My name is Jonas Queen, owner of “Queens HVAC, LLC.” I started my business 23 years ago with a truck and a dream - to build a great small business that could provide financially for my family, perhaps even a business my kids would want to own one day in the future. 23 years later I’ve been able to achieve that. We are now a $4M revenue business with 36 employees. My 3 children are all grown and one of them is interested in taking over when I leave. I’ve had health issues recently, at age 63, that have caused me to realize I may need to exit sooner than I planned. I know I need to step away in the next 2-3 years, but I’m not convinced my son is ready to run the business. I don’t really know what is involved in selling to an outside buyer either. So, I feel like I’m in unfamiliar territory and my horizon is short. Additionally, my legacy is important to me. I’ve worked hard to build my business and I don’t want to see it fold the day I step out. I need some help. I only get one shot at this and I have to make it count.

What are the issues facing Jonas?

His health is making running his business harder. He wants to exit, but is not clear on what action to take. His window of exiting is very short and is creating anxiety that is further impacting his health challenges. His legacy is very important. He wants to create generational wealth for his family. He’s afraid of making mistakes and leaving money on the table. He doesn’t really understand the market terrain ahead of him and needs guidance.

A Trusted CEPA advisor knows how to navigate Jonas’ challenges.

My name is Stephanie Jameson. I started my Travel Planning business 17 years ago out of a hobby that I enjoyed. Since then, I’ve grown it into a $1.5M business with 9 employees and 6 contractors. My husband is a few years older than me and we realized this year that our time to “hang it up” is approaching, likely within in the next 3-5 years. While my husband has had a good job and will retire with a solid savings, we both realize, to live the retirement life we truly desire to live, we need my business to sell for a good profit. Our dreams are tied up in our business selling successfully. Over the last few years I’ve grown a bit comfortable with the income I’ve been pulling from the business, but it’s become clear we both need it to become stronger so we can reap a solid windfall when we are ready. However, I’m not clear on the actions I should be taking now to increase the value of my business over the next 4-5 years. Additionally, my employees, who feel like family, are depending on this business for their livelihood and I have to make sure the business remains in tact for their future as well.

What are the issues facing Stephanie?

She created a great personal business, but now wonders if there is any value at the end when she’s ready to exit; Is there an asset to sell? Her timeline to exit is good; she has the time to implement the business improvements necessary, but is unsure what actions are the right ones. Her “3rd Act” (Retirement life) is becoming clear and she’s ready to move in that direction. Most of her and her husband’s wealth is tied up in her business, so a successful sale is crucial to their plans. She wants to take care of her employees.

A Trusted CEPA advisor knows how to navigate Stephanie’s challenges.

My name is James Brown and I started my business 10 years ago with my long time friend and business partner Sam Gerrard. We are 50/50 partners, but Sam is older than me by 6 years. “B&G Engineering” has carved out a niche in the civil engineering space in eastern, NC, with a revenue of $8M and 24 employees. While I am in my mid-40’s and have no intention of retiring any time soon, it is vital to Sam and I to build a business that can be ready to move in any direction the market might take us. To do so, we recognize the importance of having strong systems and strategies in place to make our business appealing to a potential buyer. While our goal is not to exit into retirement at this stage in our lives, we want to be ready to exit into a better quality of life if an opportunity comes along over the next 8-10 years. However, we are unclear as to what our next steps should be to empower us to be ready should it arise. We want to be intentional about making the improvements that will really get us to that goal.

What are the issues facing James?

He and Sam have built a solid business. They understand the importance of value creation; it’s critical to them to have an asset to sell. They are both several years away from retirement, but they realize the importance of being prepared now. Waiting until they are ready to retire to begin building value is a bad idea. Their business exists to create a particular lifestyle for them and their families - their business is a means to an end. They understand that increasing the value of their business for the future will also translate into more profit today, so it’s a win-win. They need help with identifying the most strategic actions to take to increase their business appeal in the market. They want to be purposeful with every business decision.

A Trusted CEPA advisor knows how to navigate James’ challenges.