Luke Haggerty
Luke brings more than 10 years of experience as a public accounting professional, including 7 years with a national firm. He specializes in partnership and corporate income tax compliance, accounting for income taxes under ASC 740, and tax planning and compliance for business combinations.
His additional areas of expertise include working with high-net-worth families and individuals, multi-state filing for Subchapter C consolidated corporations, closely held companies, and international tax compliance. Luke also has experience with exit planning strategies and tax due diligence.
He provides a full range of income tax compliance and planning services to a diverse range of middle-market clients, with a primary focus on private-equity-owned enterprises. Luke works with both public and private companies across various industries, including real estate, retail, hospitality, technology, biotech and medical devices, and legal services. In his free time, Luke enjoys boating, fishing, attending church, and spending time outdoors with his wife and children. Professional Qualifications & Memberships American Institute of Certified Public Accountants (AICPA) – Member Florida Institute of Certified Public Accountants (FICPA) – Member
Education Jacksonville State University – Bachelor of Science in Accounting
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What Is the Business Owners Council?
The Business Owners Council (BOC) is a collaborative network of experienced financial, legal, tax, and business advisors focused on one outcome: helping business owners build value and exit on their terms.
Founded in 2008 and inspired by the principles of strategic exit planning, the BOC connects entrepreneurs with coordinated expertise designed to align business growth with personal financial goals.
We don’t just help you grow your company — we help ensure that growth translates into lasting wealth.
Not sure if this is for you? Use the form to request a consultation if it isn’t the right fit, we’ll point you to better resources.
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Planning the Last Chapter
Planning the Last Chapter: Why Business Exit and Succession Strategies Matter
For most entrepreneurs, starting and growing a business is an exhilarating journey. But one chapter often gets overlooked: how the story ends. Business exit and succession planning are among the most critical, yet least discussed, aspects of building a sustainable enterprise. Whether the exit comes from retirement, a sale, or an unexpected event, having a plan ensures that the years of hard work continue to create value for owners, employees, customers, and the next generation of leaders.
The Overlooked Side of Entrepreneurship
Studies show that a majority of small and medium-sized business owners do not have a formal succession plan in place. Many are focused on immediate growth, sales targets, or daily problem- solving, pushing “the end game” off the agenda. Unfortunately, leaving succession unaddressed can lead to forced sales at unfavorable prices, leadership voids, or even the collapse of family-owned businesses when the founder steps away.
What Succession Planning Really Means
Succession planning is not just about naming an heir—it’s about building a framework for long-term business continuity. It involves:
Leadership Transition: Identifying and preparing future leaders, whether internal staff, family members, or external hires.
Ownership Transfer: Structuring how ownership shares, voting rights, or equity will move from current owners to successors.
Cultural Continuity: Preserving the values, mission, and vision that define the company’s identity.
Financial Preparedness: Ensuring valuation, tax obligations, and funding arrangements are addressed in advance.
Exit Strategies: More Than One Way Out
Not all exits look alike—nor should they. Broadly, common approaches include:
Family Succession: Passing the business on to the next generation—ideal for family enterprises but often fraught with personal dynamics.
Management Buyout: Allowing existing leaders or employees to take over, ensuring continuity and rewarding loyalty.
Sale to an External Buyer: Attracting a strategic acquirer, competitor, or investor looking to expand.
Public Offering (IPO): Less common for smaller firms, but an option for ventures seeking maximum liquidity.
Liquidation: Closing operations in an orderly way when continuation is not feasible. Choosing the right exit path depends on the owner’s goals—whether they prioritize financial returns, legacy, or organizational stability.
The Human Factor
Succession isn’t just about legal documents and numbers. It’s also about people—the employees who rely on the business, the clients who trust it, and the community it serves. Open communication, mentoring future leaders, and aligning the next generation around the company’s purpose are as important as financial engineering.
Why Planning Early Pays Off
Exit and succession strategies are most effective when started years in advance. Early planning allows owners to:
Maximize company valuation by resolving inefficiencies.
Groom future leaders gradually rather than abruptly.
Anticipate and reduce tax burdens.
Avoid forced, rushed decisions during crises.
Conclusion: Leaving on Your Own Terms
Every business journey has a beginning, middle, and end. Owners who integrate succession and exit planning into their long-term strategy give themselves the gift of choice—how to step away gracefully, maximize the value of their life’s work, and ensure their business thrives beyond their tenure. In the end, exit planning isn’t about leaving—it’s about leaving well.
