Some business owners intend to sell their businesses to key employees, partners, or family members in order to ensure that their legacy continues. Other owners may not have the option to sell externally and must create an internal sale path in order to "cash in" on their business and move to the next stage in their lives.
It is important to realize that selling to an insider is not as simple as handing over the keys and cashing the check:
- Won't my business partner just buy me out?
- Where will the money come from?
- How do I fairly compensate family members that aren't in the business?
- What happens if I give up control?
- What if I can't net enough money from the sale?
- Do I still need to worry about tax consequences?
- Who is capable of taking my place?
It doesn't matter whether you are planning to sell to family members or an existing partner, selling to an insider is a process – not an event. Learn what you need to know by downloading our free guide.
