Gdott t1_jdj7zoi wrote
Reply to comment by ManhattanRailfan in This café in the West Village is now owned by its own employees by geoxol
No, they purchased it from the previous owner. Soon the other owners will be bought out and new employees will work for the new owner. It’s been this way forever.
[deleted] t1_jdjz8ri wrote
It's a bit different. This was made possible via Teamshares.
> Teamshares buys small businesses from retiring owners, grants 10% ownership of the business’s stock to employees after closing, and progressively increases employee ownership to 80% within 20 years.
Not a bad deal after all, if you think that the employees don't have to pay a dime.
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