Thinking about succession planning?

Hey guys. I’m Jules, I’m a former mechanical engineer. After meeting a variety of owners of manufacturing businesses, I noticed that a lot of their kids don’t want to operate their family’s manufacturing operations and instead want to be doctors, lawyers, or software developers. Many of the owners I talked to feel that their only option for a fair succession is to find a broker to sell their business to a large corporation or competitor.

I was wondering if you could offer any insight into what you all would want out of a succession plan? I know succession planning can be a private issue so feel free to reach out to me at ManufacturingSuccession.com to talk a bit more about it privately.