Coming towards the end of your time in business is a big milestone. You’ve put in the hours, the money and the hard work, now it’s time to plan for what comes next - retirement and reaping the rewards!
How you exit or transition from your business can make a huge difference to the life you want to lead. Sometimes it’s forced by illness, but if it’s not, your options include selling, stepping away or passing it down to family.
If you’ve failed to plan, you’ve planned to fail, and, for this huge step, you need to start planning three, if not five, years ahead. We’re here to guide you through the process, helping you get the best possible return when you exit or transition your business.
We don’t just handle the numbers. We support you in preparing your business for exit, with smart planning, sharp thinking, no-BS advice and clear next steps.
Mapping a plan together to set your business up for the best possible ultimate outcome.
Preparing for planned and unplanned exit to minimise the risks and boost the rewards.
Ensuring your wishes are carried out – from wills to power of attorney to enduring guardianship
Working out how much your business is worth now, and forecasting when it’s time to sell or exit.
Getting you ready for both sides of retirement: your finances and your mindset.
Crunching your business’s capital gains tax to help uncover smart ways to reduce it.
Setting up your business so you can sell to your employees efficiently and effectively.
We’ve supported hundreds of clients as they’ve grown and prepared their business for exit - but don’t just take our word for it.
Our experts bring specialist expertise, local knowledge and networks, genuine care – and a little banter – to your table. You get a core team – director, manager, accountant and client service coordinator – all helping you guide your business to its next era.
See how we’ve supported business owners like you through the final stages in business – and the fantastic results they’ve achieved.
“Initially we just thought accounting was compliance. It wasn’t until Maxim that we found out there was so much more to running a business – the business advisory, strategic planning and things like that. We honestly feel Diesel Pro wouldn’t be what it is today without their advice and the trust we built with them.
Succession planning wasn’t on our radar at first, but Maxim guided us every step of the way. Their strategic plans created wealth in the business and set us up for a smooth succession. The Diesel Pro legacy will continue. We’re in great hands with Maxim on our side.”
Bob Carter + Darren Threadgate
Former Owners
Every business is unique, but we hear the same questions over and over at this stage. Here are some that come up often, with our answers.
Valuing your business as part of business owner succession planning comes down to looking at the profits you can reasonably expect to maintain (your anticipated future profits) and the risks in your industry.
Start by checking your profitability and then adjust for any expenses a new owner wouldn’t need to cover. This gives you an adjusted profit, which helps determine your business’s goodwill.
Next, add in tangible and intangible assets – bank balances, debtors, vehicles, equipment, intellectual property or brand value – and subtract any liabilities the new owner would take on, like creditors or employee leave entitlements.
The result? A fair value price that reflects both the tangible and intangible worth of your business – and we can help guide you through the company valuation process to make sure you get it right.
The best way to boost your business’s future value is to focus on its ability to keep making money – its future maintainable profit. Ideally, you do this over a number of years before selling.
You also want to make sure your business isn’t overly dependent on you or any other key individuals. That means operations can run smoothly when you step back, and clients stay loyal even after you leave.
Finally, reducing risk wherever possible makes your business a more attractive investment. We can help you identify the right steps to strengthen your corporate valuation and sale value and prepare for a successful exit.
Selling your business can trigger capital gains tax (CGT) on any profit gain you make, but there are ways to reduce the hit.
One approach is restructuring your business now to set up for lower capital gains later. You can also review where the capital gains will sit – the right entity can make a difference.
Timing is another tool: planning when to sell your business can help manage your tax outcome. We can guide you through these options to make sure you keep more of what you’ve built.
Some exits you don’t want to rely on include walking away, gifting your business, or being forced to exit by an unexpected event. The most effective option is usually a sale.
This could take several forms: an outright sale, a merge with payments over time, a partial sale, or a sale with vendor finance attached. Ideally, you sell to someone who sees real value in your business – family members, competitors, suppliers or employees. We can guide you through the options to find the right path for your situation.
It’s tempting to think exit planning only matters when a sale is imminent. The truth? To cover all your bases and get the best return on your hard work, start planning at least three – ideally five – years before you actually sell. We can help you map out the right steps well ahead of time.
On the financial side, think about what you’ll get from your business, how you’ll receive it, and what obligations come with it. Then, picture how it fits into your retirement plans and the lifestyle you actually want.
Mentally, make sure you’ve got plans to keep busy. Whether that’s charity work, new ventures, or finally embracing the grandparent life – so you don’t lose your sense of purpose (or your sanity!). We can help you plan both sides of retirement so it’s a secure, smooth transition.
Start by adding up all your assets and liabilities in your name – from your home and business to life insurance and prized possessions. Don’t forget to factor in any costs tied to selling them, like capital gains or selling fees.
While technically not part of your estate, superannuation and trusts still matter. Make sure plans are in place so these assets end up exactly where you want them – no surprises or awkward family debates! We can guide you through it all to get a clear picture of your estate.
It’s worth thinking ahead about what happens to your estate when you’re gone. That includes making sure asset transfers are smooth and that your estate isn’t hit with unnecessary tax.
A common approach is using testamentary trusts, which – when structured correctly – can give your beneficiaries both asset protection and potential tax savings. We can help you set it up so your loved ones get the most benefit, without the headaches.
Yes! Having a trusted advisor by your side makes all the difference during succession and retirement planning. We bring fresh perspectives and experience, challenge your thinking, and guide you through every part of succession – from strategic planning and business valuation, to retirement preparation, estate planning, and selling to employees – your future leaders. With regular guidance, you get clarity, confidence, and conviction, so your exit or transition is smooth and well-planned, without going it alone.
Check out our latest blogs. They’ll help you stay informed, tackle challenges and get clarity during your succession stage.
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