Where you are today as a business owner is the result of your passion for the business you’ve built—and a lifetime of work. But what is your vision for life after you walk away from your business? What you do next is critical for you and your family. It’s a time when you need to shift your focus to personal fulfillment, wealth planning and more.
You. Your family. Your employees.
Your business goes to the heart of who you are and what you do. Even for family members, your decision to sell your business represents a significant change in wealth and status. Communicating with those who could benefit the most may be important to a successful plan. Many owners assure employees that a sale will have no practical impact on them. However, once the sale has gone through and you are no longer involved in the decisions, it can be hard to know. This all may lead to tension and uncertainty, which can have an emotional impact on you.
Here's what we, at UBS, have heard from business owners:
"It’s sad and hard when you sell because you’ve not only invested time and money, but also a bit of your soul."
"A part of me was delighted but another part of me was sad. The office was like a second home."