Managing Your Business Lifecycle
A lifecycle is a series of stages a business transitions through during its lifetime. SAS helps clients navigate through each stage and can begin working with a new client in whatever stage of the lifecycle they are in. Businesses often outgrow their current accounting CPA firm as they evolve. They need to address more complex decisions requiring strategic support and direction their current firm cannot provide.
What Stage Are You In?
Franchise businesses are different than other privately held businesses. They need to adhere to the rules of the franchisor, which is different than the architect or law firm or hot dog stand down the street.
There are four core stages to a business lifecycle:
- Emerging. Many companies cannot get past this stage. Our franchise experience can provide the advice and structure needed for this phase of the lifecycle.
- Growth. This stage may last for decades. No organization stops trying to grow, but once a company has expanded to a certain point, they often transcend to the Mature stage.
- Mature. These are stable, profitable companies. This stage may continue for a long time, but eventually, a business hits a point where they need to sell or transition to the next generation.
- Transition. This is either a sale to a third party or a family succession. Either step requires time to prepare, tax planning, assistance refining financials to make the business appear as profitable as possible, and assistance helping ownership emotionally prepare for the transition.
Transitioning Through Lifecycle Stages
We can help you no matter what stage you are in. This may be advice and collaboration to help you grow or strategy and planning to build value, retain wealth, and transfer wealth to your family.