Specialty Retail: Preparing for Succession

Between 20 and 30 years ago, outdoor specialty retail shops began popping up around the country. Owned and run by passionate outdoorists, these stores became institutions in their towns and communities. Over time, some of them were swallowed up by bigger companies or went out of business, but many of them thrived. Now, though, owners are aging out and inching up on retirement with no built-in plans for succession. This episode will address: How and when to create a succession plan for your business Common mistakes store owners make and how to avoid them Examples of outdoor shops who have/are successfully setting themselves up for succession Episode guests: Bob Wade, Ute Mountaineer Carolyn Crook, Pack Rat Outdoor Center Jim Smith, Mountain Chalet Membership in OIA comes with a host of business benefits including preferred partnerships with law firms, HR specialists, insurance providers and other experts who can help you plot your next step. Visit outdoorindustry.org and click on Benefits of Membership to learn about our partnership program.