Buying or selling a small business is a multi-stage process that requires careful financial valuation, rigorous legal due diligence, and strategic negotiation to ensure a successful transition of ownership. Overview of the Buy-Sell Process

: Both parties negotiate the purchase price, timing, and specific terms like non-compete agreements.

: A buyer conducts a preliminary review and submits a conditional offer.

The private sale of any business generally follows a structured procedure to mitigate risks for both parties.