Business Transition to Second Generation
The owner of a highly profitable family owned agricultural B2B in the Pacific Northwest was looking to retire, quickly. The decision to sell to the next generation was made due to the current business environment making it difficult for buyers to obtain financing. The new company created by the children was able to buy the company from the owner under a tax advantage method that guaranteed the financial stability of the current owner’s retirement. Systems were created to facilitate the new company’s ability to continue to successful results of its predecessor.
- Current owner retired within a short period of time
- Current owner guaranteed financial stability in retirement
- New company had systems and structure in place to sustain its success
- Increased profit of 50% in the first year