How to Buy Out a Partner Without Losing Your Business
“Frank Shultz co-founded Infinite Blue and eventually bought out his partner after a year long negotiation. In this episode we’ll hear how Frank was able to get the deal done and eventually grow the business to the next level,” shares Sam Thompson, a Minneapolis business broker and the president of M&A firm Transitions In Business.
When Frank Shultz co-founded Infinite Blue, he and his partner split ownership 50/50. The business thrived, but their working relationship soured. Frank wanted to buy out his co-founder, but with a valuation in the eight figures, he faced a daunting question: Where would he get the cash?
In this episode of Built to Sell Radio, you will discover how to:
- Structure a buyout when you don’t have the funds.
- Avoid the biggest mistake founders make in 50/50 partnerships.
- Handle a lawsuit with a former employer while trying to build a business.
- Attract investors while maintaining control of your company.
- Negotiate a walkaway deal with no earn-out.
Frank’s story is a must-listen if you’ve ever considered bringing on a partner—or buying one out.