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- Process for buyers and future farmers
- Step 6 - Exit strategy for the current owner
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Step 6 - Exit strategy for the current owner
It is now time for a progressive takeover of the business. This step is usually carried out in phases.
Objectives and actions
If the owner-manager is financially independent, he or she will very likely develop a second life plan. He or she will have to decide between a progressive or quick exit strategy.
The usual exit strategy phases are:
- being open to the new owner's ideas
- sharing responsibilities and being available for consultation
- sharing decision-making authority
- taking on a new role in the business: becoming a consultant, sharing experiences, giving advice
- completing the exit strategy
To learn more, see the following sections of the guide:
- Exit of the current owner - Business successors (PDF, 40 KB)
- Exit of the current owner - Farm successors (PDF, 37 KB)
The next step
See Useful links.