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The owner of the Rock City Cafe and Roastery began planning her phased exit from the businesses in 2010 after her husband passed away. She started thinking about transitioning ownership to her employees. From 2014, she worked with an advisor for 15 months to analyze financials, educate herself and advisors, and plan for transitioning to a worker-owned cooperative model. The actual transition occurred in early 2018, over 4 years after initial planning began. During those intervening years, the owner gradually transitioned operational control and decision-making to employee teams. She is staying on as general manager for another year to allow for a full phased exit and transition period. The phased approach over several years allowed ample time for planning, processing, training employees, and ensuring a smooth transition of the businesses to worker ownership.
Owners who either (1) have a longer runway for planning an exit, (2) would like to stay involved in the business in some capacity, or (3) gradually prepare the business financially and operationally for a transition
Cooperatives & Business Succession Strategies
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Suggest question2018 Webinar Series Cooperative Solutions for Community Needs - sponsored by the University of WIsconsin Center for Cooperatives
Courtney Berner, UW Center for Cooperatives Rob Brown, Cooperative Development Institute Josh Stolzenburg, North Wind Renewable Energy Cooperative
About UW Center for Coops
Attendees will learn about strategies for developing an efficient board including meeting agendas and facilitation, committees, and maintaining a healthy board culture. We will review key elements of effective decision making. Recorded May 13, 2020.
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