Exit Strategies and Succession Planning
You Built This Business on Your Terms.
You Deserve to Leave It the Same Way.
Let’s Make That Happen.
Unfortunately, most business owners start thinking about succession when something forces the conversation. Whether it’s a health event or family change, or even good news like an unsolicited offer, there’s a realization they’re ready for what’s next.
We believe, and our clients agree, that the best way to take control is to start with an exit strategy years before anything happens. We also know that’s not always possible. Wherever you stand, we’re here to help.
Get Answers From People Who Know
It’s Natural to Have Questions. We’ve Been There.
Our senior advisors have all started and sold businesses. So we know how you feel, whether you’re thinking one year or ten years in the future. These are the questions we asked, and the ones owners ask us most often.
When should I start planning my exit?
Honestly, earlier than you think. We’ve found the former owners who look back and feel best about their outcomes are those who gave themselves time. In general, starting three to five years before you intend to sell frees you to address value gaps, time the market, build management depth, reduce dependency on your expertise. That said, it’s never too late. A structured approach can see you through it.
What are my options? Does selling mean I have to walk away?
Not necessarily. There are several paths your exit can take and the right one depends entirely on you. A full sale transfers ownership completely, which is often the right choice for those who want full entrepreneurial freedom. A partial sale or recapitalization lets you take meaningful capital off the table while staying involved and positioning yourself for a more complete exit down the road. A management buyout transfer extends ownership to the team you’ve built (or are building). Family succession passes the business to the next generation. Our process helps you discover which best aligns with your goals.
What if I’m not sure I want to sell?
Most owners we work with start out simply exploring their options, not committing to a decision. Our job is to help you understand the personal, professional and financial implications of a sale. Again, you’ll work with advisors who have been in your shoes, so their perspective can help you make the right choice for you. It’s an honest, no-pressure conversation about where you are and what lies ahead.
How do I know if my business is ready for sale?
Most businesses aren’t ready when owners first start thinking about an exit. That’s fine. It’s important to look at your business from a buyer’s point of view, so that’s the perspective we take. We’ll look at factors like management depth, revenue quality and your growth trajectory to see what needs attention before you go to market.
What happens to my employees and the company culture after the sale?
For most owners, this question matters more than the number. The right buyer, found through a process built around your priorities, protects the people you value and the culture you’ve built. Our process vets every buyer based on their track record with the teams they’ve acquired. We build transition terms, retention provisions and cultural considerations into the deal right from the start.
How does this connect to what my business is worth?
Closely. Understanding the current value of your business, and what specific factors are driving that number, is essential to building a realistic exit strategy. It tells you how much room you have, what to focus on between now and your exit, and what a transaction could deliver.
What if I want to pass the business on to my children, and they’re interested?
Family succession can be one of the most complex transactions to execute well. It’s also one of the most rewarding when done right. You’ll need to have honest conversations, with your team, your family and us about leadership readiness, future ownership structure and family dynamics. You’ll also need to consider tax planning and other financial implications. TREP helps you build a plan that honors what you’ve built and sets up the next generation to grow it.
Our Approach to Succession Planning
Knowing What’s Next Helps Us Plan Right from the Start.
We believe every successful succession planning engagement should start with you. Not with your EBITDA, not your org chart or product mix. You. What do you want your life to look like in three years? What does the business mean to you, and what will it mean if you step away? What are you not willing to compromise, and what can you let go?
Those answers, and many more, will shape the road ahead, built around these three tracks.
Financial
How much do you need from this transaction, and is your business realistically positioned to deliver it? We’ll look at your current valuation, identify opportunities to help you meet that number, and build a plan to get there.
Business
What needs to change before you go to market? We’ll review your balance sheet, capital expenses, cost structure and business model. From there, we’ll identify the operational improvements, key hires and strategic changes that will strengthen your position.
Personal
Do you want to stay involved with the sale? For how long, and in what capacity? Who do you want to sell to? Is it a PE firm, a competitor, your management team or your kids? Someone else? Those shouldn’t be after thoughts. We’ll build sales targets into the plan from day one.
Straight From Our Clients
They went to bat for me. TREP finds itself mostly on the East Coast, but they may as well have been on the West Coast with me because the time didn’t matter — they were always there.”
— Spencer Dahl, Owner and CEO, Viking Mechanical Refrigeration
Building the Pillars of Entrepreneurial Freedom Starts Early.
As former business owners ourselves, we’ve built TREP around you and the things that matter to you. We call these the Four Pillars of Entrepreneurial Freedom: Time, Relationships, Economics and Purpose.
Maybe you’re looking to spend more time on personal hobbies, or perhaps, a venture that is currently a “side business.” Maybe you’re looking to protect your culture and employee relationships. Perhaps you’re looking to maximize your returns while the market is hot. Or perhaps you’re considering this to preserve your legacy and fund what comes next.
The truth is, for most owners in your position, it’s usually a combination of all of these things. Understanding which ones are most important is where we start.
Here’s What to Expect Next.
When you talk to TREP, our conversations begin with curiosity, not commitment.
1
A confidential 20-minute call.
We’ll learn about what you’ve built, what you want next, and what’s driving your timing.
2
We’ll explore options with you.
Our senior team will dig deeper into your business, explore valuation and discuss possible paths forward.
3
You decide what’s next.
You’re always in charge. You can move forward, or step away to think more. It’s a big step. We’re just honored you’ve taken the first with us.
