HousingZone

A/E Firm Leaders: Plan for Ownership Transition Now

news release -- 6/29/2009 7:45:00 AM

Over the last year a growing number of architecture, engineering and environmental firm owners have been forced to sell at unfavorable terms or wind down operations due to a lack of a succession plan. As firm valuations plummeted in 2008 and early 2009, owners belonging to the baby-boom generation continued to approach their anticipated retirement age. Those without a strategic plan for ownership transition in place have been left with the difficult choice between working longer than originally planned, simply closing up shop, or selling at a price that’s far less than what they had hoped to receive upon retirement.

“Smart firm owners will learn a lesson from their unfortunate peers and establish an ownership transition plan well before they plan to leave their firm,” says John Doehring, ZweigWhite senior vice president and a consultant who specializes in strategic advisory services. “Even though they acknowledge the critical importance of ownership transition planning, many A/E firm owners avoid it as impossibly difficult. Or, they’re not emotionally ready to confront certain inevitabilities.

“I want these owners to know that there are manageable steps that can be taken — right now — to set up a strong foundation for ownership transition,” Doehring continues. “As firm owners get these foundational issues right, they’ll reap satisfying rewards both now and later — increased firm value leading to a more lucrative eventual transfer of their ownership stake.”

In his new white paper, Strategic Planning: Building a Strong Foundation for Ownership Transition, John Doehring discusses the strategies firm leaders can put in place today to ensure the most rewarding transfer of firm ownership. This free white paper is available for immediate download at http://www.zweigwhite.com/go/otplan/.

About ZweigWhite

ZweigWhite is the nation’s leading source of business management services for architecture, engineering, and environmental consulting firms. The ZweigWhite team consists of experts in strategic business planning, business valuation, ownership transition, human resources management, finance and administration, mergers and acquisitions, market research, marketing, project management and project delivery methods who collectively produce a comprehensive suite of products and services, including newsletters, industry reports, executive training, business conferences, and advisory services covering virtually every aspect of firm management. The firm is headquartered in Wayland, Mass., with additional offices in Chicago and Washington, D.C.

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