Cashing Out and Moving On
May 11-12, 2011
Hilton Garden Inn Chicago O'Hare Airport
Des Plaines, Ill.
Most business owners have 70 percent of their "illiquid wealth" trapped in their businesses. Roofing contractors have a basic understanding of what is required for succession and the business sales process but have no systematic tools to prepare for this complicated legal, financial and time-consuming process. Attend this Beacon Exit Planning seminar to be positioned for the next window of opportunity to exit or transfer your business!
This two-day seminar, Cashing Out and Moving On, will dig deep into exit planning, valuation, taxes, interactive contractor case studies, income replacement and succession. By participating, you receive:
Presenters of this valuable seminar include Kevin J. Kennedy, founder of Beacon Exit Planning, LLC, Joseph Bazzano, CPA, CVA of Private Equity Transitions and Daniel J. Munro, JD, CLU of AXA Advisors. To view complete instructor biographies, click here.
- $613 of bonuses
- Breakfasts (two), breaks (three) and lunch (one); ($105 value)
- Bonus—all attendees receive a 30-minute, one-on-one consultation while in Chicago. This mini "Beacon Audit" consultation ($150 value) includes a review of your goals—financial and mental readiness—value gap
- Bonus—all attendees receive a 60-minute follow up consultation ($300 value). This "Beacon Audit" includes a review of your goals—financial and mental readiness—value gap
- A three ring binder with agenda and slide printout of the seminar
- Beacon Exit Planning "Succession" white paper ($29 value)
- Private Equity Transitions "Exiting Can be Very Taxing" White Paper ($29 value)
- Reduce your risk with your largest lifetime financial event (Invaluable)
- Position yourself with information to succeed while saving you company time and money
To see a schedule of activities and topics for this course, click here.
May 11 from 8:00 a.m. - 4:00 p.m.
May 12 from 8:00 a.m. - 11:30 a.m.
1.5 IACET CEUs
Begin A Plan to Protect:
Who Should Attend?
- Your Legacy and Company Survival
- The Illiquid Wealth "Trapped" Inside Your Business
- The Future of Your Valued Associates and Family
Roofing contractor owners, partners and CEOs who are positioning themselves to sell or transfer their ownership in the next 3-10 years. This includes:
- Large Companies—Cash flows over $1 million
- Small Companies—Cash flows under $1 million
- Young and old companies
- First, second and third generation companies
- Sole owners and multi owner companies
A roofing contractor/owner intuitively understands the daily risks they face with safety, economic cycles, recession, insurance, cash flow, weather, bonding, government regulations, contracts and labor agreements.
But, most do not understand the risk and challenge of exiting a business. The odds of success are heavily stacked against you. How many contractors, large and small, young and old, have you personally witnessed fail only to leave their wife, family and associates without a future or income?
Consider the odds against the exiting owner:
If you are serious about protecting your wealth then you need to attend this seminar. You will then understand the process you need to prepare yourself and the company for the next 3-5 or 15 years and position yourself for a sale or transfer.
- Seventy percent of small businesses fail to transfer into the 2nd generation
- Ninety percent will fail into the 3rd generation.
An industry survey concluded that most business owners have over 70% of their wealth stuck inside their businesses. In order to retire owners will need to monetize this trapped wealth, replace their income and replace themselves and move on to the next chapter of life.
Owners need to prepare for the next window of opportunity to exit their business. Many companies need to build up their value, restructure their company, move their management team to a higher level and determine the next CEO.
Roofing contractors have a basic understanding of what is required for succession and the business sales process but have no systematic tools to prepare for this complicated legal, financial, and time consuming process.
Kevin Kennedy exited the 62 year-old roofing business in 2008 with two other owners (Evans Roofing Company) and speaks with an authentic voice that will leave owners with:
What is an Exit & Succession Plan?
- Understanding of their challenge
- Options and exit paths that fit your company
- Different values, benefits and compromises of each exit option
- Information to explore the tax issues and net amount for your exit
- A path to begin planning and organizing their business and management team
- A timeline to begin replacing their income and moving into their next stage of life
An Exit Plan focuses on monetizing the business and moving onto the next stage in life. The plan establishes and controls the process of when, who, and how to monetize the illiquid wealth trapped in your business and protect your wealth. Writing and creating the plan can take between three and nine months and will determine all your options for exiting your business.
A well-devised exit plan shows business owners how to begin positioning themselves and their businesses so that the owners can accomplish all of their personal, financial and business goals. It is a complex process that protects the business and leverages the value of the company with a comprehensive and executable plan.
A Succession Plan is about grooming the management to move into leadership and finding a new CEO. In a broader sense, it is about creating a culture of continuous succession that focuses on the human capital to delivering a top-quality product to your customer, and protecting the future of the company with an orderly transition.
This can take between two to seven years depending on the professional level of your management team. A well-devised succession plan shows business owners how to replace themselves by a succession process that moves the key players into professional management and then into leadership with a comprehensive plan to deal with:
- Establishing a clear direction
- Professionalizing the company
- Development and improvement of management systems
- Development and training of the human capital
- Development of teamwork and leadership
- Selection of new owners and/or a CEO
"This was very timely. It not only included the money side but the planning, training and emotional part of planning your next step in life. We all think about it, but do we have the ability to walk out the door? I can now say, 'Yes!' I have the ability to make the plan and to make it work. Thanks."
—M. Carpenter, Columbia Roofing & Sheet Metal, Tualatin, Ore.
"This program presented a lot of complex issues which were explained in a concise and understandable format. This subject matter is vitally important to any small business owner. Very eye opening. "
"Very good seminar! I wish this seminar had been available 10 years ago. "
—K. Gwyn, Triad Roofing Co. Inc., Winston Salem, N.C.
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