Once you have made the decision to sell your business, how do you decide who to sell to? It’s not all about the money - you should consider how your life and that of your employees will change depending on the buyer you choose. The transition from owner to manager can be difficult, and you may be unsure of what to expect post-acquisition. At Volaris, we try to make this process as smooth as possible for you and your employees. So here’s what to expect during the transition process:
1. The Choice to Stay On is Up To You
Being acquired may have given you the exit strategy that you always wanted, or it may be the opportunity to access the resources and funds that will allow you to invest for growth, and the best practices that will help you to improve your business. No matter what your outlook is about the acquisition, know that it is your choice whether to continue working with the business that you built, or to step back and focus on other elements of your life. At Volaris, we value business owners who want to stay on with their business. Do other potential acquirers?
2. No Scorched Earth
At Volaris, we believe in investing in your products and the people behind it. That means when we acquire a company, we offer your leadership and staff the tools that they need in order to grow and succeed. At Volaris, we are committed to the long-term prosperity for all of our acquisitions.
3. We Take the Time to Get To Know You
Putting people first is engraved in our culture, so whether you are a recent acquisition or one of the original business units, we strive to preserve your corporate identity which is easier to do given our highly decentralized business. Will other potential acquirers integrate your business heavily?
4. Be Prepared to Lose Some Control…
It will be an adjustment to no longer have majority control of your business. We would be happy to connect you with business owners that have sold to us so that you can do your own due diligence.
5. You Will Still Have Autonomy
Our decentralized business model provides the most autonomy that most business leaders have known within a larger organization. Our business leaders have a deep understanding of their markets, customers and employees and know what the right decision is - having a parent that controls every step will only hinder their progress. We strive to provide acquisitions with the independence they require in order to be successful.
Just remember that being acquired is a process. At Volaris we nurture our companies in order to facilitate long-term success. It takes patience and understanding from both parties in order to transition smoothly.
What are your thoughts on the philosophies Volaris uses when acquiring companies? Have you had experience with acquisitions? Let us know in the comments below.