A small-business owner is looking for an exit strategy and likes the idea of selling to their employees. But after investigating employee stock ownership plans, the owner decides that the upfront and annual costs of an employee stock ownership plan (ESOP) are too much. They are ready to consider a third-party sale as an option. Giving up at this point would be unfortunate because there is another viable path to employee ownership yet to be explored — the worker-owned cooperative or WOC.

Learn more about what a worker co-op is, its advantages, and steps to converting to one in the article below.