This article is intended for small business owners who may be considering an exit within the next 3-10 years.

Although there are many variations, there are really only a few realistic exit strategies for most business owners. Most strategies only make sense for certain classes of business, so for any given business, even fewer options are viable. Here we review these basic options, which types of businesses they work for, and outline the pros and cons of each.

Types of Exit Strategies for Small Business Owners

Shut It Down

Advantages:

• Fast, easier than finding a seller

Disadvantages

• Failure to sell the business means no revenue from sale
• Loss of brand value, reduced sale value in the future