Buying Out a Business Partner

When a person wants to take his or her business to the next level, it is often necessary to buy out the other business partner who doesn’t share the same vision. While a sticky situation, one can buy out their partner without any issues if they understand how to complete the job in a wise manner. Here are three steps to buying out a business partner.

Talk about it, in person:

First, when working with a partner, it is crucial to speak to him or her without fear. To start, when talking about this subject, an entrepreneur needs to mention his or her thoughts and concerns on the matter. Fortunately, if approached wisely and methodically, one can talk to their partner and resolve the issue quickly. Sometimes, one can fix the initial problem and avoid the buyout process. Remember, often, partners will let minor issues like credit card processing or merchant accounts cause problems. If one can fix the underlying situation, they will save time and money.

Come to terms and the dollar amount:

Now, if one can’t resolve the underlying problem, they need to come up with a viable plan to buy out the other partner. Ideally, when working on a solution, one will deal only in cash. With a cash buyout, an entrepreneur can keep his or her ex-partner happy. To decide the amount, the partners need to look at the profits and losses for the company. Then, by looking at industry standards, the owners can determine the true value of the organization.

Draw up paperwork with a lawyer:

While tempting to complete the task without legal counsel, it is unwise. The owners need to hire a qualified lawyer who can draft an agreement for the buyout. When writing the buyout agreement, the lawyer must include everything. Not only will he or she include the final buying price, but the lawyer also needs to lay out the process for transferring ownership for items such as the credit card processing and merchant accounts. While a time-consuming process, it will save both people anguish in the long run.

While not easy, if one follows these three steps, they can buy out their partner. Since it is a difficult process, an entrepreneur needs to exercise caution and take his or her time to avoid long-term issues.



It took me a while to decide who I wanted to settle with to handle all of my credit card transactions because every company wants to make it sound like they're offering you the best rates. was able compare and beat all of the other offers I received. They were also able to provide me the fairest price on my EMV-compliant terminal. My sales representative and the support team were there to assist every step of the way. Ultimately, I'm looking forward to a long term relationship with this company.

Roland Tran from the Hong Kong Kitchen

It is a pleasure dealing with these folks. Their pricing is fair, their statements are understandable and their employees are knowledgeable and friendly.

John MacMillian from the Great Lakes Baking Company

The service was very professional, my sales person (Steven B.) was very well versed in the product and most helpful in getting our company set up to accept credit cards via my cell phone. Their rates are some of the lowest on the market and their service is unparalleled. I will recommend them to anyone requiring a credit card processing service.

Michael Harper from Deluxe Auto Body

Jonathan C. is wonderful to work with. He is very helpful, accommodating and resolves any issue quickly. It is hard these days to find someone who gives great customer service, but I can say, Jonathan is the best! I would not hesitate to recommend him to any business owner and to assist you in helping to grow your business.

Linda Garner from Regali Da Forno

I called indecisive about getting a device, but speaking to your Sales Consultant completely settled me. He was very professional, knowledgeable and patiently walked me through the process. He always responded to my voicemails and answered all my questions. After I received my merchandise, he called following up to ensure that I had received it. Customer service I would say is 5 stars. Stellar! Thanks Credit Card Processing, I will definitely recommend you.

Sarah Morgan from Vision International Ministries
Call Us Today! (866) 837-0751

© 2016 All rights reserved. Privacy Policy
CREDITCARDPROCESSING.COM, LLC is a registered ISO of Wells Fargo Bank, N.A. Walnut Creek, CA

*Further terms and conditions may apply. Promotion contingent upon's receipt of written competing offer(s).

**Certain restrictions may apply.

Promotional offers brought to you by

Call (866) 837-0751 for details.