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Selling to Employees - Considerations and Best Practices

Welcome back to my weekly articles on business building. Understanding that the more prepared your business is for a sale, the more, and possibly better, the better the outcome. If you are considering selling your company to your employees then there are a number of things you will need to consider, along with some recommended best practices you would be wise to follow.

Most owners get one chance to get it right when they decide to sell, yet most owners cannot sell the business they built (only 1 in 10 are successful) because they did not build a sellable asset. If selling your business to fund your future lifestyle is necessary, ask yourself whether you are prepared or not, and then identify what you need to do to get to where you need to be.

With up to 76% of Canadian businesses reporting that they hope to exit in the next 10 years, being unprepared might cost you both your legacy and your retirement. With only 1 in 10 having a plan, the odds against are not in an owner’s favor.

Selling to Employees - Considerations and Best Practices
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