Business Exit Strategy Assistance from the Herrera Group

When planning your estate and/or retirement as a business owner, you’ll want to create a thorough, well thought out business exit strategy that meets your needs. At the Herrera Group, we can help you do just that. Whether you’re planning to retire or are looking at what will happen to your legacy once you’re not here, we can assist you with planning strategies any business owner would be proud of. We can assist you with a wide range of business exit strategies so you can create one that fits your needs.

What Are My Options?

When it comes to planning your exit from a business, you have options. Some of these options include:
  • Transfer Ownership to Your Children
  • Employee Stock Ownership Plans (ESOP)
  • Sale to a Third Party
  • Liquidation
Depending on your goals and what legacy you want to leave behind, we will find an option that will work best for you. Upon your initial visit, we can sit down with you to discuss what options you’d like to explore and what your goals are for your business. From there, we’ll create a strategy that best works for you. This will help determine what happens to your organization in the future when you can no longer run or own it. Let’s take a look at these options in greater detail.

Common Goals for Business Exit Strategies

Regardless of the business exit plan you choose, there are some common goals we’ll work with you to meet. These include:
  • Growing your business
  • Protecting your assets
  • Executive compensation
  • Ensuring the continuation and succession of your organization
  • Minimizing taxes
  • Promoting, recruiting, retaining, and rewarding your key employees
  • Permanent life insurance, term insurance, defined benefit retirement pension plans
  • Maximizing your compensation benefits
  • Providing for estate equalization
  • Promoting family harmony
With a good strategy in place, you can more easily meet these goals and be successful. We can aid you in doing so.

Leaving a Business Owned by Multiple People

Many businesses are opened by multiple people, meaning there is not one sole owner or proprietor for said business. If you plan to leave a business you started or own with multiple people, we will help you devise an exit strategy that works for that, ensuring that the legacy you created by working with that business stays intact.

Transferring Ownership to Your Children

If you own a business and plan to pass down the ownership to your children, we can create a plan for doing so. This way, your company can thrive and maintain everything it stands for even when you are no longer here. It can also aid your children in the direction they take the business once you have passed.

Employee Stock Ownership Plans (ESOP)

Another option you have is an employee stock ownership plan. An employee stock ownership plan offers an ownership investment to employees of a company. Essentially, they pay a cost up front to get stock within the company. Then, once the owner retires, the company is divulged to them, upon certain conditions of course. This is a great option to keep the company running the way you want it to with employees you’ve already built trust in.

Selling Your Business to a Third Party

Many business owners opt to sell their business to a third party. We will help you execute this plan, ensuring that your company isn’t demolished or closed once the third party buys it. A solid contract can ensure that your business continues as you would wish it to.


Alternatively, some business owners don’t want anyone else to own their business or continue their legacy, which is okay. Another option you have is liquidation. This pretty much involves selling your inventory, often at incredibly low prices, and then closing your business and selling the space you own (or ending your rental contract) for good. Many business owners do this when they—understandably—do not want anyone else to take over. We will help you through this process to ensure it is successful.

Schedule an Appointment With the Herrera Group Today!

Planning how you want your company to continue or end once you retire or pass is important. It can alleviate issues with insurers, the government, your family, your employees, your partners, and so on. At the Herrera Group, we’re dedicated to helping people be smart about their finances and plan for their futures, including creating a successful business exit or succession strategy. Give us a call to schedule an appointment. We look forward to helping you!
Business Exit Strategies

Business Exit Strategies

Our business is built on a foundation of thoughtful client relationships.

Learn more