What They Don't Tell You About Business Exit Planning

Thinking about selling your business, but don't know where to start? In this episode of the Tax Talk Podcast, Jared Pilon from Legacy Accounting LLP sits down with Travis Koivula, Investment Advisor at Island Savings Wealth Management, to unpack everything you need to know about successfully exiting your business.

Learn why most business owners wait too long to plan their exit and how that mistake costs them thousands. We’ll also reveal the critical three-year minimum planning window and why "selling when you want to, not when you need to" is the key to maximizing your business value in this podcast episode.

What you’ll learn:

• Understanding market windows and why you should time your exit strategically
• Common exit strategies like family succession, management buyouts, and third-party sales
• Why doing less in your business makes it worth more
• Vendor takebacks and earnouts: When they work (and when they don't)
• Why having your documentation ready prevents buyers from walking away
• Proper funding strategies using life insurance

Find us at:

https://www.legacyllp.ca/

reception@legacyllp.ca

Need to get in touch with Travis?

Travis Koivula

Island Savings Wealth Management

tkoivula@islandsavings.ca

Timestamps:

00:00 Kicking it off

01:47 Start planning your business exit

05:51 Be prepared: Avoid deal fatigue

11:28 Family succession strategy

16:49 Third-party sales

18:13 Management buyouts

20:38 Tax implications of a business sale

27:17 Contingency plans

31:50 Vendor take-backs

35:25 Wrapping it all up

#BusinessExitPlan #SuccessionPlanning #ExitStrategy

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