John Robinson recently traveled to Las Vegas to further his education with the Exit Planning Institute (EPI).
Last month, EPI brought together over 100 business owners to participate in a series of informative seminars and open discussions. Following the event, every business owner at the 2016 Southern Nevada Owners Forum was distributed a non-anonymous survey to disclose their business profile data and indicate their needs. I’d like to share some of the interesting demographics and percentages with you:
- All of the survey respondents indicated that their company was privately-held—of that total: 22% of attendees were the Founder of their business and 50% of companies have existed for more than 20 years.
- The majority of businesses represented recorded annual sales between 1 and 10 million—though there were some outliers at 100 million+.
- 51% indicated that they were at a stage in their venture where they were interested in "value growth."
- 67% indicated they would transition their business in less than five years.
- The majority of business owners checked the following boxes for "areas they would like assistance": Strategic Plan Development; Transition & Succession Planning; New Marketing Strategies; and M&A / Sale / Exit Strategies.
- 100% of attendees would "highly recommend the Owners Forum" to other business owners and professionals.
Many thanks Scott and the EPI team for sharing these intriguing statistics with us. I hope you found this information to be of value as well.
If you're a business owner who is considering exiting your business, contact John Robinson today!