I’m taking over the family business. I’ll be a third generation owner. I will purchase it through contract for deed.
My father told me the number one thing he wanted to do was run the business better than my grandfather. I feel the same way, and sometimes I’m not quite sure how to vent my frustrations to my father on what he could do better.
He’s a terrific businessman who had brought our family comfort. Sometimes I think he has some blind spots.
How do I approach these things without being insulting?
You need to actually be in charge. Also, how much are you paying to buy the biz ? It’s bad if you have to finance your dad’s retirement and then you have big debt. Also what is the arrangement to keep him around as a consultant. We need to know all these things in order to weigh in properly