Survey of Closely Held Business Owners: The Exit Planning Process
RequiredRequired Question(s)

This survey is 23 questions. It should take no longer than 5-10 minutes to complete. 

 
Required 1.

Your Information: 


First Name:
Last Name:
Job Title:
Company Name:
Email Address:
emailaddress@xyz.com

2.

Your Age:

20-29
30-39
40-49
50-59
60-69
70-79
3.

Age of Company:

0-5
6-10
11-20
21-30
31-50
51+
4.

Industry:

Manufacturing
Wholesale/Distributor
Business Services
Real Estate
Technology
Healthcare
Finance
Automotive
Hospitality
Other  
5.

Last Year's Revenues (approx.): 

$0-1M
$2-5M
$6-10M
$11-20M
$21-50M
$51-100M
$101M+
6.

Full-Time Employees:

1-5
6-10
11-20
21-30
31-50
51-100
101+
7.

Type of Entity:

C Corp
S Corp
LLC
Partnership
Other  
8.

How is ownership distributed? 

 1-25% 26-50% 51-75% 76-100% NA 
Owner #1 (you)
Owner #2
Owner #3
Owner #4
Owner #5
  • Comment:

  • 500 characters left.
9.

Do you have a formal exit plan / strategy in place? 

Yes
No
10.

What is your intended exit strategy? (may select more than one response) 

Sale to a third party
Sale or transfer to family member(s)
Sale to management (management buyout)
Wind down business upon your retirement
Merge and stay
Merge and leave
IPO
ESOP
Other  
11.

Ideally, when would you like to exit your business? 

1 year
2-5 years
6-10 years
11-20 years
21+ years
Don't know
12.

How would you describe the attention you have given to your exit strategy up to this point?

Substantial
Moderate
Minimal
None
13.

Which of the following business-related activities do you consider to be important to your exit strategy? 

 Don't Know Not Important Important Critical  
Developing a written succession strategy  
Grooming internal successor(s)  
Hiring potential successor(s) to key management  
Discussing exit/succession strategies with family members who are not in the business  
Obtaining a business valuation  
Hiring a broker/investment banker to sell business  
Seeking financing for internal or external buyers  
Other (please list below)  
  • Comment:

  • 500 characters left.
14.

Which have you taken steps to complete? 

 Not Applicable Not Completed Begun or Completed but not-up-to-date Completed  
Developing a written succession strategy  
Grooming internal successor(s)  
Hiring potential successor(s) to key management  
Discussing exit/succession strategies with family members who are not in the business  
Obtaining a business valuation  
Hiring a broker/investment banker to sell business  
Seeking financing for internal or external buyers  
Other (please list below)  
  • Comment:

  • 500 characters left.
15.

Which of the following financial-related activities do you consider to be important to your exit strategy?

 Don't Know Not Important Important Critical  
Executing a buy-sell agreement  
Discussing career goals, financing strategies with potential successor(s)  
Implementing stock bonuses  
Making stock gifts  
Implementing an employee stock purchase plan  
Personal retirement planning  
Other (please list below)  
  • Comment:

  • 500 characters left.
16.

Which have you taken steps to complete?

 Not applicable Not Completed Begun, or Completed but not-up-to-date Completed  
Executing a buy-sell agreement  
Discussing career goals, financing strategies with potential successor(s)  
Implementing stock bonuses  
Making stock gifts  
Implementing an employee stock purchase plan  
Personal retirement planning  
Other (please list below)  
  • Comment:

  • 500 characters left.
17.

Which of the following are obstacles to your exit strategy?

 Not an Issue Somewhat of an Obstacle Significant Obstacle   
Lack of experienced/qualified management candidates internally   
Lack of financing for purchase by employees   
Current value of business won't meet owner(s) retirement goals   
Business has not yet reached full potential   
Potential conflicts among employees and/or family members   
Lack of qualified buyers   
Too busy running the business   
Don't know how to start   
Other (please list below)   
  • Comment:

  • 500 characters left.
18.
Are you saving or investing in assets outside of your business for retirement or future cash flow?
Yes
No
19.
If yes, do you have enough in these assets to maintain your current standard of living, if you no longer received income from your business?
Yes
No
20.
Compared to one year ago, how confident are you in your ability to meet your exit goals?
More Confident
Less Confident
Same
Don't Know
21.
If more confident, why do you feel this way?
Business is growing/stabilizing
Economy is better
Profitability is improving
Capital is more available
I am able to delegate more/others can handle duties I was responsible for
I am saving more outside of my business
Other  
22.
Compared to one year ago, how much interest are you seeing from buyers of businesses in your industry?
Increased
Decreased
Same
Don't Know
23.

How did you hear about this Report or Tax & Financial Group?

Referral from friend/colleague
Search Engine
Other
TFG Advisor (Please list advisor's name in comment section below)
Other  
  • Comment:

  • 500 characters left.

*** Securities and Investment Advisory Services offered through Securian Financial Services, Inc. Member FINRA/SIPC & A Registered Investment Advisor. TFG  is independently owned and operated. 1552852, DOFU 07/16.  Financial Advisors do not provide specific tax/legal advice.  This information should not be considered as specific tax/legal advice. You should consult your tax/legal advisor regarding your own specific tax/legal situation.