Exit Options2023-09-28T03:31:01-07:00

Exit Options

Exit Options
Exit Options

Create your legacy.

Whether you want to understand your exit options, or you are ready to sell, the Destined team will lead the way to achieving your legacy.

Knowing your exit options is important for creating your legacy.

Selling your business is not only a financial decision – in order to create a legacy you can be proud of – you will also want to consider a variety of other factors as part of your exit options. Destined’s detailed process leads you through the process of identifying your goals, evaluating exit options and weighing the pros and cons of each option.

Your Goals

There are as many reasons you may be considering exiting your business. Destined works with you to clearly define your goals – even right them down and review them with family or close friends to get their feedback.

Typically, our clients are considering selling all or part of their business because:

  • Ready to retire to spend more time on personal interests
  • Been approached by a potential buyer
  • Feeling burned out and need a break
  • Want to focus on another business
  • Family or key managers want to take over the business

Your Exit Options

Like choosing a flavor at your favorite ice cream shop, exit options span a wide range of alternatives. Many of these options include a sale to a third party but many internal transfer options are available as well such as family members or key employees.

If you want an external sale your choices include:

  • Large regional, national or international companies in your industry
  • Local competitors
  • Companies that have similar customers or suppliers but don’t compete directly with you
  • Private equity firms – those that already own a business like yours and firms that want to make investments in your industry
  • Owner/operators are individuals or small teams that have the financial means to buy and operate a business

Pros and Cons

When considering each of the exit options, we overlay your goals then explore other factors. Going into the sale process with your eyes wide open by delving into each of these components is critical to ensuring you create the legacy you desire.

Important aspects to consider include:

  • Do you want to leave the business shortly after a sale or stay with the business to continue its next phase of growth
  • Should you cash out completely or keep an investment in the company that will continue to grow
  • Would you prefer to maintain control of the company
  • Can the buyer pay you over time or do you need maximum cash up front
  • What will happen to your company name and brand
  • Will all of your people be retained
  • How will your customers and suppliers feel about the sale, will they see it as a positive, negative or neutral event
  • And, many more…

“Destined preserved our family legacy by showing us we didn’t need to sell to a third party. Dad and grandad built this company and now it will continue in the family for more generations.”

CEO & Owner, Third Generation Manufacturing Company

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