Buying from non-retiring sellers

October 03, 2024

by a searcher from University College London, University of London in London, UK

Hi all - does anyone have experience buying a business from a young-ish seller (eg 40s) who wants to stay in the business and continue working indefinitely post sale?

If so how did it go and any specific tips to maximise the chances of making such a transaction successful?

TIA!

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Reply by a searcher
from Northwestern University in Newtown, PA 18940, USA

I was acquiring from 3 sellers. Two were planning to retired. Third got squeamish about the noncompete / non-solicitation and blew up the deal just prior to close. My advice, make sure the seller understands what the transaction noncompete / non-solicitation will look like (not just the one as an employee) way in advance. For people that still want to work it can be a very difficult mental hurdle.

Reply by a professional
from University of Southern California in North Palm Beach, FL, USA

Yes, one of my UK clients did it. Schedule a Zoom with me and I'll provide background and some details.

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