Strategies for Exiting Your Business

Abstract

This article explains the many considerations and questions to answer when making an exit plan.

For many business owners, strategies for operations are well thought out, whereas strategies for exit are not. Exiting a business does not need to occur due to a challenge or disaster. It is possible to plan and exit for the purposes of business growth, retirement, mergers and more. An exit affects the business owner, as it means that they are no longer involved in running or operations of the organization. The aim of this chapter is to identify common exit strategies and understand how they are of benefit to both the business owner or manager and the individual taking over the business. Secondary qualitative research is the research method used, with analysis of strategies and structures used across countries. These findings include differentiation between exit strategies with an understanding of their impact or influence on the business. These include the process of creating and exit strategy and the benefits for having one in place. The expectations of the investor and how they are to be paid back are taken into consideration. The chapter concludes with a solution for any business owner, including how to work with a qualified team to create a logical, well thought out exit plan.

Keywords:
Exit Strategies; Business Owner; Investor; Next Generation Entrepreneurs; Succession.

Source: Jeffrey M. Shepard, https://www.intechopen.com/chapters/77041
This work is licensed under a Creative Commons Attribution 3.0 License.