Exit Strategies and Succession Planning

Staff writer Paul Hodowanic chats with Ratchet+Wrench columnist and industry coach Joe Marconi about the recent sale of his business. Marconi opens up about the evolving nature of his exit plan and discusses every angle of how to go about it whether you're selling to an outside buyer or passing it down to a longtime employee or family member. 

Whether you've owned your shop for one year or 50 years, Marconi says every business needs an exit strategy and he shares tips on how to create one.