The sale of a business can be one of the most difficult phases for a business owner who has spent long hours and great effort building a successful business. However, sale of a business is sometimes the best option, especially for owners who can no longer provide the attention needed to keep the business thriving and who don't have a family member or friend to take over and continue the legacy they started. It is important to note that business sales and dissolutions do not happen overnight. The process takes time and great effort to complete.
The decision to sell a business may stem from boredom, illness, death, being overworked, partnership disputes or retirement. Whatever the reason behind the sale, business owners have to prepare themselves because the process may not run smoothly if not handled properly. The sale of a business typically requires assistance from an attorney, an accountant and a broker. These professionals can help ensure that the business owner sells the business legally and for the right price.