As we approach the holiday season, I am reminded of Christmas gatherings and the exchange of gifts between family and friends. While we all enjoy receiving gifts, it is the joy I get from giving that is most fulfilling. It’s especially so when the gift is something that has lasting impact for the recipient.
A business starts with a skill, a dream, and a whole lot of hard work and sacrifice. Add some luck (some might say) and it flourishes, supporting the families of its owners and employees while making a difference in the lives of its clients, customers, and community. Thus, selling that business can be hard.
“Most business owners have no idea how emotionally fraught the process can be,” says Greg James, CFP®, a partner at Parsec Financial. “Clients approach us with a wide range of feelings, from excitement to fear and reluctance, but they all want to know what their business might be worth and if they’ll be able to retire comfortably after the sale. Understandably, it’s difficult for a business owner to look at the value of his or her company through an objective lens. That’s where we come in.”