When Your Best Acquirer Is Already On The Payroll

Would you consider selling your business to an employee?

They’d probably fit the bill – good understanding of the business, passionate about your mission, and more likely to continue your legacy – but, they likely won’t have the cash to front such a large transaction either.

When Lori Moen decided to step back from her business, Viking Trophies, she sought out large, strategic acquirers — but nobody showed interest.  That’s when she looked internally and found her General Manager was interested in taking over.

In this episode, you’ll learn:

• The pros (and cons) of selling to an internal employee
• What to look for when structuring the financing (hint: you may need to lend some of the money)
• 3 different selling options – including the benefits of each
• The sneaky terms and conditions to look out for when selling your business to an employee