October 3, 2023
By: Jeremy Weitz and Tanya Viner
DETERMINE YOUR IDEAL SALE DATE
“Often, entrepreneurs don’t want to sell until they are ready to retire. Ideally the decision to sell should be made two to five years prior to your desired retirement date. This is because most buyers will require you and your key employees to remain with the business for several years in order to facilitate the transition of the business’ key employees, suppliers, and customers. If you feel that you want to retire or move on to other things within the next several years, explore selling your business sooner rather than later. We recommend that you think about your exit plan from the start for tax-planning purposes.”
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