My Kid Doesn’t Want My Company — What Now?

Posted on by Miren Oca



This transition model was the solution I needed to secure my succession plan.

Sometimes the right choice isn’t the easiest or most obvious one, but after extensive research and careful consideration, I transitioned my company into an employee-owned business. Here’s an inside look at why I chose this model, how we made the transition, and what the early impacts have been a year later.

The Search for the Right Succession Plan

For over 30 years I have dedicated my life to growing Ocaquatics Swim School into a thriving, mission-driven business. We now have five indoor, warm-water swim schools with 165 incredible team members teaching 6,500 swimming lessons per week. We have built a culture rooted in social and environmental responsibility, and I wanted to protect that. I knew that whatever succession plan I chose had to prioritize our people — not just profits.

In our 25th year in business, I started looking seriously at what would happen to Ocaquatics when I was ready to step back. Like many business owners, my first thought was family succession. My son had worked in the business for years, and I hoped he would take over. But he made it clear that Ocaquatics was my dream, not his, and I respected that.

With that decision made, I started exploring how to transition ownership 

to my team. I wanted to find a model that would:

  • Preserve our mission and culture
  • Give employees a real stake in the business
  • Ensure financial stability for the company and team
  • Be affordable and sustainable long term

Exploring alternative succession plans led me to look into employee stock ownership plans (ESOPs), co-ops, management buyouts, and even a DIY approach with stock options, but each had complexities that didn’t align perfectly with our goals. Then I learned about employee ownership trusts (EOTs). Once I started researching, I realized it was exactly what I was looking for. 

Why We Chose an Employee Ownership Trust

An EOT is a business structure that holds shares in trust for the benefit of employees. It differs from an ESOP in that it is a profit-sharing plan, not a retirement benefit plan. Employees do not have to buy into the business or hold individual shares — it is collectively owned for the long term. This model appealed for several reasons:

It protects our mission. The EOT legally ensures that Ocaquatics remains true to its purpose of providing high-quality swim education, empowering employees, and supporting the community. Unlike a traditional sale where new owners could shift priorities, the EOT preserves our values indefinitely.

It creates financial stability for employees. Under private ownership, profits often benefit only a few. With an EOT, all employees who qualify share in the financial success of the company. This fosters a deeper sense of ownership and long-term commitment. 

It provides a smooth transition. Many succession plans require a single leader or management team to step up and purchase the business. With an EOT, there is no financial burden on employees as the company is purchased out of the cash flow of the business over the term.

It strengthens our culture. At Ocaquatics, we emphasize servant leadership, leadership development, and a culture of ownership that we call our OWN IT culture. Employee ownership amplifies these principles.

It diversifies employees’ financial security. Each year after paying expenses and debt, the remaining profits are shared among employees. Half of this payout is distributed as cash bonuses, and the other half is contributed to employees’ 401(k) retirement accounts. Unlike an ESOP where most of an employee’s retirement savings are tied up in company stock, our profit-sharing model ensures diversification. This protects employees from economic downturns or industry-specific challenges.

The Transition Process

Once we decided on an EOT, we worked with an advisor to ensure a smooth transition. Here’s what the nine-month process looked like:

  1. Structuring the trust. We set up a trust to hold 100% of Ocaquatics’ shares. This ensures that no outside entity can take control of the company.
  2. Governing the company. A trustee and trust advisor were chosen to oversee the transition and uphold the EOT’s mission. Leadership within Ocaquatics continues to operate as usual with a continued emphasis on employee education and transparency.
  3. Financial planning. I structured the deal as a seller-financed transaction, allowing for flexibility if the company ever faced financial hardships.
  4. Educating employees. We provided extensive financial education for our team members, teaching them about how the business operates, financial performance metrics, and what it means to be an employee-owner.

On March 1, 2024, Ocaquatics officially became a 100% employee-owned company. Two days later we held a teamwide event to tell them the news. Initially there was confusion, then disbelief, then joy. Employees realized that their jobs were secure, and they had a real stake in the future of the business.

The First Year of Impact

We have now celebrated our first anniversary of employee ownership. The transition has been smoother than expected thanks to two years of preparation, financial literacy education, and cultural alignment.

Early impacts of the transition include:

  • Increased engagement. Employees take more ownership in their role in the business.
  • Improved financial literacy. We’ve increased training efforts on business finance and profitability.
  • Excitement for the future. Employees feel a greater sense of job security and pride in their work.

