Business ownership transition is a sensitive matter for any business owner. The strategy you choose will not only affect you personally, but also your family, employees and the overall health of your company. When considering such complex situations, you need objective advice from experienced analysts who aren’t emotionally invested in your company.

Often business owners only consider two alternatives to succession – the sale of the business to a third party or the transfer of ownership to the next generation. What if you’re ready to retire but don’t want to sell to someone outside of the company? What if you don’t have a qualified and capable successor in mind? Fortunately, there are other alternatives to consider:

• Management buyout (MBO) – sell portions or all of the company to your management team
• Sell to employees through an ESOP
• A combination of the aforementioned options

In order to ensure successful implementation, business ownership succession must be planned years in advance. If you wait too long, you may limit your choices and have to settle for a solution that is less than perfect. Every option has its own possibilities and limitations in terms of the amount of time it takes to implement, financing options and levels of risk. And every business is unique – the best succession alternative will take all of those factors (and more) into consideration.

The professionals at Prairie Capital Advisors, Inc. will weigh the pros and cons of each alternative and help you determine the best alternative for you based on realistic expectations. We’ll also work with you to help guarantee the continuity of leadership, knowledge and corporate vision so you can retire in peace, assured of your personal financial security and knowing your business is well taken care of.