Retirement, sale of translation business Thread poster: Joachim Koehler
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Is there anybody with any experience of how to handle the continuation opr sale of a translation business after retirement ? For example, the owner of a well-know translation agency (established over 25 years ago & with an impeccable record) with a large house in the Hérault, Southern France would like to retire. How can that be arranged? Any suggestions, ideas or experience ?
| | | | | Maybe not much help, but... | Sep 15, 2013 |
I have no experience at all, but what I might consider if I were in your shoes would be contacting nearby competitors and offering your business to them for sale. They would take over your regular clients and inherit your translator database (with the permission of all parties concerned, of course) and then you could work out a smooth transition with them.
I say nearby competitors simply because you'd really want to meet people face-to-face and work things out with them when it come... See more I have no experience at all, but what I might consider if I were in your shoes would be contacting nearby competitors and offering your business to them for sale. They would take over your regular clients and inherit your translator database (with the permission of all parties concerned, of course) and then you could work out a smooth transition with them.
I say nearby competitors simply because you'd really want to meet people face-to-face and work things out with them when it comes to major decisions like the sale/continuation of a business. ▲ Collapse
| | | | Alex Lago 
Spain
Local time: 18:42
English to Spanish
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| Business or freelancer | Sep 15, 2013 |
Is this a business (i.e. a company with employees) or a freelance operation in which one person takes care of everything.
| | | | | A stepwise transition | Sep 15, 2013 |
Just to share a couple of things I would think about if I was to buy a translation business:
- If I was to buy another translator's business, I would require that the seller stayed with the business for a certain period, for instance six months, so that I could gradually learn about the customers and their materials, taking over customers in order of importance, from the less important to the most important, with the seller's permanent support.
- I would also require th... See more Just to share a couple of things I would think about if I was to buy a translation business:
- If I was to buy another translator's business, I would require that the seller stayed with the business for a certain period, for instance six months, so that I could gradually learn about the customers and their materials, taking over customers in order of importance, from the less important to the most important, with the seller's permanent support.
- I would also require that the seller agreed to do a round of visits to the main customers in order to introduce myself with the presence of the seller, sharing the expenses, perhaps.
- Another important thing I would require is that the purchase agreement contained a clause prohibiting the seller to approach (or even contact) the acquired customers and, in case the seller is retiring, that the seller agrees never to operate again in the translation business, neither directly nor indirectly.
Now a thought on the side, namely the fact that it might prove to be tricky to sell your translation business in a simple operation:
- Experienced, high-quality translators will probably have the money, but will already have enough customers, perhaps too many, so they would not be interested.
- Unexperienced translators with potential for a good quality won't have the money.
- Translation firms could have the money, but their service might prove to be a bit impersonal to your customers, so it is not an option either.
Probably your best buyer would be a small team of younger translators who will cherish your customers and will offer them the flexible and friendly service they probably receive from you. However, maybe they do not have all the money in one go, so you might have to be paid in installments or find some other arrangement.
[Edited at 2013-09-15 19:26 GMT] ▲ Collapse
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jyuan_us
United States
Local time: 12:42
Member (2005)
English to Chinese
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| That is a key question to ask | Sep 16, 2013 |
Alex Lago wrote:
Is this a business (i.e. a company with employees) or a freelance operation in which one person takes care of everything.
Your business as a freelancer might worth something but it could also worth nothing. Your client uses your services because they value you as a professional. When you are retired, I don't see any reason why your client wants to cooperate with the company to which your business has been transferred.
if you are running a company, it is a different story. It is possible that your company be sold,say, for a million $, depending on various factors.
| | | | | Translation businesses on the market | May 25, 2021 |
Hello.
If you know of any small/medium size translation business for sale, please let me know as I know some investors who might be interested.
Thank you.
| | | | Tom in London
United Kingdom
Local time: 17:42
Member (2008)
Italian to English
ETC LTD wrote:
Is there anybody with any experience of how to handle the continuation opr sale of a translation business after retirement ? For example, the owner of a well-know translation agency (established over 25 years ago & with an impeccable record) with a large house in the Hérault, Southern France would like to retire. How can that be arranged? Any suggestions, ideas or experience ?
What is the relevance of the large house? Is it a factor in the proposed sale, in some way?
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