You may also think it might just be your free ticket for you and your family towards financial freedom.
Unfortunately, there might be some pitfalls along the way that you need to take in consideration and be prepared for.
What if, one of the business owners dies or becomes disabled or suddenly suffers from a serious disease?
What impact will it have on the business as well the owners families?
Each option carries consequences for each family, which one do you think is the most important one that you think you need to consider and be prepared for?
- Keep it.
- Sell it.
- Liquidate it.
“One Option is to keep the business in the family.
Is that a possibility?”
“Another popular option is to sell the business as a going concern.
Would you want to sell your share of the business to other owners and have them buy out your family members?”
“The third option is to close the business and sell the assets for cash.
How does this sound for you?”
Although not easy I urge each and every business owner to ponder on this option and to take the necessary step.