Multi-Unit Franchisee Magazine Issue III, 2014 | Page 83
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a life-changing event. A common way to
address this is through a buy-sell agreement between the owners that clearly details the terms at which a partner’s share
may be sold to the other partners in the
event of death, disability, or retirement.
Typically, a valuation formula is used to
value each partner’s share, so that there is
no question as to valuation when a triggering event occurs. The buy-sell agree-
The optimal
outcome will be
achieved if you
make a specific and
solid exit plan
up front.
ment also helps prevent potentially sticky
situations, such as becoming business
partners with a former partner’s spouse
or family member, or perhaps a trustee.
Finally, a buy-sell agreement creates a
market for a departing partner’s shares,
which is critically important in terms of
receiving value for their portion of the
business, as there otherwise would be no
real market for a minority-share interest
in a privately held business.
In conclusion, it is inevitable that a
transition of ownership of your business
will occur at some point in the future.
The optimal outcome will be achieved if
you make a specific and solid exit plan up
front, addressing the critical items outlined above. When it’s time, you will be
a ready, willing, and able seller.
Dean Zuccarello is
CEO and founder of The
Cypress Group, a privately
owned investment bank and
advisory services firm focused exclusively on the
multi-unit and franchise
business for 24 years. He has more than 30
years of financial and transactional experience in mergers, acquisitions, divestitures,
strategic planning, and financing in the
restaurant industry. Contact him at 303680-4141 or [email protected].
2015 MUFC Save the Date
71
2014-2015 Conference Calendar
79
Aaron’s, Inc.
9
Brick House Tavern+Tap
31
Brixx Wood Fired Pizza
49
BullsEye Telecom
25
Captain D’s
47
Checkers & Rally’s Restaurants
19
CKE Restaurants
Back Cover
CKE Restaurants
Tip On Cover
Corner Bakery Café
45
Costa Vida
59
Del Taco
65
Denny’s 5
Direct Capital
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Dunkin’ Brands
17
East Coast Wings & Grill
59
Feed America
63
Firehouse Subs
63
Forever Yogurt
45
franchiseIQ 61
Franchise Learning Academy
75
FRANdata Corporation
IBC
Fuddruckers Inc.
63
Golden Corral Buffet & Grill
73
Hungry Howie’s Pizza
41
Hurricane Grill & Wings
29
International Franchise Association
77
J.D. Byrider Systems, Inc.
41
Jake’s Wayback Burgers
57
Jimmy John’s Gourmet Sandwich Shops
27
LED Source
75
Mama Fu’s Franchise Group, LLC
47
Massage Heights
13
McAlister’s Deli
55
Medifast Weight Control Centers
IFC
Moe’s Southwest Grill
39
MOOYAH Burgers, Fries, Shakes
29
MU IV Advertising Deadline
73
My Salon Suite
21
Newk’s Eatery
65
Pancheros Mexican Grill
53
Papa Murphy’s Take ‘N’ Bake Pizza
55
Pet Supplies Plus
39
Red Mango
3
Russo’s New York Pizzeria
35
SEARS Hometown and Outlet Stores
10,11
Signal 88 Security
51
Smoothie King Franchises, Inc.
Custom Insert
sweetFrog Premium Frozen Yogurt
35
The Coffee Beanery
73
The Greene Turtle Sports Bar & Grille
49
Tide Dry Cleaners
1
Togo’s Franchisor, LLC
73
Total Nutrition
31
Wingstop Restaurants Inc.
53
Wok Box Fresh Asian Kitchen
57
ZIPS Dry Cleaners
51
MULTI-UNIT FRANCHISEE IS S U E III, 2014
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