Owner Transition

by a searcher from United States Military Academy

3 years ago

What are your thoughts on transition package with the existing owner?  Paid during the transition of the business period?  Should the owner be compensated? (Transition 6-18 months) Is there a normal period?

4 likes
208 views
5 comments

searcher from Harvard University - Harvard Business School

SBA loan only allows 12 months of consulting agreement.

3 years ago | like reply | 0 likes

searcher from University of Illinois at Urbana-Champaign

Totally depends....I like to keep the old owner with some skin in the game as far as the purchase price, whether earnout, note, or other. I think they should agree to some transition time, beyond which they can be compensated on an hourly basis.

3 years ago | like reply | 0 likes

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