I promised you some thought starters for those of you who want to get out of your business: retirement, diversification, bored, for whatever reason. Hopefully you read my post around selling to an outsider, now here are some significant considerations for those of you who want to pass the business to children, siblings, or the in-laws who married your daughters.
If you want to pass the business to members of your family, think about these issues:
My next post on this subject, and the last in this series, will be about turning the business over to your employees – perhaps the most challenging of all options. Stay tuned.
As always, I welcome your comments and feedback.