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Essay / Research Paper Abstract
This 3-page paper provides an example of an exit strategy for the ownership of a hunting apparel company. Bibliography lists 2 sources.
Page Count:
3 pages (~225 words per page)
File: AS43_MTexitstra.doc
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Unformatted sample text from the term paper:
for many years, however, the owners want to retire and are deciding the best way to do this. When it comes to any
kind of an exit strategy, the main keys involve transfer (or sale) of the physical property and transfer of knowledge (Mindel and Sleight, 2010). If the business is a family
business, there are other issues, such as family politics, inheritance laws and IRS regulations (Mindel and Sleight, 2010). This is why its wise for succession plans, at least in family
businesses, to be designed and implemented far in advance (Mindel and Sleight, 2010). But what if the plan here isnt to pass the
business along to heirs? What if the owners of this particular business want to sell, then retire? Well, there are guidelines here to consider as well. Bowen (1997) points out
that the steps to selling a business and managing an exit strategy are 1) getting an honest valuation of the business; 2) identifying strategic buyers (and determining if they have
the money to buy the business); 3) marketing the business; 4) negotiating with the potential buyers and finally 5) closing the deal. Such a deal, incidentally, would also like include
some kind of non-compete agreement and some kind of consulting agreement, and an earn-out (Bowen, 1997). Now, given that our owners want to
retire (presumably to play golf or some other such thing), we can assume that they wont want to open up another business to compete against the one that was just
sold. We cant assume this, however, so the non-compete clause is an ideal one. With all of the above in mind, lets
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