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Terry Nelson, CFP®, ChFC®, CASL, LUTCF®
Olmsted Financial Group
3428 Lakeridge Pl. N.W., Suite 120
Rochester, MN 55901
Phone: 507-281-1262
Cell: 507-250-3967
Fax: 507-281-9131
September/October 2025
Deciding to Sell a Family Business
Selling a family business can be an emotional and complex process. You've likely poured your heart, soul, and years of labor into building something special. Before jumping into the sale, keep these things in mind.
Don't Rush Things
Ensure the business is in tip-top shape. Optimize your operations, settle any debts, and clean up financials. Next, think about the timing. Is the market favorable for selling in your industry? You don't want to rush just because you feel it's time. Make sure you capitalize on the right moment.What's Your Motivation?
Have a clear idea of what you want from the sale. Is it all about maximizing profit? Or do you want to ensure the business is left in good hands? Your motivations will guide the deal.Executing the Sale
A financial advisor specializing in mergers and acquisitions can provide invaluable advice and help you navigate the complexities of selling a family business. This could save you headaches and potentially increase your selling price. Transitioning a family business isn't just a financial transaction; it's about preserving a legacy, so take your time to figure out what's right for you and your family.752220
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