Selling a Business on the Open Market
Sometimes business owners can sell to an entrepreneur looking for a new opportunity. Sometimes hiring a business broker can accomplish the goal. Maybe selling to a competitor, customer or supplier is a viable option to consider. Selling your business to an outside buyer is challenging, nerve wracking, and requires careful planning, but, if it’s possible, it can offer the cleanest break.
Resources about third-party sales
6 Things You Must Know When Selling Your Business to a Third Party
from Entrepreneur
9 Questions You Should Ask Before Hiring a Business Broker
from Entrepreneur
Thinking About Selling Your Business? Address Human Capital Issues Head On
from Chief Executive
Advantages, Challenges and Dangers for Business Owners in Third-Party Sales
from SVA Certified Public Accountant
7 Tips for Choosing a Business Broker
from American Express
Business Owners and Third-Party Sales: Pros and Cons
from BEI Exit Planning Solutions
Selling Your Business to a Family Member
Continuing your legacy through a transition to the next generation of the family can be very rewarding, particularly if your children are already involved in the business. However, the strategy comes with a host of unique challenges and the frequency and success rate of family transitions has been on the decline for decades. Maintaining family harmony can be particularly challenging when there are multiple children and a business owner needs to make decisions about what role each of them should play going forward.
Resources about family business transitions
How to Transfer Your Business to a Family Member
from Exit Adviser
Family business transfer involves multiple steps
from Family Business Magazine
Selling a Business to Your Employees
Sometimes the best option is right under your nose. Employees know the business, know the customers and know the processes. With some training and business education, they could be your best bet to transitioning the business.
There are a number of employee-ownership models. Check out our Employee Ownership Resource page to learn more your options!
