Seeking advice

February 19, 2025
by a searcher from Cornell University in Schaumburg, IL, USA
I suppose I could use the search function but I'd like to make this more personalized. I met an older gentleman who is thinking about retiring in the relative near future. His "company" is him where he is involved in the acquisition and remarketing of used industrial machinery. He has lots of institutional knowledge and a built up network from over the years. I am very interested in getting into this type of business.
However, buying his "company" (i.e. his job), does not seem feasible or overly wise. My background is finance and I have built a software/mobile app to value damaged equipment for commercial insurance property claims so I have some tangential experience. My question is how can I somehow partner with this guy where he gets what he wants, an exit from his lifestyle company, while I get what I want, an entre into this niche, while trying to bring him some value. Any suggestions on a type of acq. structure or partnership agreement would be welcomed. Thanks.
from University of Illinois at Urbana in Chicago, IL, USA
from Cornell University in Schaumburg, IL, USA