Exit/Succession Planning

Helping owners maximize the value of their business and prepare for the future

Many business owners – including owners of a family business – are often underprepared to exit their business and move on to the next chapter of life. It’s common to have unrealistic expectations of the worth of a business. In unfortunate situations, owners start the exit or succession planning process too late to maximize benefits they could have received using a timely, well-crafted strategy and plan.

Exit and succession planning looks different for all business owners. Knowing your options early helps you plan and make the best decisions for your business situation. Transitioning a business to new ownership requires a plan for maximizing the value of the business and minimizing adverse tax consequences. In addition, a sound exit or succession plan includes activities to develop new managers and prepare you for post-sale life, whether that path leads to retirement or a new business venture.

It’s also important to know the differences between exit planning and succession planning:

Exit Planning

  • Owner-centric
  • Part of a strategy for either selling or transferring a business, but based on the owner’s goals
  • Comprehensive analysis of the value of the business, market position and more
  • Addresses issues like whether an owner can leave the business when they want, to whom they want, and for the money they want and need
  • Addresses issues like whether an owner can leave the business when they want, to whom they want, and for the money they want and need.

Succession Planning

  • Business-centric
  • Based on the objective of business continuity
  • Identifies successors with a business
  • Includes skills development for successors
  • Focuses on the transition of leadership or management

Solutions

Business owners can often use some additional assistance when it comes to exit and succession planning. Solution examples include:

  • Business and strategic planning, including transfer options and strategies
  • Business valuations
  • Buy-Sell agreements
  • Consulting and counseling on “next chapter of life” strategies, objectives, and goals
  • Estate and tax planning
  • Financing arrangements
  • Finding sources of capital necessary for a successful business transfer, including M&A advisory and investment banking assistance
  • Negotiation assistance
  • Value enhancement analysis for capturing maximum enterprise

For a discussion of your exit or succession planning situation or needs, please contact Ryan Scheck, Senior Manager, for a complimentary consultation using the fillable “Contact Us” form on this page.

Industries

ABBB provides exit and succession planning services for families and business owners in the following industries:

Testimonials

  • For more than 20 years we have had a strong, stable relationship with Adams, Brown, Beran & Ball. Their knowledgeable team has a strong understanding of our business and have been great partners. They have been instrumental in improving our business and financial operations over the years. We have never considered changing firms and would recommend them to anyone without reservation.

    Walt Hill – High Plains Mental Health Center

  • The prompt, personal service provided by the Adams, Brown, Beran & Ball team is the best benefit in working with this firm. They offer knowledgeable advice and help my business plan for any eventual scenario. Their guidance and support show their commitment to helping our business succeed. I would recommend them to anyone looking for an accounting firm that has the best interest of the business and its success at heart.

    John VonLintel – JROBB, LLC

  • Par Exsalonce has used ABBB for over 10+ years for our payroll needs and have found them to be informative, helpful and accommodating. The salon is quite large and we are constantly adding new employees to the two locations. In addition, they handle insurance, IRA, Aflac and other deductions we throw at them! The entire team is wonderful to deal with – from the receptionist to the accountants that handle our diverse business needs. We could not ask for a more knowledgeable and dependable group of people. Our thanks to them many times over!

    Teri Mills – Par Exsalonce

  • “With Adams, Brown, Beran & Ball, we don’t just get a financial advisor – we get a business partner. Our engagement team does an excellent job serving our needs and continually works with us to develop a plan for long-term success. When we come to them with a question, they go above and beyond to get the answer. Knowing we have that kind of support and dedication from our CPA is important. Our company has been in business a long time, and having a partner like ABBB will help keep us on a successful path for many years to come.”

    Gary Shorman – CEO, Eagle Communications, INC.

  • “I own a small business that has been running for over 40 years. I am proud to say we have been with Adams, Brown, Beran and Ball for many of them! I am very pleased with the service they provide and their commitment to helping me grow my business. When I first began working with ABBB, I received guidance and a set of guidelines to follow that helped me achieve my business goals. I have full confidence that if I am unable to reach my main contact, I will still receive the best service so that I can stay on track. I highly recommend the team at Adams, Brown, Beran and Ball.”

    Dan Woolard – Midway Manufacturing, INC.

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Exit/Succession Planning Team Leader:

Ryan Scheck

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