My spouse ran the shop and passed away. What do I do with it?
You don't have to decide everything this week. The first job is keeping the doors open and the team steady. Then you can take time to decide whether to keep the shop, hand it to someone or sell it.
If this sounds like youYou're grieving, and now you're also responsible for a shop you never ran. The techs are asking questions and you don't have answers yet.
What you can do.
Keep it running with a manager
Gives you time, if there's someone the team trusts.
Sell the shop to a buyer who keeps it open
The team keeps their jobs and the name carries on.
Sell the shop, keep the building
Rent can support your family going forward.
Close the shop
Usually the last choice, because it leaves value behind.
What to watch for.
- Talk with an estate lawyer about who can make decisions for the shop.
- Keep paying the team and the bills so the shop holds its value.
- Don't sign anything with a buyer until your lawyer has looked at it.
Owner to owner, and it stays private.
We're sorry for your loss. Lotus buys running shops in Massachusetts and Connecticut, and the building too if your family owns it. We keep the team and the name your spouse built. When you're ready, James will talk with you, privately and with no pressure.
James StephensonLotus, Massachusetts and Connecticut
Quick answers.
Do I have to sell right away?
No. Keeping it running for a while is often wise. Your estate lawyer can tell you what's allowed.
Will the employees stay if I sell?
With the right buyer, yes. Lotus keeps the team.
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