In this Episode of the Secure Your Retirement Podcast, Radon and Murs discuss when a business owner should start planning to exit with Van, a Raleigh-based business broker who helps owners across the Carolinas and Virginia sell and transition their companies. For many owners the business is the largest piece of their retirement, and selling it well starts years before a buyer ever sees the books.

Listen in to learn about the steps that get a business ready to sell, what the process looks like once it goes to market, and how taxes and deal structure shape what an owner keeps after the sale.

In this episode, find out:

• Why Van says exit planning starts the day you buy or start your business
• The two kinds of readiness, business and owner, and why you need both for the best result
• What buyers look for, including three years of clean financials and a valuation based on comparable sales
• How a sale unfolds, from the Confidential Information Memorandum to closing, and why it takes months
• Why the sale price isn't what you keep, and the two-to-three-year minimum runway Van recommends

Tweetable quotes:

"From the moment that you buy a business or start a business, you should prepare for the future to exit that business." Van [last name to confirm]

"It's taken you 10, 20, 30 years to wind up your business...it will be difficult to unwind it or transition it in 30 days." Van [last name to confirm]

Resources:

If you are in or nearing retirement and you want to gain clarity on what questions you should be asking, learn what the biggest retirement myths are, and identify what you can do to achieve peace of mind for your retirement, get started today by requesting our complimentary phone conversation with Secure Your Retirement!