You have decided to make proper plans for leaving your business, but you are still asking

yourself the big question.

Whom do you transfer it to?

If you feel someone in your family (son, daughter, nephew or niece) is ready to take over from you, you already have the answer.

You will prepare for your departure with that person. But if you do not have a family successor, or if the potential family successor is not interested, then your question is still unanswered.

Do you sell it to one of your executives? If your business is big enough to have an executive team, though, are you sure one of them has the fortitude and desire to take over? If you are your business's only leader, do you sell it to a stranger in your region and hope for the best?

You will need to ask yourself, "Will that person want to keep the business and make it prosper, or will he move it elsewhere, or close it down for the sole purpose of keeping your customer base?"

Finding the right buyer is not an easy task. That is why we are suggesting a tried and true solution that will enhance your business's prospects for continued prosperity after your departure: a co-operative solution.

There are, in fact, many forms of co-operative alternatives for transferring a business.