Exit/Transition/Sell Business Plan
We help business owners who are interested in selling their business to internal or external buyers. By working with owners on how to make the most of their business value, we address their retirement or exit financial needs and plan for what happens after they sell. Our clients are often unsure of what steps to take to make a smooth transition so we help them plan for a future with which they can be comfortable. Our advising helps reduce the stress of the process.
We help you assess what your business is worth and how you can increase the value before you sell. When a company is valued, it involves far more than looking at a financial statement. The Kansas SBDC looks at a variety of components, including the operation of the business, customers, the industry, and more.
Valuation Improvement Plan (if time)
We provide you with the assistance you need to maximize the value of your business, so you can exit on your terms. We work with you to determine the current value of your business and assess where you need to build value, enabling you to achieve your financial goals inside and outside of the business.
When applying for a traditional bank loan, SBA loan, or a grant, there are certain criteria that most lenders look at. We help you assess your needs and work with you to identify the best funding options for you and your business as well as the steps you must take to meet the criteria.
Loans & Grants: For a helpful overview on Loans & Grants click here.
Loan Steps: Helpful Steps in getting your loan
Crowdfunding - Crowdfunding is an alternative source of funding by which a certain amount of money is gathered by several individual contributors to fund a specific project, invention, or business. Kickstarter and IndieGoGo are examples of crowdfunding platforms that you can use to raise additional funds. Your advisor can work with you to decide which platform would work best for you and the steps necessary to launch your crowdfunding campaign.
Investor Pitches - Pitching to investors is somewhat of an art form. Your Kansas SBDC advisor can help you prepare an effective pitch that explains your business idea, addresses perceived risks, and illustrates a future return for the investor.
Capital Access Center(CAC) - The CAC, part of the Kansas SBDC, is a consulting service to small business owners needing Capital (Loans, Lines of Credit, etc) or that have "Ask a Banker" type of questions that they would feel more comfortable asking the experienced staff at the CAC vs asking their own bank.
Understanding Financial statements: This doesn't have to be a headache. We help you understand the raw materials from which your financial statements (P&L, Balance Sheet, CashFlow) are constructed, including invoices, deposits, accounts receivable and accounts payable, and much more. We help you make sense of the numbers that allow you to keep your business's financial health in check.
Understanding Accounting software for your business, specifically QuickBooks. Why QuickBooks? It’s the #1 accounting software used by small businesses.
Sales Taxes: There are lots of different Sales Tax Rules depending upon your business, so we routinely offer training seminars with Kansas Department of Revenue presenters so you have access to the definitive experts on what you have to comply with (& just as importantly, there are some things you may be doing that you could do differently to save money!)
Putting the Numbers to use with Key Performance Indicators (KPI’s): You are tracking all this info about your business, but are you using those numbers to help you operate better? Many times the answer is no, let your Kansas SBDC Advisor help you use those numbers for Projecting/Budgeting and Goal Setting for your business to help lessen some of the “negative surprises” that can occur when running a business.
The Kansas Center for Business Transition is a free resource to help small business owners plan and execute their business transition, through a joint effort between Johnson County Community College and the Kansas SBDC.
Funded in part through a Cooperative Agreement with the U.S. Small Business Administration.