Family Business Succession Case Study


A family business where the owner, the father, was running day-to-day operations and transferring ownership responsibilities to the children. They needed help finding a bank to help them purchase the company and the building.


The family lacked knowledge on how to take over or sell the business. Depending on the appraisal, they considered looking for a buyer but needed an overall business evaluation to make a decision. A business consultant well-versed in family succession could help educate and guide them.


Once goals were outlined, a plan developed around analyzing the current value of the business:

    • Created an advisory board within the family
    • Guided them through the due diligence process of preparing a business for sale
    • Organized production of employee handbooks, process documentation, budgets, and year-end financial packages
    • Assembled business evaluation packet for family, current owner, and bank to analyze maturity of the company



The children gained more clarity on the value of the business and moved forward with purchasing it from their father. The evaluation streamlined the appraisal process and helped them create a long-term succession plan for all parties involved. Where before it might have been sold, the business would now be kept in the family.


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