Attorney Amy Kluesner discusses business exit strategies and legal considerations for small business owners.Key Takeaways – Exit planning should start early, with clear goals and end vision in mind – Patient, humble approach and having documents/financials in order smooths exit process – Customer relationships and recurring revenue are key drivers of business value – Legal counsel early on can prevent costly issues later, even for small businessesTopicsAmy Kluesner’s Background – A practicing attorney with 14 years’ experience, and currently at Barnes & Thornburg, LLP – Specializes in mergers & acquisitions, especially for healthcare companies – Has handled hundreds of deals ranging from $200k to $1B+ – Now focuses on helping small business owners with legal needsExit Timeline and Process – Typical timeline: 5-10 years from business start to exit – Process involves finding buyer (financial or strategic), valuation, due diligence – Patient, humble approach needed as process can be emotional for sellers – Having clear post-exit plans helps motivation during challenging partsIncreasing Business Value for Exit – Recurring customer relationships are most valuable asset – Strong reputation and loyal customer base attractive to buyers – Clear financials and organized documents streamline due diligence – Aligned team/management important as buyers may want them to stay onLegal Considerations – Partnership/operating agreements critical, even for small businesses – Buy-sell agreements protect against partner death/exit scenarios – Basic agreements for 2-partner LLC typically under $5k – Legal counsel provides peace of mind and risk mitigationBillion Dollar Deal Insights – More complex but core process similar to smaller deals – May involve anti-trust filings if reducing market competition – Public company deals require additional shareholder disclosuresNext Steps – Consider engaging legal counsel early to establish key agreements – Focus on building recurring customer relationships to increase value – Develop clear post-exit vision to stay motivated during exit process – Be patient and humble, leveraging expertise of advisors during exitAre you a seasonal business owner who’s struggling to make ends meet during the winter months? Do you hate losing great staff when the weather turns cold because you don’t have enough work to keep them employed year-round?You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.comWould you consider yourself a corporate refugee or portfolio investor looking to get into business ownership in the emerging market of outdoor lighting? Would you be interested in an award-winning system focused on permanent holiday lights, landscape lighting, and temporary Christmas lights? Did you know that you can do outdoor lighting all year long? You could be a perfect fit for a Lighting Pros Franchise location! Learn more about Lighting Pros Franchise here: https://lightingprosfranchise.comInterested in having Matthew speak at your upcoming Event? Go here: https://matthewefird.com