Business owners often have a lot of options related to this topic of selling a business. It is a myth that the sole option is to sell only to third parties.
There are multiple possible buyers for a closely-held business. Some of the most common possible buyers are:
- A strategic buyer, such as a competitor
- A buyer who sees a financial opportunity
- Management Buyouts (MBO)
- Family Members
- Employee Stock Ownership Plan (ESOP)
- Private Equity Groups (PEG)
- Initial Public Offering (IPO)
- Etc.