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SUCCESSION SUPPORT
Succession as a Transition Plan
Transferring the management of your company to a successor can be a very rewarding option for many owners. But this strategy can be high risk if not executed well. A detailed succession plan, with good communication, knowledge transfer and skills development from the senior generation to the next are vital. Transition Architects is here to help!
How We do it:
Transition Architects’ starts its assessment with a review of your financial statements and discussions with the owner regarding the “true” profitability of your business, historical results and potential opportunities or threats to the business. This information is analyzed to provide you with a financial summary of the company’s performance, and an anticipated value range for the business.
Company Value is reviewed with the owner and payment options will be a key component of the deal structuring from the business/seller to the successor.
This analysis can usually be completed for a one-time flat-fee and will provide the owner will critical information to start planning for his/her transition.
“Helping Businesses Thrive Through Succesion”
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Business owners often dream of leaving a legacy for family to continue for them. If done well, this is a very rewarding outcome of decades of grit and hard-work!
Passing control of your company to a family member as your successor is often a good transition option. This strategy must be well-planned, with good communication and structure to ensure the on-going success of the business and adequate compensation to the departing owner.
Ensuring that your successors have the right skills, knowledge and drive to continue as you transition out is key. And often your comfortable retirement depends on it!
Transition Architects will support the creation of a detailed transfer & exit strategy, ensuring your transition is well-structured and managed, to maximum the future success of the business and adequate payment to the departing owner.