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Suggest questionA Yard and a Half Landscaping employees bought the business from a retiring founder. Now it’s a thriving worker cooperative in Boston.
One in three small business owners will retire in the next fifteen years. This story, one of three stories in a campaign from the Democracy at Work Institute, illustrate how employee buyouts can save local small businesses and help employees build assets. This strategy is particularly meaningful in communities of color and low- and moderate-income communities where asset ownership levels are well below average and legacy businesses may be more fragile than they appear.
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Watch the other two videos in this series: Metis Construction - A Child's Place -
Transcript from YouTube captions. May contain errors.
[Music] siempre es monogamy prop universe pero puede venir they won't buy it on the lid ama differentö es muy diferente de las casas Toshio mucho mas complicado para me entonces la may form a semi de la patina in a cooperative are the yard and half was founded in 1988 I came on board in 1996 it was a good fit that's why I never left [Music] eileen here's our phone with us she really just found good people and then found a way to make them fit and really grew the company based on the strengths of the people that she had working for her at first when we store the idea wasn't so popular you know what will happen to us that who's gonna be our new boss are they gonna keep us are they buying just an a of the company democracy at work Institute is a resource for both existing worker coops but also for businesses considering coop conversion they're thinking about things like company culture and financing and what does the relationship need to be between the departing owner and the employees and all these sorts of things one of the challenges I think for an owner thinking about co-op conversion is becoming conscious of all of the hats that they wear as a sole owner so when the time came to sell the company to the employees one of the things that she did was to sort of develop a management team where five of us started meeting with her on a regular basis and she started being more transparent about what it takes to run a business like a team for Marcel air Liberty tempo extra pero también al entender de cómo funciona una cooperative disagree [Music] we have 50% membership right now we aim to make money on our jobs so that we can pass it along to people since we became a coop we've been sharing more bonuses some people they have purchased their own houses cooperative ahuna la mejor es opciones porque topo cozy convierte en una forma de accomplice err Caprichos de una sola persona sino to negocio pero también panera la gente en primer lugar more than good jobs more than good job mask awareness trabajos ownership ownership it's almost dangerous you
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