Chapter 29: Exit strategies

After establishing a successful design firm and managing it profitably for a number of years, you may begin to think about moving on to the next step in your career or to the next big thing in your life. This chapter discusses a number of exit strategies for owners and describes the overall process of valuing and selling a design firm.

If you own a design studio, there are three primary ways for you to eventually leave the business. The first and most unfortunate way would be to die in the saddle. By that I mean, don’t do any planning at all and just work until you drop. If you were to die suddenly, you would leave quite a tangle for your heirs. Chances are they’re not designers and have not been involved in the business. ...

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