Could a Family Office Buy the Business Your Kids Don’t Want?

If your kids don’t want the business, could another family carry it forward? Richard Boyce and I talk about selling to a family office. Richard comes from generations of business owners. His own family’s investment portfolio is being shaped around his children’s interests and values, which brings a different perspective to the search for a buyer. We talk about why regional jobs can matter to a buying family, what remains when a family sells the business but keeps the land and how patient capital shapes an investment. The family on the other side of the table has its own reasons for buying, and those can change with each generation. What does carrying on your legacy mean when the buyer has a next generation of their own? Chapters 00:00 Why Families Buy Businesses 12:36 New Roles for the Next Generation 22:05 The Purpose Behind a Purchase 31:16 Succession, Property and Family Identity 41:45 Finding the Right Family Buyer 46:44 What Patient Capital Means 53:35 Today's Shout: Ageyo Coffee Today's shout was a coffee from Ageyo Coffee in Melbourne. Ageyo Coffee: https://www.ageyocoffee.com.au/ About Richard Boyce Richard is a family enterprise specialist with a unique blend of experience gained over 30 years, being a practising chartered accountant, tax agent, company director and 5th generation member of a family that owns businesses across Australia and the UK. Richard has worked as a specialist family business and family office advisor with many leading global business families to develop their generational family enterprise model and is a former Partner of EY Global Business Centre of Excellence. Richard is also a fellow and academic faculty member of the Global Family Firm Institute (FFI) based in Boston, a strategic consultant to Family Business Association in Australia & NZ (FBA), Chair of the University of Adelaide Family Enterprise Group (FBERG) and an independent board member to a number of generational family businesses. Richard’s passion is family enterprises and providing the support structures and mentoring to see generational families succeed for future generations. Website: https://www.boycefamilyoffice.com/exe... LinkedIn:   / richardboycefb   Follow My Shout wherever you listen. Apple Podcasts: https://myshoutpodcast.com/apple Spotify: https://myshoutpodcast.com/spotify More episodes: https://myshoutpodcast.com/episodes #MyShout #FamilyBusiness #FamilyOffice