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Business Transition: Stepping Back, Stepping Out, or Something In-Between
April 28, 2020 @ 3:15 pm - 5:30 pm EDT
There are a lot of “What Ifs” when it comes to transitioning out of your business. Ensuring a smooth transition that is most beneficial to yourself, your family, and other vested parties requires forethought into your options as an owner and planning that accounts for the potential obstacles ahead.
On April 28th, Boulay and KeyStone Search cooperate to provide expert guidance in assessing the advantages and disadvantages of the various possibilities for transitioning from your business.
Details
Tuesday, April 28 2020
3:15 – 3:30: Check-In
3:30 – 4:30: Presentation
4:30 – 5:30: Happy Hour & Appetizers
Boulay
7500 Flying Cloud Dr. #800
Eden Prairie, MN 55344
Cost: Complimentary
The Pros and Cons of Common Business Sale Options
Selling a business isn’t simple, but it pays to know what options are available to you and if they are the right fit. Boulay’s Dan Markowitz will describe the following common methods for selling your business and further discuss what advantages and disadvantages each offer to the selling owner, shareholders, and to the future of the company:
- Strategic Buyer
- Private Equity
- Employee Stock Ownership Plan (ESOP)
- Management Buyout
Retiring Without Selling
Selling a business outright is not always the most appropriate or appealing option for a business owner; He/She may want to step away from the day to day, but retain ownership. Mike Frommelt, CEO of KeyStone Search, explains how to make this happen by creating a structure and leadership team that not only maintains the business, but actually grows it while the owner retires or semi-retires.
Mike’s presentation will cover the following:
- Creating a structure for successfully stepping back
- Evaluating the current team for successors
- What to look for in leaders who can actually grow the company