74 July 2014
|
beautystorebusiness.com
BUY/SELL AGREEMENTS
What You Should Know
Protect yourself, your
family and your beauty
business by drawing up
these buyout documents.
by Phillip M. Perry
HOW MANY WAYS CAN A FAMILY BUSINESS GET INTO TROUBLE?
Maybe an infinite number, if the stories told by family business consultants are
any guide. "In a nonfamily business you have rational problems and rational
solutions," says Don Schwerzler of Family Business Experts (family-business-
experts.com), an Atlanta-based family business counselor. "But in a family business
you have rational problems and emotional solutions. Decisions are made
not necessarily on what's best for the business but what's best for the family.
That makes things difficult." The resulting disruptions can be costly. Schwerzler
offers three illustrative scenarios that recently crossed his desk.
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B u y / S e l l A g r e e m e n t s W h a t Y o u S h o u l d K n o w . i n d d 7 4 Buy/Sell Agreements What You Should Know.indd 74 6 / 3 / 1 4 4 : 4 7 P M 6/3/14 4:47 PM