Family Business Transfer

Transcript

Andy and Jessica bring a very touchy subject to this episode, which is family transfers. Most small businesses are operated by families and a recurrent concern is if a business should or shouldn’t be transferred to the upcoming generation.

Transworld Business Advisors have been helping businesses going through these transitions among families that own and operate businesses, being an intermediary and assisting all parties to do the best for the business and for those involved.

Andy and Jessica are bringing the experts to talk about different cases of family businesses transfers:

Aaron Fox, who is now also the owner of Transworld North Boston, talks about the multigenerational business that he had along with his father, where he worked for several years before selling it.

Peter Berg talks about a famous family transfer for Transworld Business Advisors, where there were multiple family members involved and a huge concern about how to split the assets.

Michael Ziff shares his experience in a very large family business in the shoe industry in England that ran for three generations.

Listing of the week: Melissa Patel (DC Metro). Optometric practice, in business for 16 years. Opportunity for buyers looking for an acquisition. Price: $270,000. SDE: $125,000. Yearly Sales: $275,000. Call Melissa at 202-800-4060 or email [email protected].

Key Takeaways

Key takeaways:
[10:29] Aaron Fox talks about his story in a 110-year-old family business.
[14:04] Is the next generation the right fit for the business?
[15:04] Everything is easier when there is a business broker assisting the business transfer.
[17:37] Deal of the week: Peter Berg (Fort Lauderdale). Large transaction that was done 10 years ago. The business had been run for 40 years by a couple who had four grown children; one was the president of the company and the other were executives. Parents put the business for sale without their children knowing.
[27:55] Michael Ziff talks about his very large family business in the UK.
[36:23] Deciding it was time for a change in a three-generation business.
[40:52] Listing of the week: Melissa Patel (DC Metro). Optometric practice, in business for 16 years. Opportunity for buyers looking for an acquisition. Price: $270,000. SDE: $125,000. Yearly Sales: $275,000.

Mentioned in this Episode:
The Deal Board Podcast
United Franchise Group
Transworld Business Advisors
Transworld on Linkedin
Transworld on Facebook
Call us — 888-711-9018
Email us [email protected]
Call Aaron Fox at 781-773-8922
Email Peter Berg at [email protected]
Email Michael Ziff at [email protected]
Call Melissa Patel at 202-800-4060 or email [email protected]

Mentioned in This Episode

• The Deal Board Podcast
• Transworld Business Advisors
• United Franchise Group
• Transworld on Facebook
• Transworld on Facebook