Make Your Succession Plan Successful
Passing down the family business to future generations is a goal for many business owners. Yet studies have shown that 70% of businesses will not survive into the second generation, and 90% will not make it to the third generation (Family Firm Institute www.ffi.org).
How can you ensure that your family business will continue to prosper during and after a transition? By developing a succession plan. The Edge Retail Academy experts will help you create a successful succession plan that includes:
- A set of proven family-business succession principles to steer the process.
- A Family Business Constitution with your own set of Family Business Rules to help guide current and future transactions.
- Creating a shareholders agreement.
- Unique family business clauses that can be integrated into your Shareholders’ Agreement, Wills, and other legal documents.
- Pre-determined exit strategies.
- A dispute-resolution process.
- A proven conflict-avoiding valuation method.
- Transparent process guidelines that include the broader family impacted by the succession plan.
But then, we take the succession plan we created and implement it for you. Unlike other firms that simply offer succession strategies, the Edge Retail Academy will work with you to create a customized plan, then establish family business communications forums to put the plan into action. We’ll facilitate those meetings until the succession process is complete.
Think of it like this: we could give you the recipe to bake a cake and hope for the best, or we could bake that cake for you and guarantee it’s a success.
Interested in our succession planning services? Click Here to request more information.