Provides a platform that acquires small businesses from retiring owners and transitions them to employee ownership through proprietary software, financial products, and education. This model addresses the challenge of 70% of small businesses failing to find buyers at retirement, enabling employees to earn up to 80% equity over 20 years while preserving local businesses and their economic impact.
Funding
$294.3M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many small businesses struggle to find buyers when the owners retire, leading to closures that impact the owners' retirement savings, employee jobs, and the local community. Approximately 70% of small businesses fail to sell when the owner retires.
Solution
Teamshares provides a platform that acquires small businesses from retiring owners and transitions them to employee ownership. The company grants 10% ownership to employees upon acquisition and progressively increases it to 80% within 20 years, incentivizing employees through stock ownership earned via continued service. This model ensures the business remains local and creates financial benefits for employee owners, the company, and the local economy. Teamshares leverages proprietary software, education, and financial products to facilitate this transition.
Target Audience
The primary target audience includes retiring small business owners looking for a succession plan and employees of small businesses seeking ownership opportunities.
Features
- Facilitates small business acquisition from retiring owners.
- Grants initial 10% stock ownership to employees upon acquisition.
- Progressively increases employee ownership to 80% within 20 years.
- Provides ongoing education and support to employee owners.
- Recruits and trains mission-driven presidents to lead acquired companies.
- Offers open-book financials to employee owners for transparency.