Exit Planning is a simple strategy to build a business that is transferable through strong human, structural, customer and social capital. The future of you, your family, and your healthcare practice are addressed by exit planning through creating value today. There are many tools available to help individuals get into business, but, unfortunately, there are few that help them get out. That is where we can help.
It is inevitable, you will exit your business sooner or later. Exit planning can be complicated. Most business owners have 90% of their net worth tied up in their business but have no succession plan. Why not prepare now?
What are some of the challenges facing today’s physicians, doctors, dentists, clinicians, and other healthcare providers? 75% of business owner that sold, regret it later because they did not plan properly. Business owners are leaving too many $$$ on the table because they are focused on income generation but not on enterprise value. 70%-80% of business put on the market don’t sell, and 50% of businesses do not survive the death of their owner. Be wary of the “5 D’s:” Death, Disability, Divorce, Distress, and Disagreement.
The Solution: Build, Harvest and Preserve Wealth! Focus on implementing an exit strategy that integrates your business, financial and personal objectives into one master plan to build, harvest and preserve wealth. Remember, “value is about the ability to “transfer.”
How can TFG Health Services help?
To create your Exit Plan, we coordinate your goals, your advisors and implement a customized strategy based on your timetable. As members of the EPI network of Certified Exit Planning Advisors (CEPA) and the CVB network of Certified Value Builders, we know how to guide you to value enhancement and your successful exit plan.
Using a systematic exit planning process developed over the last 25 years, you ultimately decide: When to leave your business, to whom to sell or transfer your business to, the amount of cash you need when you exit, and all while remaining in complete control.
Read more about our Exit Planning Process here.
Contact Lou Fuoco, CPA, CEPA, CVB today to discuss your Exit Planning objectives; 561-209-1101.