Strategic Ownership Transitions for Architecture and Engineering Firms
Proactive succession planning is vital to the long-term success of every design firm. We have hands-on experience structuring, negotiating, and documenting a wide variety of internal transition plans.
Our approach is collaborative. We listen to our client’s unique goals (both business and personal) and propose frameworks that allow our clients to achieve their goals while accounting for unique challenges, such as pre- and post-transition licensure compliance, financial feasibility, and first-time buyer risk aversion.
Preparing Design Professionals for Success
We also assist clients in the preparation stage by providing guidance on the following matters, all of which are vital to a successful internal ownership transition:
- Implementing emergency succession “hit-by-a-bus” plans;
- Updating corporate documents to account for post-transition ownership and control;
- Identifying and mentoring successors;
- Restrictive covenants, incentive compensation, benefits packages, and other recruitment and retention strategies;
- Analyzing multi-state licensure requirements and compliance strategies; and
- Facilitating introductions to industry-focused accountants and consultants.
Every firm’s transition is unique. Our depth of experience allows us to create succession plans tailored precisely to your goals, your timeline, and your firm’s culture.