A Transition Team is a Revenue Center Not a Cost!
Preparing to sell your business? Theodore “Ted” Offit, co-founder of Offit Kurman, says to surround yourself with a great team internally and externally to level the playing field against professional buyers. There is allot of money in the market place fueling growth by acquisition from professional buyers. Because owner managers and CEO’s of mid market businesses may go through one or (at most) two ownership transactions in their lifetime, a team of professional advisers is required to level the playing field. The cost to assemble a great internal and external team including a Board of Directors should be viewed as a value driver when a selling price of a business is expressed in terms of a multiple of earnings. “Preparing Your Business for Transition: The Playbook for Maximizing Your Liquidity” was held in the Baltimore Ravens locker room at M&T Bank Stadium on April 23rd, 2015. Click here to learn about the event. For more information about selling a business and other legal topics, visit www.offitkurman.com. To contact Ted Offit, email email@example.com, or call our Maple Lawn, MD office at 301.575.0304.
ABOUT TED OFFIT
Ted Offit is a business lawyer, co-founder and Managing Principal of Offit Kurman Attorneys at Law. He serves as general counsel to a significant list of privately held organizations and often serves in an advisory capacity to the board of directors of the firm’s entrepreneurial clientele. He often serves as special counsel to businesses seeking to implement succession plans through a sale (merger and acquisition) or through transfers to affiliates (family members and employees). Mr. Offit also often serves as special counsel regarding the design and implementation of compensation plans for executive level staff. He can be reached at firstname.lastname@example.org or by calling 301.575.0304.
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