Family business

by a searcher

2 months ago

Does anyone have experience buying a family business (a business in your family)? If so, would you do it again / recommend not doing it? Did family dynamics change post-close? How did you proceed through negotiations?

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professional from University of Virginia

I’ve closely advised on several - it’s a virtual certainty that, even more than is always to some extent the case, non-textbook financial & emotional considerations will lurk. I’d say the degree of difficulty probably has as much variety as there are different kinds of families. Anecdotally, in my own work, I’ve found acquisitions within the family (that weren’t explicitly contemplated in advance - and Lord knows, bless those family businesses that do comprehensive buy-sells & keep them current) tougher sledding - in terms of reaching agreement - than an outside purchaser. Certainly some best practices that I think should always be employed.

2 months ago | like reply | 0 likes

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