Exit planning is all about timing. There are several actions you can take to maximise the value of your business, facilitate a smooth transaction and ensure its ongoing success.
A business primed for sale can be worth considerably more than one where the owners have neglected to plan ahead.
If you are expecting your business to fund a new business venture, or your retirement, consider that it takes on average more than three years to prepare a business for sale, or to reach a position where your day-to-day involvement can be substantially reduced.
There are generally seven stages of business succession: