People are the lifeblood of the after-
market. Equipment and technology play
a major role but it takes employees to
make a business thrive.
This is one of the main reasons
business owners in this industry are so
fi ercely loyal to their people. They know
they couldn't do what they do without
them.
It's this same loyalty that can make
exit planning so agonizing.
It's hard for business owners to walk
away from people they care about —
especially when they were so infl uential
to their careers and success.
For current business owners head-
ing toward this reality and dreading it,
one potentially optimal solution is an
Employee Stock Ownership Plan.
Commonly known as ESOPs, Em-
ployee Stock Ownership Plans allow
business owners to sell their company to
the people most committed to its success,
while also leveraging federal tax benefi ts
to maximize exit earnings and develop
a long-term stock-based retirement
14
T R U C K P A R T S & S E R V I C E | M a r c h 2 0 1 7
The ESOP
Option
Cover Story
By Lucas Deal, Editor
lucasdeal@randallreilly.com
A
sk any aftermarket business owner to name the
most important asset in their business and the
answer nearly always comes back 'employees.'