are their roles
• Can they afford to purchase the business
• How will the transaction occur (payment plan, lump sum, etc.)
• Without mum and dad who will take on their roles
• What are their legal obligations becoming a director

Our role in their Exit Strategy and helping them to financially understand their business has allowed them to identify that their sons do have the knowledge and skills to take over the family run business, quicker than they first envisioned.

They came to us with the plan to transition out of the business in 3 years and we were able to fast track their transition from a 3-year timeframe to 12 months!

Although Rob and Donna are now able to retire earlier than forecast, this is not always the case for many business owners.

Planning for a successful Exit is key! This may take longer than anticipated but we are here every step of the way to help you.
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If you’re thinking of retiring and want to know where your business is at, let’s have a chat!