It may strike many as counterintuitive, but when it comes to starting a new business you should already be thinking about your exit plan. Whether your hope is to one day pass your business on to a family member or simply make the most profit from selling it so you can enjoy a comfortable retirement, your business is a valuable asset that can work for you when you plan properly.
According to the Family Business Alliance, 80 to 90 percent of North American businesses are family enterprises, both large and small. But of that percentage, just over 30 percent survive into the second generation.
Looking to the future
Hoping that your business will fall into that 30 percent statistic? If you want to create a legacy plan but aren’t sure where to start, Spring-Green Lawn Care can help. As a franchise owner you receive many benefits, from the marketing assistance to the call center support, but one area that more potential franchise owners should consider more seriously is the assistance Spring-Green can offer them in terms of retirement preparation.
Marty Amundson, owner of Green Edge Lawn Services and Spring-Green Lawn Care in Rochester and Winona, Minnesota, was looking ahead to his future retirement when he first considered becoming a Spring-Green franchise owner.
“I knew that I wasn’t going to be able to work like this for the rest of my life so I wanted to look for additional options,” he explains. “My wife is very understanding and knew that the way I was doing things with my other business wasn’t going to last long term.” His goal was to spend more time with his family and focus on dealing with customers face to face, rather than doing the physical work of the lawn care. He knew that Spring-Green was the right choice to help him succeed today, while planning for tomorrow.
Are you prepared?
If retirement seems a long way off, fantastic! But the benefits of preparing for your future today are even greater. When you have a plan in place for your eventual exit from the business, you are less likely to be caught by surprise, and your business will reap the reward of continuity.
Not only does Spring-Green provide franchise owners with a proven business model and recurring revenue, but also the business model allows for the level of growth that permits a franchise to be passed on or resold. With a Spring-Green franchise you can grow your business today, so it’s profitable for the next generation, while still meeting your retirement needs.
Learn more about how Spring-Green can ensure your business’s legacy, while preparing you for retirement. Call 1-800-777-8608 or visit us at www.growmygreenindustrybusiness.com.