Assessing the value of the company
2
Evaluating the acquisition team
- Intent to purchase
- Acquisition team suitability
3
Determining financing options
- Financing the employees’ capital outlay
- Grants and programs for cooperatives
4
Updating your business and financial plans
5
Training and accompaniment for buyers (acquiring parties)
- Learning management skills
- Making collective decisions
- Developing entrepreneurial aptitudes
Ideal conditions for
converting to a co-op:
In order to make a business conversion work, you will want to consider a few key elements that will set your cooperative buyout on the path to success:
- Your team should have complementary skills in both entrepreneurship and management;
- The group of employees set to acquire the company should already have some individuals with leadership skills;
- The selling owner should be actively involved in the business transfer;
- The company should be in good financial health;
- There should be adequate time for the conversion process to take place;
- Advice and coaching from experts working with co-ops should be available.