This is another popular question that most business owners ask, but many of the answers tend to generate a significant amount of emotion for all of the parties involved. But you should know…WHO will be buying the business may have as much to do with the VALUE and the amount and type of work you’ll need to do before the sale is complete.
- Identify WHO You’d Like to Buy Your Business. This isn’t the time for you to WISH. This is time for some honest communication. Just because someone once said “it might be nice to own a business” doesn’t mean they are ready, willing and able to make it happen. If you don’t have anyone who is interested – don’t worry. That’s what business brokers and your Transition team are for. But knowing WHO you want to buy the business will help us determine the path of least resistance and where will will need to spend our time in the early stages of the Exit Planning process.