Preparing the Family Business for SalePreparing the Family Business for Sale

For most business owners, the sale of a business is a once-in-a-lifetime event. Without experience in this transaction, the owner likely begins the process with uncertainty and trepidation. While a great deal is at risk for any business owner, the owner of a family business has added pressures. Whether there are additional family members with ownership interests or relatives who are key employees, family ties require an extra amount of care when selling the business. To ensure the family addresses all concerns and receives the maximum value for the business, the family should take certain steps to prepare the business for sale. In the same way a homeowner prepares his home to be sold by making repairs, removing clutter and staging the ho...