Consulting Rate for Owners after Transition Training

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by a searcher from University of Houston, Downtown
in Houston, TX, USA

2yrs ago

Consulting Rate for Owners after Transition Training

Hi Search funder community,

The business I am under LOI is heavy dependent on two owners. One responsible for the administrative tasks and the other on operations and outside sales. There's capital to hire a general manager to support me with the gap once business is acquired.

I've proposed a 2 month training at no cost under the LOI with an additional month to be paid with an hourly fee. Please share suggestions on how much this hourly rate should cost.

I am proposing a $35/hour
This business is in the residential home remodeling business

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reply by an investor 2yrs ago
from University of Puget Sound in Seattle, WA, USA

I'd echo James and Shaun, but would also focus on how much their staff/business is making. Here in Seattle $35/hr is close to an entry-level wage in a lot of construction fields (I saw a nearby McDonalds starting at $25/hr recently). We acquired a small bolt-on two years ago where we paid someone $40/hr for about 6 months (40-hour weeks), but his business was only doing $150k SDE/yr. I'm sure someone used to running a $1mil EBITDA would need much more compensation to stay interested.

reply by a searcher 2yrs ago
from Purdue University in Indiana, USA

You need the seller to be motivated/obligated/incentivized to help out after the sell. I don't think $35/hour would create much of a sense of obligation.