Selling Your Life's Work? 3 Questions to Ask the Person Across the Table

For most business owners, a sale isn't just a financial transaction; it’s the final chapter of a decades-long story. You aren’t just selling assets and cash flow; you are handing over your reputation, your customer relationships, and the livelihoods of the employees who helped you build them.

When you are evaluating potential buyers, the "number" on the Letter of Intent is important, but it doesn't tell the whole story. To truly understand what the future holds for your business, look past the price and ask these three questions:

1. "Who will be sitting in my chair on Monday morning?" With many buyers—especially private equity firms or competitors—the answer is often unclear. They might install a mid-level manager, merge your team with another department, or try to run things by spreadsheet from a skyscraper in New York. At Edgewood Legacy, the answer is simple: Me. I am buying a business to lead it, not to add it to a portfolio. I will be there on Day 1, ready to work.

2. "What is your timeline?" Most investment firms operate on a strict 3-to-5-year clock. They are incentivized to cut costs, dress up the financials, and sell the business again as quickly as possible. Our timeline is indefinite. We are looking for a company to grow for the next 10, 15, or 20 years. Our interest is in long-term value, not short-term flips.

3. "What happens to my team?" This is often the hardest question for traditional buyers to answer honestly. Synergies often mean "redundancies" (layoffs). Our goal is different. We are looking for a business that is already winning. We need your team’s institutional knowledge and experience to keep winning. We do not aim to replace them; it’s to give them the resources and leadership they need to take the next step.

If you want a successor who cares about the "who" and the "how" just as much as the "how much," let’s start a conversation.