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Selling a Business

Is It Time to Sell Your Business?

Business owners across the U.S. are seeing competition for deals driven by attractive interest rates, the potential for higher taxes ahead, and an economy that has roared back after the initial effects of COVID-19. If you think the time is right to sell your business, don’t go it alone. Savant’s team of financial advisors and tax and legal consultants can help you plan for life after the sale, and work with you to maximize profit while minimizing any tax losses so you’re financially prepared for your next chapter.

Selling a Business
SellingBusinessSpotlight

Selling a Business Can Be Complicated

That’s what Debbie found out when she decided to sell her consulting firm to fund her retirement. Debbie thought she might one day be able to sell her business to one of her employees, but without a succession plan already in place or much interest from her team in buying the firm, she was stuck on what to do next. In this hypothetical case study, we examine some of the concerns Debbie faced and how she made the decision to take control of her situation.

Read Debbie's Story

When It’s Time to Sell, We Can Make the Process Easier

With Savant’s Wise Counsel by your side, selling your business just got more manageable. Our team can help you plan for a sale by considering market conditions, determining the most tax-efficient valuation of your business, conducting due diligence, and ultimately evaluating the offers you receive. Then, we’ll work with you to determine a financial strategy to support you and your family as you pursue your future goals. Here’s what you can expect from the experience:

Before
After

Feelings of uncertainty; overwhelmed

Feelings of organization from having a plan

You don’t know what you don’t know

A greater understanding of the mergers and acquisition process and a sense of direction

No prioritized list of goals for the sale

A prioritized list and a plan for how to achieve them

Fear of a large tax bill

Increased likelihood of confidence derived from understanding the details of the deal

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When Is the Right Time to Sell Your Business?

Succession planning can be a real thorn in the side of business owners. Should you sell to your partners or employees, an outside buyer, or simply wind down your business when you decide you’ve had enough? Each situation is different, but business owners do face some common factors when determining whether to sell.
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Selling a Business

When “Debbie” first started her consulting business, she worked alone in the basement of her home, using an old desk that had been her father’s. But it wasn’t long before she had one employee, and then 10 employees. The firm moved from Debbie’s home to an office downtown. Debbie, who was single, traveled frequently to see clients and continued to land new business for the firm while her employees managed payroll and human resources, IT, and marketing.
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