Selling to Family vs. Selling to a Third Party: What’s Best for Your Legacy?

For many owners, deciding who will take over their business is the single most important choice they’ll ever make. It’s not just about the numbers—it’s about legacy, relationships, and peace of mind. Should you pass the torch to family or sell to an outside buyer? The right answer depends on your goals, values, and vision for the future.

Selling to Family:

• Pros: Keeps the business in the family, preserves culture, and can feel deeply rewarding.
• Cons: Risk of strained relationships, questions of fairness among heirs, and uncertainty about readiness.

Selling to a Third Party:

• Pros: Often results in higher financial offers, access to growth resources, and a clean separation.
• Cons: Less control over the future of the business, potential cultural shifts, and more complex negotiations.

Key Takeaway:
The best path forward isn’t always obvious. The earlier you start the conversation, the more options you have—and the more confident you’ll be in your decision. Dietz NextStage can guide you through the financial and emotional factors of each choice so your next chapter feels right on every level.

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