As a business owner you have likely come through a challenging last six years.
Covid then high interest rates and tariffs, two major wars and an oil crisis. It is understandable that you may have delayed thinking about your inevitable business exit.
For most owners, the real risk isn’t moving too early, but rather waiting too long.
None of us have a crystal ball and the future tends to favour owners who plan ahead, not those who wait perfectly. Starting sooner doesn’t mean forcing change, it means giving yourself choices while you still have them.
Are There Multiple Exit Options?
There are multiple exit options for a business owner however many owners are not aware of all the options outside of an outright sale or perhaps a merger with another company. The earlier you start planning the more options that you will have available.Business Owner Transition – a different option
One of these other options is a gradual business exit over a timeframe of your choosing – usually 2-4 yrs. This has been pioneered by Platform 1 and developed over time to deliver over 120 transitions.Business Owner Transition is a method of exiting or growing a private business over time, to an external talented person with capital. This person works full-time in the business and buys shares in the business over time and to an agreed plan. A governance process is set up to ensure the transition meets your needs.
Benefits can include :
- More wealth through both capital payments and dividends
- An improved lifestyle as you decrease your day to day involvement in the business
- A wider pool of people willing to do this over time
- Achieve a greater return on your legacy
Not everyone wants to go “cold turkey “and finish tomorrow
If you know you need to exit within the next 5 years now is the time to start.To find out whether this option is right for you and your business you can book a complementary strategy conversation through Platform 1.
Please contact Mike Warmington via the Platform 1 website or book a complimentary 45-Minute Strategy Conversation here »
Article by Platform 1 who specialise in gradual business exits, connecting business owners with talented people who have the capital and expertise to grow your business while preserving your legacy.
