Succession Planning

The more time allotted to implement a plan, the more time a business owner has to increase the value of the business

A succession plan helps ensure a smooth transition of the ownership of a business. Yet developing a plan can be a complex and sometimes sensitive process. The more time allotted to develop and implement a succession plan, the more time a business owner has to improve underperforming areas and increase the value of the business.

Our succession planning service helps clients establish, implement, and execute a plan, while also positioning the business for growth. Even if the intent is not to sell the business, the goal of a succession plan is to increase the business’ liquidity and marketability.

After all, a business often represents the largest component of an individual’s net worth. In fact we have found that for 80 percent of our clients 40 to 60 percent of their net worth derives from their business.

A sound succession plan can help the next owner, whether a family or non-family member, overcome the low survival statistics for second-generation, closely-held businesses. 

Succession Planning is a component of our BRISE Planning Model.