What happens to a stable’s resident trainers and instructors after a handover?
Nothing is automatic. Resident trainers and instructors may be employees, or they may be independent and simply rent space, and that decides whether they stay. Find out which before closing, and speak with each of them early. Ask early, and in person.
Begin by sorting everyone into categories. Some trainers are on payroll. Others run their own business from the barn, bring their own students and pay for stalls or arena time. The second group owes you nothing after a handover, and their clients often follow them if they leave. Ask the seller for each person’s written arrangement, and if there is none, treat that as a gap to close. Pay attention to how each person talks about the sale, since enthusiasm or worry tells you something before any contract does.
Next, find out whose clients they really are. In many stables the lesson riders and boarders feel loyal to a person, not to the building. Ask which programs depend on one instructor, and which horses are school horses owned by the stable and which belong to a trainer.
Plan the introductions. Sellers often prefer to tell the team themselves, and a buyer who meets each trainer before closing learns who plans to stay. Consider agreeing terms such as notice, arena use and student ownership in writing. Ask your lawyer to draft anything that binds either side, and your insurer how instructors are covered. Allow time after closing for the team to settle with you, and expect some adjustments in schedules, lesson plans and show commitments.
Key takeaways
- Find out who is an employee and who simply rents space.
- Ask which students and boarders would follow a trainer out the door.
- Meet each trainer before closing and put agreed terms in writing.
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Succession
Sources
This answer is checked against primary sources. Links were last confirmed on the dates shown.
- 01Business Development Bank of CanadaGovernmentHow to conduct due diligence when buying a business
- 02Business Development Bank of CanadaGovernmentWhat are the steps to buying a business?
- 03Business Development Bank of CanadaGovernmentWhat is succession planning?
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