April 20, 2020

Six Generation Family Business Are Rare – Why This One Bites the Dust

How forty years of hard work all went down the drain when the business was sold with seller financing. After the business sale closed there was an equipment failure which allowed the buyer to stop making payments on the promissory note that seller had financed.

A lifestyle business that had been around for more than 30 years and was one of the most well known in the area disappears because the owner didn’t plan a head which destroyed his opportunity for survival.

A company that lost nearly half of its business because of a hasty decision by the owner. The owner was able to pivot and quickly recover from the loss of the sales revenue and turned it into the best thing that could have happened.

A business that has been around since Abraham Lincoln was president finally stumbled and had to be sold before it when out of business after six generations for reasons that were totally avoidable.

Gregg Kunz
Rocky Mountain Business Advisors, Inc.
Denver, Colorado
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Podcast: Play in new window | Download (Duration: 49:51 — 45.6MB)