An Employee Stock Ownership Program (ESOP) is an employee benefit plan that gives workers ownership interest in the company. But is an ESOP right for your business? In this episode, Wes and Brooks Powell answer a viewer question regarding implementing an ESOP within your family business. They discuss pros and cons, other options, things to consider and more.Have you considered implementing an ESOP in your family business?
Learn all about it here on Builder Funnel Radio.
- 2:28 Introduction
- 3:30 Different business structures
- 8:30 LLC's
- 13:20 Things to consider
- 18:44 Pros and cons of an ESOP
- 21:55 How do I maintain the family culture with an ESOP?
- 34:00 Options to maintain the family legacy
- 41:45 Final thoughts
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