I am looking to buy-out my boss’ financial advisory practice. I need advice!

My boss is looking to retire, but he wants to get a fair deal or otherwise he, "Gets paid more to stay," as he puts it. He owns 100% of the company with no debt.

There is another partner at play here with no ownership stake. I am on good terms with him and we have agreed to pursue the deal jointly.

What should my approach be? How should I value the company? What resources other than Google searches can you point me to, to learn more?

I'm thinking some sort of buyout over a 5 year period. There are so many ways to structure this

I have googled lots, but I'd like some advice from someone that has personal experience with this in some way.

It will be difficult to give much detail without making it personally identifiable, but I am grateful for any advice!

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