Many baby boomer roofing contractors intuitively understand they need to plan for the exit but are consumed with the day-to-day grind and procrastinate.

A business owner cannot replace themselves (succession) until they can clearly envision their financial future (exit plan).

Kevin Kennedy and Joe Bazzano's first book, The Contractor's 60 Minute Exit Plan, is a 82-page book offers a guide for roofing contractors to navigate the scary and sometimes treacherous process of exiting their business when the time is right.

Family business consultants and research estimates that 30 percent of businesses make it to a second generation, and only 12 percent to a third.

Most company owners have never exited a business and are unaware that the odds are against them.

This article will review some of the tax reform bill’s provisions as they relate to business owners in the roofing industry, and provide some guidance on changes that may be appropriate for the exiting owner.

Leaving any business that you've spent a career building can be a challenge.

Following the sudden death of her husband, Dave Spencer, Laurie made the decision to leave behind a successful career as a salon owner, and take over Dave's roofing business.

A benchmark company will have a written strategic succession plan.

The entire process of exit planning can get bogged down with the technical jargon of accounting, law, tax codes, estate planning, insurance and financial planning.