Buying from non-retiring sellers

by a searcher from University College London, University of London

4 months ago

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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3 comments

searcher from State University of New York Maritime College

Alexi- did you make any progress? Curious how this turned out.

4 weeks ago | like reply | 0 likes

searcher from Northwestern University - Kellogg School of Management

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.

4 months ago | like reply | 1 like

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