Transition

Prepare your business for the next stage

Do you have a plan for the future? If the plan is to sell your business, do you know what your business will be worth when it comes time to sell? No matter the plan, the Florida SBDC Network can help you make the most of the transition. Ask yourself the following as you consider transitioning your business:

1. Exiting Strategy

  • Are you considering selling your business?
  • Are you considering a business merger?
  • Are you thinking of liquidating your business?
  • Are you considering hiring a manager to take responsibility?
  • Are you divesting or segmenting your business in preparation for sale?
  • Are you filing for bankruptcy?
  • Are you closing your business?

2. Naming Your Price

  • What is your business worth?
  • Is there a valuation formula for your business?
  • What are the legal and tax considerations of selling your business?

3. Selling Your Business

  • Are there buy/sell agreements in place?
  • How does your exit strategy affect your personal estate plan?
  • What are the legal and tax considerations of selling your business?

4. Professional Advisors

  • Who will you consult for the best strategy to sell or close the business?
  • What kinds of advice will you need?

5. Transitioning Your Business

  • How does your business plan support your business transition?