How to succeed in business succession

Selling your business to fund your future plans

You may wish to retire, or simply try something new – eventually, every business owner comes to this crossroads. It’s an exciting time to reflect on what you’ve built, on what’s next and to build a plan.

Creating a business succession plan is often the last thing on an owners’ mind, as operating a successful company commands a lot of time and attention. Yet planning for succession in advance is imperative to maximizing your business’s eventual sale price, protecting the legacy of what you’ve built, transitioning your business smoothly and funding your future plans.

Fortunately, expert advice and a comprehensive plan can guide you through the complexities of transitioning your business, and help you answer the deciding questions:

• How much is my company worth? Will it be enough to fund my future plans?
• Should I sell my business to a third party, keep it in the family, or structure a management buyout?
• When is the right time to sell?
• How can I make my business more attractive to buyers?
• What are some strategies to minimize taxes when it’s time to sell?
• How do I create a diversified, tax-efficient retirement income with the sale proceeds?

Jeff Boomer has spent over 20 years buying companies, analyzing investments and advising clients in these critical moments. He managed the Mergers and Acquisition process and reviewed hundreds of companies, ultimately acquiring over 20 of them during his tenure with the Jim Pattison Group. The former CFO of the Vancouver Whitecaps FC and a previous New York investment banker, Jeff has the breadth of experience to manage all facets of your business succession plan.

With Jeff’s guidance, you can take comfort knowing you’re receiving expert advice and attention for the biggest business decision you’ll ever make.