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Small Business - One Partner Leaving

  • 05-01-2017 10:29am
    #1
    Rugger13
    Registered Users, Registered Users 2 Posts: 78 ✭✭


    Hi,
    I was wondering if someone could advise on the usual process when a partner leaves a small business. The business in question (hair salon) has been in business over 10 years...and has a strong clientele. There are 2 equal partners who set up the business at the outset (both invested the same amount to set up etc). 

    Now one of the partners has to leave for personal reasons. What is the "usual" pratice in such cases in terms of "buying out" the partner who is leaving. 
    - Is it mearly half the value of the current stock / furniture / fittings etc?
    - Is "good will" in terms of the clientele that has been built up worth anything at all in such cases?
    Any feedback advise would be greatly appreciated !
    Thanks in advance.


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