Succession and retirement
Retiring business owner: your options
A retiring business owner usually has five options: sell outright, sell in stages, pass the business to family, sell to a key employee, or close it. Selling in stages or to an operator who keeps the business lets you step back without walking away from the people who depend on it. Here is each option in plain terms.
The five options
Each one trades money, time and control differently.
Sell outright
A clean break. Works best when books and lease are in good order.
Sell in stages
Sell part now and the rest later, with an earn-out or staged buyout. Lets you step back gradually.
Pass to family
Keeps it in the family when there is a willing and able successor.
Sell to a key employee
Rewards someone who knows the business. Usually needs seller financing.
Close
Sometimes right, but it usually leaves value, staff and customers behind.
Retiring without leaving entirely
Many owners want out of billing, payroll and insurance, not out of the work they love. We can take over the back office and keep you on in the role you choose.
Questions owners ask
What is the best exit strategy for a retiring business owner?
It depends on your timeline, who could take over, and how much you want to stay involved. Selling in stages is often the most flexible.
Can I retire and still work in my business?
Yes. After a sale you can stay on in a smaller role, such as coaching, if the buyer agrees. We are open to it.
Should I close my business instead of selling?
Talk to a buyer first. A business with steady customers and staff is often worth more sold than closed.
How early should a retiring owner plan?
Ideally years ahead, but a conversation is useful at any point.
Book a confidential conversation
The first conversation costs nothing and stays between us. You set the timeline.
TODO: Google Calendar booking link not supplied yet.
Get in touch