An area all small business owners should be considering is the exit or sale of their business. More often than not, this crucial area is left to the last minute and this limits the potential value that has taken decades to build.
This can also apply to Doctors and Dentists. Many of our clients think that their business has little goodwill value but a good business exit or succession plan is not just about money.
Money is nice (if you can get it), but what about the ongoing care of patients, years of patient files, your staff or team members? A well planned business exit can work to create Goodwill in both a monetary and non-monetary form that can benefit more than just the owner.
We at Bongiorno, like many of our clients specialise, so to assist our clients in the area of succession planning we have found a specialist to assist. This company is called Business Exit Companion (www.exitcompanion.com.au)
If over the next 5-8 years you are considering a change in your business, you should speak to us to discuss the options to maximise the value of your business and to consider all of the alternatives.