Small business exit with Ron Chernak, a business owner, attorney, CPA, real estate broker and owner of The FBB Group – a business brokerage based in Colorado. Ron shares valuable tips and advice to help you prepare to exit (sell, transfer, transition, etc.) your small business.

Prior to founding The FBB Group, Ltd., Ron practiced law with a 175-member law firm in Chicago. He has a CPA Certificate (Illinois), is a licensed Colorado Real Estate Broker, is licensed to practice law in Colorado, and has a FINRA Series 79 license. Ron is also a Certified Business Intermediary (CBI) and a Merger & Acquisition Master Intermediary (M&AMI), the highest level of accreditation in the industry.

Ron has extensive experience in contract and lease negotiations, financial planning, and financing. He is very active in community activities, such as the Colorado Springs Chamber of Commerce (former Chairman of the Board), The Southern Colorado Economic Forum (Founding Sponsor), and the Rotary Club.

Ron has served as the Chairman and/or Director of the Board for numerous business brokerage committees and organizations, including Chairman of the International Business Brokerage Association (IBBA), a premier industry trade association and Chairman of the M&A Source, the country’s largest association of middle-market intermediaries.

Small business owners should consider the eventual exit from their small business. One way or another, we will all eventually exit our businesses – ideally by choice, but perhaps due to unplanned circumstances such as death, disability, divorce or partnership disputes. For many business owners, selling a successful business may be an ideal exit option. Ideally, you build your business such that you may eventually be able to realize the financial rewards of selling it. On this episode, Ron Chernak shares his insights on how to successfully exit a business through a sale.

Deciding to sell your business is a complex decision and, most likely, one of the biggest financial events in your life. To get maximum value for your small business, it’s critical that you have professional representation and know how to properly position your business for sale to maximize its value and mitigate taxes.

Resources:

Other Podcast Episodes:

Episode 412: Mike Finger – Is Your Business Sellable?

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