I am currently selling my grocery business, am I expected to stay for a certain period of time after they have purchased the business for me to show them all the day to day activities and transition for free?

I am part ownerer/manager of the store

  • RunRide@alien.topBEnglish
    1·
    1 year ago

    Part of the purchase and sale docs should be an employment agreement. It needs to describe the length of time, rate of pay, benefits, etc that you will be compensated for your time. Unless it is a very short period of time (30 days), I would not just bake it into the sale price.

  • djrexy7@alien.top
    BEnglish
    1·
    1 year ago

    Your transition of the business should be included in the initial compensation package, since that’s what you’re selling and you need to offer transition free to the new business owners. depending on the type of grocery you’re talking of 200K to 600k or more. the price the new owner pays should include training. Also you are legally required to stay for a minimum of 2 to 4 weeks to provide proper training.

    That being said anything past 2-4 weeks can be charged on a daily or hourly basis.