Management and ownership transition planning is part of the life cycle of all privately owned businesses. It is critical to understand the process and work side-by-side with experienced counsel who can assist in formulating an effective, comprehensive and timely plan. The professionals at Farrell Growth Group (FGG) have decades of successful experience working with agribusinesses on management and ownership transition planning.

The FGG team can help you develop plans to transition the business to a next generation of leaders, including family members when appropriate. Or they can help develop a plan to market the business which will maximize the net proceeds to the owners while working to ensure that the business’s employees and customers are treated right after the sale.

Regardless of the plan, business owners need to start the process well in advance of the ultimate transition.

Services offered by the professionals at FGG include:

  • Assisting owners in determining their long-term business objectives
  • Analyzing options to achieve those objectives and presenting alternatives to consider
  • Making recommendations on ways to improve the overall business to make it more attractive to potential buyers
  • Business valuation to help owners determine the real value of their business
    • A business valuation can help assess the strengths and weaknesses of the business
    • An FGG business valuation includes sensitivity analysis which will quantify the impact of internal improvements and external factors like tax rate changes

It takes careful planning and solid execution to transition an operating business successfully. Our team can assist owners who are just beginning to develop succession plans, as well as owners who are well down the road and are seeking professional help implementing their plan. We also advise customers to seek other outside counsel when needed, including legal and tax advice. And we work closely with our customers’ outside counsel.

Being prepared at the right moment is paramount to maximizing the value of the business and a smooth business transition. If you are considering the next steps for your business or if you first want to know your business’s current market value, give Brad Oelmann a call at (319-404-1914) or send an email to (boelmann@farrellgrowth.com).