Considerations On Business Transition Planning

Transition planning can be intimidating and sometimes overwhelming, in many cases, it is a family business that has been built from the ground up and it can be hard to see the forest through the trees.

We have assembled a complementary team of advisors to ensure that all aspects of a transition plan are covered, not only for the business, but your personal retirement goals and addressing any concerns you or your family may have regarding changes to the business.

Making a Good Transition Plan

A good transition plan will help your business transition smoothly to the new owner, so by planning your exit early, you can maximise the value of your business and help it meet its future needs. It is never too early to plan!

Define Your Goals

Start by clearly defining your goals, objectives and timeframes, once you know this you will identify your priorities as it will impact future decisions.

Consider Staying or Retiring

Next, consider if you want to stay in the business? Do you want to exit straight away? Are you ready to retire fully? Most people will not hesitate and say yes, but really think about what you will do when you are not working those long 12 hour days….

Update Your Financial Information

Make sure your financial information is up to date, this won’t be a problem if you are already an Advivo client 😉 Now you have the first 3 steps covered, you can initiate the easy part by engaging our team, comprised of accountants, professional advisers and lawyers to guide you through the complex process, a small investment in advice at the outset will make the process much smoother.

Other Things To Consider

There is a lot to consider and to give you some guidance and just some of the services we would provide we have listed them below:

  • Valuation
  • Presentation for Sale
  • Due Diligence Package or Investigations
  • Risk Analysis
  • Financial Modelling
  • Strategy
  • Timing for any Transaction
  • Developing and implementing a Business Succession Plan
  • Business and Asset Valuation – Assisting with deregistration of redundant entities
  • Restructuring to achieve optimal taxation concessions in business succession
  • Ensuring the Business Owners have a clear and fulfilling Retirement Plan

So to close, if you own a business and are considering a transition to a family member or sale to a 3rd party, think about all the areas that are critical for the success of your business. Now think about your team. Can they take over? If not, you know where you need to focus. Spend your time and resources here rather than the mechanics of the transition, leave that to us. Once your team is ready to take over, then shift your focus to the deal.

If you need assistance or have enquiries about transition planning, please don’t hesitate to get in touch with us today.




Need help in business transition planning?

The experienced team at Advivo can assist you in planning your transition when selling your business in Brisbane. Contact us today at 07 3226 1800 or email us at for more details.