Your Company Needs a Succession Plan
Why Your Company Needs a Succession Plan Now – You’ve endured countless hours and sleepless nights. You’ve spent years dreaming, planning, and building your business. You’ve nearly reached, or even surpassed, targeted financial goals.
Amidst all of the time, energy, sweat, and fears… have you considered who’s going to keep your company going when you’re no longer able?
Though you may not be planning to retire for several years, what if it’s not by choice but rather disability, illness, or death that forces you from the business?
Is the process in place for who takes over next? Will they know what to do?
Even in family businesses where the successor is known, succession planning is more than simply identifying who is next in line to run the company but ensuring that they also know how to run the business. And in some cases, that confidence can take years.
Succession Planning
Long and short-term goals are crucial components of successful succession planning to assure the company’s objectives are maintained throughout and beyond the transfer of ownership. Likewise, strategic planning for additional capital and/or financial reserves may be necessary for the preparation of emergency or “unforeseen” successor changes.
Planning for the possibility of passing on your business before you’re ready to retire can be emotional and stressful. Working with unbiased professionals who are dedicated to protecting the longevity of your company is essential. Crescent Franchise Solutions is here to guide you through and strategize with you to preserve your legacy.
We know the energy and continued effort put into building your business, and we want your successor to have continued success as well. Our extensive expertise offers a comprehensive solution unique to each business’ needs and goals.
Want to read more about this topic, see this article from Financial Media Exchange.
Contact Crescent Franchise Solutions
Contact Crescent Franchise Solutions at 941.923.3663 or visit us at CrescentFrancise.com to schedule your time to plan your company’s future path. We’ll answer any questions to ensure you have the financial information and assistance you need for successful succession planning.
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