BluePrints For Business



Family Business Succession Planning;

Planning A Blueprint For The Next Generation

Family-owned businesses make a huge contribution to our economy. And, just as important, your business will contribute to your family’s financial future and your retirement. But, without a strong succession plan, your business could become an unwelcome statistic. In fact, the survival rate of businesses into the second generation and beyond is discouraging – unless you take steps now to ensure that it’s set up to provide for the future.

• 30% survive into the second generation
• 12% survive into the third generation
• 3% survive into the fourth generation or beyond

However, for those businesses that plan, the success rate is much higher – and, the further ahead planning takes place, the better the chances for the business to survive.

Years Planned Ahead
Success Rate
2 or less

two generations of farmersWith all our clients we stress the importance of having a strategic plan. Typically, a strategic business plan covers all areas of the business. It provides the blueprint for everything the business does. Succession planning is no different. Developing a plan, along with a timeline for when each step will occur, provides a guide for how the business will be passed from one generation to the next.

BluePrints for Business will work with your financial planner to go beyond an analysis of your company’s finances and market valuation. We’ll help you refine your exit strategy by examining the really tough issues:

•  Do all family members really want to share in the business’ management – and should they?
•  Who is best qualified to fill specific management roles?
•  What is the most equitable distribution of assets?
•  How can I maximize my business’ value?

family of floral farmersOnce we determine how the business and family members fit into the owner’s exit strategy, we can look at markets and recommend ways to create the assets that will provide for future generations. This may involve finding an immediate buyer or growing through strategic mergers and acquisitions to create the entity to achieve your desired outcome. Either way, we have access to a variety of financial markets to back your effort and lead you to success.

You can learn more about our family business succession planning process through our Blog.

If you or one of your clients has the endgame in sight, contact us for a no obligation consultation – or, to attend one of our planning seminars.