How a Wellness & Fitness Business Hired a Lawyer to Draft a Buyout Agreement in Michigan

In 2025, a business in Michigan sought assistance with drafting a buyout agreement as one partner sought to acquire the other’s 49% ownership stake in the wellness and fitness venture. The transaction was structured to ensure that the buyer would not need to provide cash upfront, relying on full financing from the seller, while also including strong guarantees backed personally by the buyer and their other business entities. Additionally, the agreement included provisions to maintain favorable financing terms and a structured transition period for management functions. As a result, the client received 12 proposals from licensed lawyers, with flat fee bids ranging from $350 to $2,500, all submitted to meet the client's deadline of over a week.