Business Succession

Are you a business looking to retire in the next five years or less? Are you wanting to transition a family business to the next generation? If so, did you know that it takes two to three years to prepare a business for an ownership transition?

MSCR can assist you with business succession coaching. It will be a confidential process meant to ensure your business will survive with a new owner rather than closing the doors permanently.

MSI has a great 30-minute YouTube video covering the basics of business succession. This is just a starting point to get you thinking about the process. Here is the link: https://www.youtube.com/watch?v=ncgPCJOjnh0
Some good take-aways from the video include:

  • Plan for your exit.Give yourself two to three years preparation to ensure that your business looks and sounds its best to buyers. Once a business is “on the market” it may take six to twelve months to find a buyer.
  • Get your books in order.
  • Think about the “curb appeal” of your business.
  • Determine what you are selling.
  • Know what your business is worth.

Click here for more information to get you thinking about the future. If you are interested in more information, contact MSCR ([email protected]; 712-999-4769).

       
       
       

      City of Coon Rapids
      City of Coon Rapids
      123 3rd Avenue South, Coon Rapids, IA 50058
      Phone: 712-999-7749
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