Guides for shop owners · Massachusetts and Connecticut
My kids don't want to take over the family shop. What do I do?
It's more common than you think, and it's OK. The shop can still carry on, with a buyer who'll take care of it.
If this sounds like youYou always pictured handing the shop down. Your kids have other plans, and that's hard.
Your options
What you can do.
OPTION 1
Sell to a buyer who keeps the family name
Your legacy stays on the sign.
OPTION 2
Sell the business, keep the building in the family
Your kids get rent, not a job they don't want.
OPTION 3
Sell everything
A clean break and money for the next chapter.
Before you decide
What to watch for.
- Talk with your family about the building separately.
- Keep your team in the loop at the right time.
- Get a valuation before you decide.
How Lotus helps
Owner to owner, and it stays private.
Lotus is a family business too. We keep the shop running, keep the team, and can keep the name customers know. If your family wants to keep the building, we can talk about leasing it.
Talk to JamesQuestions
Quick answers.
Can my family keep the building after I sell the shop?
Yes. Many owners sell the business and lease the building to the buyer.
Will a buyer keep my shop's name?
Some do. Lotus often keeps the name customers trust.
Keep reading
Say hello
Thinking about what comes next for your shop or building?
Reach out and we’ll talk it through. No pressure, and the conversation stays private.
james@lotuspe.us