Roosevelt Investments is now CI Roosevelt Private Wealth

RWM – Exit Planning

Roosevelt Investments – Exit Planning

Developing a successful business is an incredible accomplishment that takes years and possibly generations of hard work, persistence, and in many cases, luck. But building the business is not quite enough – you also need a way to extract the wealth you’ve created, or at least ensure it stays in your family.

That’s where an exit plan comes in.

Is Your Exit Plan Ready?

A survey from the Business Enterprise Institute found that many business owners rely heavily on their businesses for income and wealth, but are not necessarily prepared to exit:

Over 74% of business owners rely on their businesses for more than half their personal income

Over 58% of business owners would exit their business if their financial security were assured

Over 81% of business owners want to stop working in their businesses in the next 10 years1

In a perfect world, an owner will exit their business on their own terms—financially secure, ready to retire, with a willing heir or buyer at the ready. But in many cases, exits happen for unexpected reasons: health issues, financial necessity, or death. Forming an exit plan can ensure a smooth transition, no matter what the circumstances.

1 2019 Business Enterprise Institute

Accumulating Assets and Building Wealth

How to Get Started
with Your Exit Plan


Creating an exit plan for a business you’ve spent years growing may seem like a daunting task. But with the right help and expertise, developing a plan may be easier than you think.

It starts with a review of your goals and objectives. We can help you think through and consider the following questions:

  • When do you want to leave the business?
  • Do you know who you want to sell or leave the business to?
  • Would you prefer drawing income from the business after you leave, or do you want to sell it for the maximum amount possible?
  • Have you received an independent and objective appraisal of your business value?
  • How will you invest the proceeds of the sale to meet your financial needs?
  • Have you calculated your income/cash flow needs in retirement? Can your business provide this income for you and your family?

These business-oriented questions need to be considered in tandem with your personal financial plan. CI Roosevelt Private Wealth has CERTIFIED FINANCIAL PLANNER™ professionals and a Certified Exit Planner to help you navigate all the different variables in play.

Our goal: to help you monetize your business so you can reach your long-term goals.

We hope to help you accomplish two things:

1

Create a plan to leave your business and monetize your exit.

2

Create a comprehensive financial plan to ensure financial security after you leave.

The Bottom Line

Over time, your financial situation will almost certainly change, and your business may evolve. But having an exit plan and a financial plan does not mean you’re stuck following a rigid step-by-step process—having a plan makes it easier to evaluate new options, changes, or strategies that happen over time.

Your successor may change their mind, or a new buyer may come along and make a better offer. Your family may decide they want to keep the business going, or they may decide that the legacy of the business should move into new hands. The list goes on, and an exit plan can help you navigate these decisions.

Exiting a business means transferring wealth, which almost always means significant implications for the owner, the owner’s family, and the business itself. That’s why it is important not to delay making an exit plan.

Your successor may change their mind, or a new buyer may come along and make a better offer. Your family may decide they want to keep the business going, or they may decide that the legacy of the business should move into new hands. The list goes on, and an exit plan can help you navigate these decisions.

Exiting a business means transferring wealth, which almost always means significant implications for the owner, the owner’s family, and the business itself. That’s why it is important not to delay making an exit plan.

The Best Time to Start Is Now, and CI Roosevelt Private Wealth Can Help.

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