Consider various strategies for transferring ownership, including gifting, selling or redeeming the owner’s interest, selling business assets, tax-free exchanges and others methods.
Succession planning involves the perspectives of the purchaser as much as the seller. The purchaser could be the children or other family members of the owner, or they could be non-family members. Here are considerations to make when accounting for buyer perspectives.
Transitioning ownership involves careful consideration of how the transaction will be funded. Buyers and sellers should remember several funding options in succession planning.
The successful transition of management responsibilities is a critical part of a succession plan and even more critical to the ongoing survival of the dealership.
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