Success Story: Selling your business stress-free

After 40 years in the boutique industry, Mary Edwards wanted to sell her small business and transition into retirement. She had no idea how to go about it. 

Problem:  She was a widow with no family available to support her with this transition.  She had a buyer interested, but no clear plan and limited documentation to demonstrate the value of her business and its growth potential.  She also didn’t know how to market her business and get the best price as quickly as possible.  This was her primary asset and best chance for a decent retirement so she wanted this done right.

Solution: To Mary, everything to get ready for the sale was overwhelming and she wanted as much help as possible so she sought the help of her CPA (Certified Public Accountant).  His team was already doing her payroll, tax returns, and quarterly bookkeeping.

Accountant’s Role:  Mary’s Accountant assisted with the preparation of financial data and due diligence for the buyer, and negotiations around purchase price as well as the structure of the transaction.  In particular, the Accountant provided detailed advice with a view to effectively minimizing the tax implications associated with the transaction and moving the proceeds into the most tax-effective environment.

The Accountant also provided a referral for a lawyer and worked closely with her throughout the transaction.  The settlement of the sale and handover process was seamless for both Mary and the buyer, as the accountant came up with a “win-win” sale structure for both of them.  The CPA’s office also provided estate planning and financial planning advice which allowed Mary to move on into retirement with financial peace of mind.  She’s now traveling around the country visiting all the places she always wanted to see.

Might a similar strategy work for you?  Bressler & Company can help you get the most for your business even if you aren’t a current client.  Give us a call today — 559-924-1225!