Selling Your Business: Your Questions Answered

For most owners, the business is their largest asset and a big part of who they are. I've been a business owner since I started my first company at 19, so I understand what's at stake. Here are the questions owners ask us most often.

When should I start planning to sell?

Ideally three to five years before you want to exit. That gives you time to strengthen the business, organize financials, reduce the company's reliance on you, and put tax strategies in place that can't be done at the last minute.

What is my business worth?

Value depends on earnings, growth, customer concentration, the industry and the type of buyer. A professional valuation gives you a realistic starting point. Just as important is knowing what you need from a sale to fund the rest of your life: the number that makes the deal work for you.

Who might buy my business?

Common buyers include outside companies, private equity firms, key employees or management, and family members. Each brings different prices, terms and timelines, and each affects your employees and community differently.

How will the sale be taxed?

It depends on how the deal is structured. An asset sale and a stock sale can produce very different tax results, and the way the price is allocated matters. Installment sales, charitable strategies and other techniques may help, depending on your situation. We work alongside your CPA and attorney so the tax plan is set before the deal is signed.

What happens to my employees?

Many owners care deeply about the people who helped build the company. Options such as a sale to management or an Employee Stock Ownership Plan (ESOP) can keep the business local and reward employees. We can help you weigh those goals alongside price.

Can I pass the business to my children?

Yes, but a family transition needs careful planning: fairness to children who aren't in the business, gift and estate tax rules, and making sure the next generation is ready to lead. Gradual transfers and trusts are common tools.

What should I do with the proceeds?

After years of having your wealth tied up in one company, you'll likely have a large sum to manage at once. We help you build an income plan for life after the sale, diversify thoughtfully, and coordinate with your estate plan.

What will I do after I sell?

It's a question many owners don't ask until after closing. Thinking about your next chapter, whether that's work, family, community or travel, helps shape both the deal and the financial plan.

Who should be on my team?

Typically a CPA, a business attorney, an investment banker or business broker for larger transactions, and a wealth manager to tie it together. We coordinate with your advisors so everyone is working toward the same outcome.

Thinking about selling, now or someday? Call LWM Loeffler Wealth Management at 815-326-9037 for a confidential conversation.

This information is for general educational purposes only and is not intended as tax, legal or investment advice for any individual. Consult your tax and legal advisors about your specific situation. Tax laws and figures cited are as of 2026 and are subject to change.