0336 - Building an Exit Strategy for your Business
2321213
UGA SBDC Training
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Course Description
Have you started planning for the eventual exit of your business? Planning should begin years in advance. Having a defined strategy can help you build a more valuable company, have stronger personal financial plans and ensure it aligns with your personal goals. This workshop is designed to give business owners a knowledge base, vocabulary and an understanding of the process to create a thorough exit strategy. Whether you plan to transfer ownership to family members, sell your business or close your business, this workshop is designed to build a foundation of understanding for the eventual transfer of a business owners’ biggest asset – their privately held business
Course Outline
Agenda
- Evaluation of the Business
- What is it worth? When to get a Valuation.
- Determining the right exit strategy or buyer for your business
- What is Goodwill and how is it determined?
- 3 Things You Can Do to Build Value In Your Business to get ready for sale
- How to get your business ready for exit
- Professionals to help you build your strategy
- Exit Strategies:
- ESOP
- Market Sale
- Gradual Sale
- Transfer Ownership
- Liquidation, Bankruptcy, Closure
- Getting Ready for Transition
- Preparing your strategy
- How to Prepare Your Business for Transition
- How to Prepare Yourself for Transition
- Getting Employees Ready for new owners
Learner Outcomes
Attendees will gain an understanding of:
- Business Valuation, what is the company worth?
- What is goodwill and how does it affect the sale?
- What are the various ways of exiting the business?
- What does the sales process look like?
- What professionals will I need to help sell my business?
- How do I get my business ready for sale or exit?
Notes
A Public Service and Outreach Unit of the University of Georgia. Funded in part through a Cooperative Agreement with the U.S. Small Business Administration. All programs of the UGA SBDC are open to the public on a non-discriminatory basis. Reasonable accommodations for persons with disabilities will be made if requested at least two weeks in advance.
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Daniel McCoy joined the UGA Small Business Development Center at Kennesaw State University as a Business Consultant in September 2017, after a 21-year successful banking career as a Commercial/SBA Lender and Financial Adviser. Mr. McCoy also spent 10+ years in upper management in the retail industry. In 2014, he formed Business Services North, LLC, a consulting company that assisted with small business Loan packaging and filing back taxes.