Making Your Business Valuable During COVID-19: Pivoting a Service to a Product
Service companies are disproportionately impacted by the economic disruption caused by the COVID-19 pandemic. While consumers are cutting…
Read Full ArticleEnsure personal and financial readiness for the next stage of life — whatever, and wherever, that may be.
Every business owner has a unique need for business transition planning. The Anders group of Certified Exit Planning Advisors (CEPAs) focuses on value growth and aligning your business, personal and financial goals. We’ll educate you on all succession planning opportunities, oversee the selected strategy’s development and implementation and act as the “quarterback” on your transition team.
No matter the size of your business or your unique business transition planning needs, our specialists focus on the following industries and serve others as well:
An electrical subcontractor had planned on finishing contracted jobs and closing the doors. Walking away with the unintended consequence of disrupting employees’ lives seemed to be the only option. The Anders Business Transition Planning team stepped in and first looked into streamlining internal processes to help increase the value of the business. After building the company’s value, we then helped identify other subcontractors looking to get into the local market and evaluated potential offers. Once the owners chose the right fit, we performed a review of the allocation of purchase price, non-compete agreement, earn out terms and the related tax implications to negotiate a purchase and earnout of $400,000.
Our client, a sole practitioner veterinarian, was in the final stages of selling his business when the Anders Business Transition Planning team came in to review the asset purchase agreement. Upon reviewing, we found tax opportunities to benefit the seller and worked with the buyer on the non-competition agreement, asset valuation, inventory estimation and holdback amounts. By helping restructure the sale, we were able to save the client $180,000 in state tax liability.
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