I spoke to a business owner who was worried that she would be unable to operate the business if her elderly husband became sick. Her business was in a small town therefore the number of prospectiver buyers were few. Do you wait until the husband becomes sick before selling the business? If you cannot operate the business when one is sick, the selling price will be a fraction of fair market value. It will now be a distress sale. It is better to sell in an orderly manner then to wait until the last minute and thinking that you can sell the business in a day when you are ready.
This article are provided for information purposes only, and are not intended as legal advice.
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