Business owners Sam and Rachel were great at manufacturing products but struggled when attempting to construct a viable succession plan for their business. After decades of running the business together, they wanted to explore how to best pass along ownership of the business. They considered several options for the future of their business: Having their children take over, establishing an ESOP (Employee Stock Ownership Plan) and selling to an outside party. After lengthy family discussions, they determined that selling to an outside party would be the best for the business since their children were not interested in following in their parent’s footsteps. This strategy also ensured that their loyal customers would be taken care of appropriately while creating the liquidity that they had always hoped to extract from their business. Now Sam and Rachel can concentrate on enjoying their time in retirement and spending more time with their family!

These fictional case studies represent unique individual situations and outcomes.  Examples are for illustrative purposes only and may not necessarily be replicated.

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