You can sell the entire business or just part of the business. Often the purchaser will want you to retain a small ownership in order to ensure a smooth transition to the new owner.
You can wind down the business and sell the components separately, sell the assets such as equipment to one buyer, the intellectual property to another buyer, the customer list to another. Is your business relocatable? If it is, the new buyer may not need your employees or your facility therefore selling the parts of the business may be a reasonable option.