It would be an understatement to say the past few years have been unusual. A variety of factors indicate the U.S. is headed for recession, but it’s not here just yet. If you keep up with Johnson Consulting Group regularly, you know we speak about the business lifecycle often. This is important because regardless of any outside input, the business lifecycle is a constant. We always want you thinking about your business’s valuation and your exit strategy.
Securing a Succession Plan
We already know from prior research that many funeral industry professionals do not have an exit strategy or succession plan in place. JCG aims to fix that. With proper planning you give yourself the ability to shift and pivot as factors change and fluctuate, both internally and externally.
Consistently looking at the valuation of your business works hand-in-glove with your exit strategy to make it possible for you to execute the sale of your business at any time. Specifically, when the time is right for you.
Whether you’re interested in selling to a family member or trusted staff member, a solid look at your value is needed. The experts at JCG will consider all aspects of your business alongside the market and the most up-to-date tax regulations. We want you to have confidence in your planned exit and knowing the state of factors such as cash flow, your risks, and growth opportunities all fit into your valuation. Through these items you give your potential buyer a sneak peek into the realistic future of the business and potentially improve the profitability of your sale.
Perfecting Your Exit Strategy
Working on exit with the JCG team of consultants puts you and your goals at the front of the process. Our team will be with you for every step of this milestone experience. We will:
- Maximize your value
- Ensure your legacy is preserved
- Create engaging marketing to entice buyers quickly
- Carefully select only serious and qualified buyers
- Provide a seamless process through every detail
The exit process is lengthy and requires you to review and assess it often. So, while the immediate market conditions might not seem ideal, getting this process underway is important. The market is only one factor in the big picture of your business lifecycle. Don’t let fear of the unknown cause you to hesitate on the next steps for you and your business. We like this Inc. story about understanding your fears and how to plan broadly.
Funeral profession owners who sell with JCG realize 7-10% more in value than those who sell direct. We are the experts when it comes to making the sale of your business simple and easy.
Start planning with JCG today.