FOR IMMEDIATE RELEASE
Exit Planning Partners Helps Business Owners Make Strategic Transitions
New company empowers owners to exit their business when they want, to whom they want, for the amount of money they need.
September 1, 2009: ST. LOUIS, Mo. - The owners of many small and mid-size businesses have been especially hard hit in the current economic recession; their expectations for the future dramatically altered. Visions for an easy, profitable sale of the business "when the time is right", whether to family, employees or outsiders, have been replaced by the reality of struggling to remain profitable in this economy. But with the beginning of the end in sight, now is the time to develop a plan to transition out of your business, when you are ready. Exit Planning Partners was launched in St. Louis to provide business owners the knowledge and process to allow them to exit their business on their terms.
"There are many tools available to entrepreneurs looking to get into a business, but not many for entrepreneurs looking to transition out," said Dave Driscoll, principal and founder of Exit Planning Partners. "Exit Planning Partners creates a road map that delivers peace of mind to each client through a personalized, custom exit plan. We work with owners to create a strategy to maximize the value of your company while minimizing tax liability."
Exit Planning Partners works collaboratively with owner clients, their CPAs, lawyers, bankers and financial advisors to create and implement exit plans using The Seven Step Exit Planning ProcessTM, a sophisticated system developed and refined by over 30 years. We are members of a nationwide network of Exit Planning Advisors employing the resources of the Business Enterprise Institute. Whether the goal is to sell the company to an outsider or transfer ownership to a key employee or family member, the Seven Step process works to establish owner objectives, establish business value and cash flow, identify Value Drivers, develop a contingency plan for the business, and refine wealth preservation planning. Exit Planning Partners acts as the quarterback of the team insuring the complete implementation of the owners' unique plan.
"People need to plan ahead, whether they are exiting their company in 1 year or 20 years. Having been in a business owner myself, I understand the emotional and practical needs of business owners," Driscoll said. "This experience uniquely qualifies me to help business owners plan the single most critically important event of their professional lives -- the transition out of their business."
Driscoll opened St. Louis-based Ambassador Envelope in the late 70's before fax machines, e-mail and on-line bill paying dominated the market. Throughout the years, his business boomed. At one point, Driscoll even turned down opportunity to sell the company from an interested buyer. However, the advance of technology, the exit of major customers from the St. Louis market and nation-wide market consolidation dramatically affected the industry and Driscoll elected wind down the operations, and liquidate operations in 06.
"Business is cyclical. Understanding that and preparing for those cycles is critical," Driscoll said. "Now is the time to position yourself, and your company for transition. The best time to exit is at the midpoint of an up cycle."
About Exit Planning Partners
Exit Planning Partners works with business owners to help develop and implement exit strategies, estate/wealth preservation plans and strategic plans. The company helps maximize financial return, minimize tax liability and plan for contingencies to increase the likelihood of a successful transfer of the business. Exit Planning Partners can work collaboratively with a company's accountants, bankers, attorneys, insurance and financial advisors or can assemble the team of professionals to position the company for transition. Founder and Principal David Driscoll has 30 years of experience in the development of several businesses, evolving from startups to complex capital intensive business enterprises. His companies have employed hundreds of people, developed teams of managers and distributed products throughout the United States. For more information visit www.exitplanningpartners.com.
