Only 22% of Business Owners Have a Succession Plan
What is Yours? Let EXIT STRATEGY PLANNERS guide you.
Exit Strategy Planners are experts at creating a plan to help you exit your business, your way. When selling your business, owners need to make sure the business continues to run at optimum levels. This means working in the Business 75% of the time. The other 25% of your time should be working strategically on your Business. When you’re seriously considering selling your business, you must commit to a plan and work with a professional team who can implement a Structured Sales Process.
The #2 reason business transitions fail is business owners can’t let go. You’ve worked hard and built your Business. One way or another, you will exit the Business. Whether it’s a family member, employee group, large corporation, or a unsolicited offer - you will have a difficult time transitioning your Business without knowing its worth. Completing a valuation with a licensed professional will result in a realistic idea about price expectations. Negotiations will be less stressful for both sides. This will also help you understand your risks and how to modify your plan if needed. Most certified business appraisers quote a project fee or an hourly rate, with outside expenses billed separately. Depending on the scope of the valuation, a valuation can cost anywhere from $5,000 to over $20,000.
According to the SBA, the #1 reason most business transitions fail is due to a lack of planning. A successful transition can take 1-5 years to execute. On average only 25% of businesses sell. There’s a tidal wave of competition coming as the baby boom generation business owners continue to retire. The business owners who are most successful are going to be those that planned ahead! Having a plan and executing it increases the chances the people you care about (employees, customers, partners/investors, family) will be taken care of. Having a vision after you exit will help you avoid procrastinating on developing your plan.
How We Help You:
- We help you determine weaknesses and point you to the advisors who will help improve them.
- We help you determine what your business will sell for in today's marketplace.
- We help you pinpoint growth possibilities in the future.
- We help access who is the ideal acquirer.
- We help you determine when is the best time to transition guided by your initiative's.
- We help you implement a definitive EXIT plan
- We cause you to take action to make financial and management adjustments.
- We help you plan what’s best for you, your family, and your employees
- We help you sell your business for the most profit
Tom Kaul, President and Councilman of Exit Strategy Planners
Tom Kaul is the President/Councilman of Exit Strategy Planners. ESP is a collaborative organization dedicated to counseling both buyers and sellers, causing transformation by effective transactions of middle market merger and acquisition advisory services.
Tom has over 40 years of experience in business transitions, sales, marketing, and entrepreneurship. He provides Mergers & Acquisition Advisory Services to private business owners. Tom is a successful Business Broker, Exit Planning Consultant, and Entrepreneur. To date, he has launched and managed three of his own successful companies and been and advisor in over 100 private company transitions.
Tom received a Bachelor’s degree in Business Administration from St. Cloud State University. He creates strategic presentations at the University of St. Thomas Schulze School of Entrepreneurship and is a trusted advisor for their Family Business Center.
In his free time, Tom enjoys spending time with his wife Helen and their 6 children and grandchildren, antique autos and boats, rowing, gardening, downhill and cross country skiing, bible study, as well as helping people in recovery.
Thomas Kaul | President/Councilman
Exit Strategy Planners
Causing Sustainable Business Transitions and Transactions!
215 Walker Avenue South | Wayzata, MN 55391
Direct Office: 952-405-2871 | Cell: 952-688-2280