BUSINESS
CONTINUITY
We empower business owners to grow and preserve their business across multiple generations.
Business owners tend to spend time building their business and are not focused on when they will leave. Preparing an exit strategy maps out the future for your business while protecting what you have built. Park Place Advisory works with you to help create solutions for your future that will allow you to exit on your own terms.
Many business owners have questions such as:
• What is my business worth and how can I maximize value?
• How can I structure a sale to ease into letting go?
• How will I know if the successor or buyer is ready to take the reins?
Our exit planning services provide you with a shift to see what is possible and a framework to tackle difficult decisions.
There can be many professionals involved in the sale of a business and our clients value a quarterback to keep the plan aligned.
EXTERNAL SALE
A clear path for the sale of your company takes time to develop to ensure you receive the best value. The process covers preparation for sale, developing a decision-making matrix, evaluation of buyers, negotiating a strong deal, and creating an effective transition plan.
We help you prepare your business for an external sale and evaluate offers when they come in. This includes steps on how to increase the value of your business.
OUTCOME
Exit strategy plan, pre-sale improvement plan, post sale transition plan, deal and negotiation support. This process may also require financial and estate planning services.
EMERGENCY
TRANSITION
An emergency transition plan prepares the business to transfer upon the sudden death or serious illness/injury of a key person. As part of this plan, we align the appropriate emergency team, verify clear documentation is in order, and plan for the business to continue and retain its value.
We review emergency readiness and key documentation, create a checklist and test the plan with a dry run with up to 5 participants.
OUTCOME
A step-by-step plan covering an emergency transition.
SUCCESSION
A succession plan transitions the business to an internal buyer to secure the future of the business. It identifies development areas for future owners including defining roles and responsibilities needed for a successful transition and creating an effective transition plan.
Confirm development areas and readiness to transition the business. This includes aligning vision and values, creation of a transition plan between owners (management buy-out or family succession).
OUTCOME
A business succession plan, successor development recommendations, a step-by-step transition plan. This process may also require financial and estate planning.
