Succession Planning Services

Guarantee your retirement & ensure long-term stability in your business

Guarantee your retirement & ensure long-term stability in your business

Our succession planning services are designed to help business owners plan for the eventual transfer of leadership and ownership. This ensures business continuity and stability following their retirement or semi-retirement.

In our experience, an effective plan will maximise the value in your business as you transition away from the day-to-day operations. The better the plan, the smoother your transition to retirement will be. Our succession planning services typically take 1 to 5 years to execute, and focus on ensuring your business reduces continuity risks, has a structured transition plan, retains top employee talent, and enhances operational performance.

Studies have shown that having an effective succession plan in place will provide business owners with a greater sense of security and peace of mind as they transition into retirement, while also increasing the likelihood of long-term success for the business. 

Businesses who avail our succession planning services are more likely to:

  • Have a more positive future outlook
  • Retain high-performing staff
  • Have higher sales and profit growth during transition
  • Achieve the business owner’s retirement goals

Most business owners have thought about retirement at some point in their lives, and may have already identified a potential business successor when the time comes to step away. However, they usually lack the time and expertise to adequately undertake succession planning, which can put the timing and success of their exit at risk.

Groves & Partners has significant experience and expertise in working with business owners and their professional advisors to provide business valuation and transaction services. Our team consists of Chartered Accountants, Registered Business Valuers and Registered Business Brokers with specialist skills. Through providing these services, we have a broad range of experience in being able to analyse business operations, and understand the factors that impact planning. We have a strong track record of assisting clients in the planning, structuring, valuation and negotiation of succession.

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Our Succession Planning Process

We look at your business independently by analysing its key characteristics, success factors and value drivers, which require continuity to ensure long-term success. Every business is different, and there is no one-size-fits-all succession planning template.

This is why our succession planning services take into account the unique needs and goals of the business and its stakeholders.

Our typical process is outlined below:

1. Initial consultation & information gathering

Our initial phase of work allows us to gain a better understanding of the business, the business assets which drive success in the company, the retirement objectives of the business owners, and the timing for eventual business succession. We start this process by facilitating an initial consultation and information gathering session with the business owners.

2. Identify potential successors

We review the current operational structure, and develop an optimal long-term structure for the business post-retirement. We also analyse the skills inside your business to identify talent gaps, and assist you in attracting successors from outside the business where appropriate.

3. Valuation

We review the business in its current form, and provide you with insights into what your business is worth, and the likely risks to this valuation if you were to retire today. This step is significant because it allows for the planning of contingencies to mitigate the potential risks the business faces upon your retirement.

4. Structuring the succession plan

We provide recommendations on the optimal organisational structure, timing of succession, key employee retention, remuneration, debt/equity financing, and share transfer techniques. We also work closely with your tax advisors in developing an ownership transfer structure that maximises tax outcomes.

5. Execution

We assist you in drafting and executing documents such as term sheets, employment agreements, and shareholder agreements. We also assist with financing arrangements and effecting share transfers.




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Here are the most commonly asked questions in relation to our succession planning services. Feel free to contact us to ask your own questions or for us to elaborate on our answers below.

When is the best time to start thinking about succession planning?

Most business owners typically have a 3-to-5-year horizon to fully exit their business. However, every business owner is different. In our initial consultation, we will discuss the exit timing objectives of the business owners, and develop our succession plan around those timelines. The minimum timeline we suggest starting a succession plan is 12 to 24 months prior to exit. This allows sufficient time for business operations and ownership to transition, and strategic outcomes to be measured.

What are some common challenges with succession planning, and how can they be addressed?

Some of the most common challenges that arise throughout the course of our succession planning services relate to business valuation, buyout funding, and tax implications. To address these challenges, we work closely with each business owner to develop a comprehensive succession plan that takes into account their personal and business goals, financial situation, and tax considerations.

Does your company’s succession planning strategy include a training program for incoming leaders to ensure they are prepared to lead the business to success?

Training new leaders is crucial because it ensures that the incoming leaders have the necessary skills, knowledge, and experience to lead the company effectively. In general, an effective succession planning strategy should include a training program to prepare new leaders to take over and lead the business to success. This training program should be customised to the specific needs of the organisation, and cover a range of topics, such as the company’s culture, policies, and procedures, as well as leadership and decision-making skills. Part of our strategy is to put this in place to ensure a smooth transition of leadership, and to equip the new leaders with the necessary tools to succeed in their new roles. Overall, a comprehensive training program is an important component of a successful succession planning strategy.

What expertise is provided?

Your engagement will be managed by a senior member of the Groves & Partners team. We are a firm of experienced and professional advisors including Chartered Accountants, Registered Business Valuers and Registered Business Brokers. Our team consists of experts with a diverse range of industry and service delivery experience, many of whom have previously worked with the world’s largest accounting and consulting firms, such as Deloitte, EY and PwC.

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