Succession Planning Process

Stage 1: Identify Value

COLLECT INFORMATION:

  • Step 1: Initial meeting and overview of business.
  • Step 2: Complete Fact find and questionnaire for benchmarking and financial situation.
  • Step 3: Provide Financial Statements and Due Diligence information.

REPORT:
Valuation – How much is the business worth ?

  • Due Diligence – What issues are there that might reduce value ?
  • Financial position – review of structures and overall position.
  • Benchmarking – Identify value drivers and key factors for improving performance.
  • Strategic exit options

OUTCOMES:

  • Accurate external view of business
  • Housekeeping and clean up of affairs
  • Identify business issues
  • Align personal and business wealth

Stage 2: Maximise Value

  • Review Strategic exit options report and agree strategy
  • Identify growth / improvement strategy – benchmarking
  • Lock in & motivate key staff = Peak Performance Trust
  • Structural issues – restructure if required
  • Review risk issues – insurances of key people and assets
  • Tax issues on exit
  • Estate planning issues on exit

OUTCOMES:

  • Assessment of best exit options
  • Growth plan for business
  • Sales and marketing plan
  • Detailed exit strategy
  • Protection against unplanned events
  • Add value to business ( whether selling or not )

Stage 3:Extract Value

  • Implement exit strategy – management buyout, trade sale, merger etc
  • Transactional issues – legal advice, tax and accounting
  • Review structural issues – which structures do we need to continue, which assets are we selling, which assets are we keeping and who/which structure best to own them
  • Self Managed Superannuation Fund – Strategy – protect proceeds of sale
  • Future investment options for sale proceeds
  • Finalise transaction/s and documentation

OUTCOMES:

  • Sales strategy
  • Align personal and business structures for best result
  • Tax planning
  • Legal advice

Stage 4 : Manage Wealth

  • Proceeds of sale – protect and manage for future
  • Estate planning – wills and insurances
  • Other assets / investments
  • Ongoing review and monitoring

OUTCOMES:

  • Maximise performance of passive income
  • Identify risk areas
  • Protect assets
  • Utilise tax benefits of SMSF