Parents selling family business without telling me!!

[beanii]

Hi,

I work for my parents in a shop, after a little bit of suspicion I have found out via the Internet that they have put the business up for sale with even a WORD to us!! We rely on my wage from there as we have 3 children, please tell me it is normal to be this upset and angry?? xxx

It's an odd thing for them to do, but maybe they're worried about your reaction and have decided to see if they find a buyer before raising it with you.

The buyer would take over the business, continue to run it, and there's no reason to assume you would lose your job. In fact your job may be legally protected - new owners can't just sack everybody, you should have a look at the TUPE regulations.

I would be upset they haven't mentioned it to you - may be worth asking them what their plans are.

Maybe they are just testing the waters t present and didn't want to upset you until they know for sure what they want to do.

Your job is protected by TUPE regulations possibly so I would look at those before worrying that you are losing your job.

Maybe they want to retire.

I think they should definitely have spoken to you about it. I would talk to them straight away.

Is it your business? If you are just an employee you wouldn't know yet.

I know that sounds harsh but I'm thinking it through as a business decision which may be what they are doing.

I don't think there's a decent way to spin it - testing the waters, not wanting to worry you, it being their business. Well yes it is - but they're your parents. I think it's a really shitty thing to do.

Even if you were staff only not a daughter, I'd be letting staff know that the business was for sale, as a going concern, which included their jobs (or whatever you situation is)

To not tell your own child is pretty shoddy.

Perhaps they are planning to give you some of the money they get from selling it, and want it to be a surprise?

Whatever the reason, it would surely have been courtesy to mention it to you.

They might just be putting it on the market in an exploratory way to find out what it's really worth, for wealth planning purposes. Any asset is only worth what someone might be willing to pay for it after all. They may have no intention of actually selling, or may be planning to gift the business to you but want to know what it's really worth first. Could you run the business without them if they want to retire? Have you impressed them with the efforts you put in to make it a success? Or you may be right that they are selling in which case they have every right to do so.