Winery sale and transition planning

When selling your winery, one thing you'd like to prepare is a transition plan for the new owner after the winery sale. Work with your specialized winery business broker on the timing and specifics of how you can make sure the new owner learns all he/she needs to know about the business while being fair to both sides. A few questions to think about as a winery owner moving on to your next chapter in life may include:

• How long am I willing to stay working at the winery as the new owner learns the business?

• How many hours a week am I willing to provide my time to the new owner during the transition period?

• Do I need to be paid a salary while I am assisting the new owner?

• If the house is sold as part of the winery, where will I live in the transition period? Is it smarter to rent or buy depending on whether your plan is to create a long-term job for yourself or move to perhaps join family or experience a change of scenery.

  
  

Having a set plan in place in advance is appealing to a prospective buyer as part of the selling process. They can be sure to have support and training while learning the various aspects of running a winery in areas such as winemaking, special events, and staffing. I advise winery owners to give this some thought early on in the process and be prepared to have a document prepared titled "transition plan" with details on your advance thoughts on not only how to transition the new buyer but yourself as well.

John

Specialized business broker for wineries

winespiritsbusinessbroker@gmail.com

www.sellyourwinery.com

516 307 6065 cell

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