A business model being used more often these days is for the Buyer to purchase 70%. The Seller retains 30% and stays on in whatever capacity they are most comfortable. Where required they provide a smooth transition to industry and customer relationships, while sharing their vision and insights for the potential of the business.
As the company increases in value the Seller will enjoy the benefits the new Owner brings to the table. At a predetermined time the remaining 30% is then sold to the new Owners or both parties together sell to another Buyer. Ideally at a much improved value. It's a win win.
There are many ways to transition a business. This is just one. It is in your best interest as the Seller to explore multiple sales opportunities available to you.
As usual, we are a phone call or email away and ready to help. Good luck.
Eric Gilboord email@example.com or 416-270-2466