Nov 13, 2013

An Antique Shop Owner’s Exit Strategy Takes Time and Preparation

If the Grim Reaper had to earn a living like the rest of us, he’d probably become an auctioneer. He would trade his hood for a snappy-looking hat and his scythe for a gavel. He would preside over the demise of businesses, and as each asset passed the block his gavel would sound like thunder as he proclaimed “Sold!” in a voice that echoed with finality. The business owners would look on helplessly, stunned by the speed at which their life’s work evaporated.

Some businesses will be out of reach of the Reaper. According to a 2008 White House Advisors Survey, about 12 percent of all closely-held business owners have a written plan to sell their business intact and continue operations. Those business owners will cash out in style, selling at the right time to the right buyer for the right price. The remaining businesses will be sold piecemeal and shut down. Read More

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