Every business strategy should include an exit plan for leaving the business. This can hinge on the owner’s personal financial and estate planning efforts, and a successful transition depends on many factors.
Demographics project a mass exodus of Baby Boomers leaving their businesses in the coming years. Many will be trying to sell their life’s investment to a limited number of buyers. Competition for these buyers’ dollars will be fierce. Increasing the value of one’s business will help business owners be poised for this buying frenzy, which is expected to occur once the economy rebounds.