Having an exit plan in mind is one of the most important plans a business owner makes. Unexpected events can arise, forcing owners to scramble to make a deal and possibly lose millions of dollars on a low offer. Home Health and Hospice Managing Director Mark Kulik recently spoke with Home Health Care News regarding the importance of having an exit strategy and that more and more business owners are shying away from passing the business to a child or an associate.
“It’s rare to have a child to take over, rare to have an associate [take over]. Most often the owners want to liquidate their ownership. If you’re really positioning your agency for sale, that’s something that should be years in the making.”