Succession Planning

Succession Planning is Important

Your business is probably your most valuable asset, however every business owner needs to plan for the moment when they decide to retire from running that business. This process, often called Succession Planning, is critical to ensure:

* Your business ends up in the right hands
* The sale process goes as smoothly as possible
* You receive as much money as possible and any tax due on this is minimised.

If you do not leave enough time to plan for this activity or do not get the right advice, the implications can have a seriously detrimental effect. 

Use Monahans Succession Diagnostic to identify the strengths and weaknesses in your business in relation to succession planning. This will help you to identify the areas to address to enable you to successfully dispose of your business.

Use this link to try Monahans Succession Diagnostic.

A Unique Approach

Monahans Corporate Finance team has built up considerable experience and expertise in selling family owned businesses.

Our unique Business Succession Routemaster will enable you to identify where the value lies within your business, to put together a plan to realise this value and to ensure this plan is achieved through an active strategy and ongoing support.     
       
Identifying the Options
Do you want to pass the business to the next generation of your family, to a younger management team or sell it to a third party? We will help you analyse all the options and their implications, decide on the best course of action for you and develop a plan for your chosen route. Alternative strategies could include a merger with another business, a flotation or even liquidation.

Identifying the Value in Your Business
We will identify the elements of your business that people will pay for and some of the issues which could reduce its value. The key areas to consider are cash flow, profitability, the structure and nature of the business, any cash surplus and property.

Grooming Your Business for Sale
This process will make your business as attractive as possible to potential buyers, maximise its value and ensure it is structured in the most tax efficient way. These changes can be wide ranging and need dedicated attention, often over a considerable period of time. We will ensure that this process is effective and that you reap the rewards it will bring.

Non Financial issues
We can hold meetings to identify and deal with issues such as culture or giving a Management Buy-out (MBO) team the skills they need to takeover the business. It is important to include the existing Management Team in this process, even if an MBO does not happen, so that they remain committed to the business under the new owners.

Ongoing Support
The entire grooming process can be time consuming and difficult to manage. We will hold quarterly review meetings to monitor progress towards key objectives, identify ways of maximising profits and reducing costs and to identify and eliminate non-core activities.

What Our Clients Say

We have helped many people to groom and sell their businesses.

“There was a great deal more to marketing and selling a business than I ever realised. An experienced professional is certainly an essential and I would have no hesitation in recommending Monahans.” John Bowen – Hexagon Software

“Monahans helped us every step of the way through this highly complex process and we were impressed with their professionalism and determination” Vince Purcell – Potters & Sons (Swindon) Ltd

What Will It Cost?

Probably a lot less than you think.

A one off charge of £600 for the initial half day review meeting, which will result in a detailed succession plan, and then a monthly retainer of just £155 covers our ongoing support during the grooming process. This retainer includes quarterly review meetings and a telephone help line for any queries you may have during business hours.
 

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