If you’re considering selling your business, ask yourself: Do I want to protect my company’s values and mission? Do I want my employees to benefit from the business they helped build? Do I want to leave a lasting impact?

If the answer is yes, an employee ownership trust might be the right path for you.

For me this transition wasn’t just about succession — it was about building a lasting legacy. I started Ocaquatics with nothing but a passion for teaching kids how to swim. Now, more than three decades later, I’ve ensured that the people who built this business will own it for generations to come. 

Water Safety Warrior Miren Oca

Posted on by Miren Oca

Here’s how my swim school surpassed 2.5 million lessons in 30 years and became employee-owned.


By Miren Oca



My journey with Ocaquatics Swim School began with a passion for water safety. As a swim instructor and single mother of a young child, I was alarmed by the high rates of drowning, especially in children in my South Florida community. But I didn’t view the rates as merely statistics — I saw them as preventable tragedies. This set me on a mission to teach families to love swimming and become safer, more comfortable, and more responsible around water. At Ocaquatics, we are proud of our work to help significantly reduce drowning rates through high-quality water safety and swim education. 

I started the business three decades ago by teaching swimming lessons in backyard home pools and eventually leased locations like country clubs and hotel pools. As the business grew, I started hiring part-time team members. The more people I hired, the more the business continued to grow. I realized that I needed to develop a business model and operating philosophy. We also needed to address the weather challenge of working solely outside because it was negatively impacting our ability to consistently teach our swimming classes. 

So after 15 years of teaching in outdoor leased locations, I decided that I was going to need purpose-built indoor facilities. The change was a big, bold, scary move that required significant capital investment, but I realized that moving to indoor locations and implementing more sustainable practices could affect greater change. The expansion allowed us to teach year-round, which was very different in South Florida at the time. It also allowed us to make a greater impact and reach more people to make children and families safer around water. 

Investing in Our Employees

With this new growth, we were also able to create a more sustainable model. We added a second part to our mission specifically dedicated to our team members. We committed to helping them grow within a framework of social and environmental responsibility so that we could expand our school in a sustainable way and make a bigger impact in our world.

We realized that we could not honor our mission to our families without a strong commitment to our team members. We wanted to be a workplace that cared about our people and invested in their development. We made sure our team had fair wages, good benefits, and personal and professional growth opportunities. We grow our team from within, helping them learn the skills they need to lead in a culture that is supportive and inclusive. 

We discovered that our team members really enjoy working with an organization that is making a difference in the community. As a certified B Corp, we teach our team members about social and environmental responsibility and how a business can be a force for good. We ask our team to help us designate our charitable contributions by making donations to the charity of their choice on work anniversaries, birthdays, and key milestones. We offer paid community service time and paid time off to vote in elections. We help our community and environment with all of these initiatives and are excited to continue doing them.

Expanding Our Operations

Between 2009 and 2019, Ocaquatics underwent significant expansion. We built five new, dedicated, indoor facilities and remained true to our mission for our families and our team members. Expanding our operations required navigating financial uncertainties, regulatory landscapes, and building a team that shared our values and mission. These challenges taught me the importance of resilience, adaptability, and the value of community support. 

Our greatest milestones include celebrating Ocaquatics’ 30th anniversary and transitioning to a 100% employee-owned company through an employee ownership trust. These achievements are not just markers of success; they are affirmations of our mission’s impact. We now have 165 team members between five year-round, indoor, warm-water locations where we have taught over 2.5 million lessons. 

As we embrace our new identity as a 100% employee-owned company, I am filled with optimism about the future. This transition marks a new chapter for Ocaquatics, with every employee-owner playing a pivotal role in our journey forward. Together, we are committed to deepening our impact on water safety and swim education, leveraging our collective creativity, dedication, and passion. This collaborative approach will ensure that Ocaquatics continues to thrive, making a difference in every life we touch.

To my fellow impact CEOs and those aspiring to make a difference, my hope is that our journey serves as an inspiration. The path to making an impactful change is paved with collaboration, dedication, and a deep sense of purpose. Embrace your values, cherish your team, and remember that the most sustainable path forward is one walked together. We are stronger together. I encourage anyone interested in this space to join a group of like-minded, purpose-driven businesses, such as those that participate in the Real Leaders Membership.