I Own My Book

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Aug 9, 2006 5:03 pm

I think the best would be to have your kids take over the business and make it grow

Aug 9, 2006 5:06 pm

brothaK,  that's an attractive position from the rep's stand point. 



Has anyone done this?  Anyone know of any firsthand successes or failures by going this route?

Aug 9, 2006 5:16 pm

There are plenty of parent-children combinations out there and many are successful...look at the Davises for one...it's fund management, but the concept is similar.

Aug 9, 2006 5:20 pm

do you think there would be any negatives in using this method?

Aug 9, 2006 5:26 pm

Sure...I'm certain many fail...probably due to a parent forcing their dream on the child.  If the child is interested, fine.  Otherwise, forcing a career choice is a huge mistake and usually results in a big flame out.

Aug 10, 2006 2:07 pm

It's happening right here in my town with another RJFS branch.  It does take some planning and it's probably not as easy as firms make it out to be.  In fact, RJFS has a site that lists all the practices for sale.  I'm sure others do as well.


I'm not sure it's the best option to sell your business...but given the circumstances, I think it is a viable option.  Every business is different and every business owner is different. 


Aug 10, 2006 3:24 pm
zacko:

In fact, RJFS has a site that lists all the practices for sale. 



Zacko is that a public web site? If so can you post the address or pm me with it?

Aug 11, 2006 9:22 am

It's not a public site.  There are usually about 5-10 practices for sale at any given time.  You can probably get more specific info from an RJ recruiter on getting you access to info.