by Ken Brown, International Bestselling Author, Business Coach and Retired McDonald’s Franchisee
Having an exit strategy can give a business owner both control and freedom over their business and future. There are six ways to exit your business, the first two have proven to be highly effective and the most practical.
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- Sell the business on the open market: This is the most popular exit strategy for a small business. When ready to sell and or retire the business is put up for sale and the owner walks away with the proceeds from the sale.
- Liquidation: In order to employ this strategy, you must have valuable assets to sell such as land and or equipment. This is was the strategy that I used to sell both my franchise rights and all of the equipment that it took to operate the business.
- Sell to employee or staff member.
- Close business and sell all assets.
- Pass business on to Children or family member.
- Go Public.IPO–undergo an Initial public offering.
For more information contact Ken at firstname.lastname@example.org.