Are You Preparing to Sell Your Business?

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Selling a business is one of the most significant transitions a business owner can face. Unfortunately, many approach this milestone without the strategic planning needed to achieve their desired terms and outcomes.  This can present significant risks such as:

  • 75% of business owners report “profound regret” just one year after selling their business
  • 50% of exits are involuntary due to the five Ds (divorce, death, disagreement, disability, distress)
  • Of the businesses that plan their exit, less than 10% achieve desired terms and prices

To help avoid these potential pitfalls, here are some essential tips to help you prepare effectively for the sale of your business:

  • Define Your Objectives: Clarify your goals and vision for the sale.
  • Plan Early: Begin preparing your business in advance to ensure it is market-ready and highly valuable.
  • Envision Life After the Sale: Develop a transition plan for your personal life that reflects your future career and personal goals.
  • Build the Right Team: Engage qualified professionals— such as CPAs, attorneys, financial advisors, and investment bankers—to guide every aspect of the sale.
  • Develop the Right Strategies: Work with your personal financial team to minimize taxes and develop a post-sale wealth management plan and personal life plan.

Often business owners face this challenge alone rather than working with a guide to walk them through the process.  If you’re considering a business sale or transition and don’t have a financial team in place, we can help. Our Exit Planning Optimization® framework aligns your business, financial, and personal goals so you can exit on your terms with clarity and confidence. Our process helps you:

  • Maximize business value and after-tax proceeds
  • Align wealth with your purpose and legacy
  • Design a fulfilling life beyond the transaction

For more information or if you would like to discuss your unique situation, please contact Luke Brooks at lbrooks@bmsswesson.com or call BMSS Wealth Solutions at (205) 982-5555.

About BMSS

BMSS Advisors & CPAs was established in 1991 with the vision of creating a CPA firm that would provide peace of mind for its clients while sustaining a healthy, happy culture for its employees. As this dream has been realized, BMSS has grown to become one of the Southeast’s top advisory and accounting firms, now with eight offices throughout Alabama and Mississippi.

The CPA firm specializes in several industries, including (but not limited to) manufacturing, wholesale distribution, construction, technology, nonprofit, and government contracting. In addition to tax planning, compliance and assurance services, the firm boasts a robust business advisory practice area which includes transaction advisory, valuation, client accounting solutions, and CFO advisory services. BMSS also specializes in state and local tax, estate planning and employee benefit plan audits.

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