OVERLAND PARK, Kan. -- Heres a wake-up call for motorcoach company owners from business consultant William Chapman:

"You will leave your business. I guarantee you that you will leave your business -- at some point. Its a question of whether you plan for it or not."

Chapman, who heads his own consultancy, Chapman Advisory Group, based here, says planning for succession is of particular concern to the motorcoach industry.

Thats because more than 90 percent of independent motorcoach companies in the U.S. are family owned or controlled.

And succession planning can help ease the transition from one generation to the next, he says.

Statistics suggest that passing down family operations is difficult.

About 30 percent of first-generation family owners pass on their businesses to the second generation, while only 13 percent make it to the third generation, and fewer than 5 percent to the fourth.

Businesses leave family hands for a range of reasons, including family issues such as a lack of interest from second-generation family members in running the business, and financial issues such as the need for liquidity to fund an owners retirement.

But a smooth hand-off from one generation to the next can enable business owners to provide financial security for themselves and their families, plus sustain a business legacy for their employees, customers, vendors and their communities, says Chapman.

So why do business owners fail to plan successfully -- or at all?

Chapman believes many business owners put off planning for ownership transition and retirement because it falls outside their comfort zone.

"They are very comfortable making decisions about bus maintenance or employees or equipment purchase, but you get to succession planning and its an end-of-career moment. We defer those decisions because we dont want to think about it," he says.

"Oftentimes, its either a crisis situation or a family member or a close business associate who prompts it by saying: John, youve got to do something. Youve waited too long. Still, theres a big gap between the thought, Ive got to do something, and actually doing it."

One way some motorcoach company owners can close the gap and start taking action is to discuss succession planning in their 20 Groups, Chapman says.

Here are his other tips:

Start by deciding: "What am I going to do next?"

"I call it pro-tirement. What that means is to be successful a business owner has to retire to something, not from something. When we work for big corporations, we know were going to retire at 60 or 65. Its mandated and kind of expected.

"When you are a business owner, you never have to retire if you love your work.

"But, as the business owner makes the inevitable transition, especially if he believes the business is an extension of himself and hes very involved in the business, he has got to figure out what hes going to do.

"Do I want to play golf? Do I want a second home in Florida? What is it I want to do? What are my goals?"

Keep in mind that succession planning helps protect the value of your business.

"You work hard to create this value and at some point in time you want that value here for family or charity, and you dont want to see that diminish. If you dont plan succession well, the value of your business can actually diminish.

"If you become ill and you dont have the energy, the management team gets off track.

"This is continually thinking forward about your plans for your business. What is my long-term ownership strategy? How do I assure the continuity of the business into the future? Youre doing that to protect your wealth."

Start planning now if youre 55 or older.

"The optimum time to engage actively in succession planning is between the ages of 55 to 65, that 10-year window. Prior to 55, an owner is still thinking retirement is out there in the future. Their children arent old enough yet or havent worked in the business long enough yet to know whether theyre capable or even want to sustain the company and take over ownership. People who are in their late 30s, early 40s, their kids are going to be young.

"After 70, if they havent done any planning, the longer they work, the more entrenched they become."

Keep family members informed.

"What you should do is let key family members know your plans because they also have to plan. Part of the reason for that is when a company is in a period of transition, theres a much heightened level of anxiety within the employee group.

"You dont have to broadcast it broadly, but you let key family members know what your plans are."

Find a tactful way to broach the subject if you are a concerned second-generation family member.

"Oftentimes, these discussions are prompted by family members, and often younger family members think:" Its dads business, its not my right to tell him what to do.

"If dads not taking steps, I think you might say: I think its time to do some long-term planning.

"Particularly if youre working in the business, your future is also linked to the business, and wanting to know what the future plans are, I think thats a reasonable question to ask."