What is the best way to sell a business interest

DWQA QuestionsCategory: Business QuestionsWhat is the best way to sell a business interest
Juan asked 1 year ago

I have decided to sell my part of the business I am a partner in. It is a food truck. My friend and I bought it 3 years ago. We each put in $5000 to buy it. We are not making much money and things break a lot. I want out but my friend won\’t give me anything. Can I sell my half?

1 Answers
Chris Reich Staff answered 1 year ago

If there is nothing in the partnership agreement preventing you from selling your share of the business, you can. I always recommend getting consent from the other partner or partners. Why? Because the new partner will want to start with a positive relationship. Also, if your partner is hostile, who would buy your share? It\’s ALWAYS best to do things peacefully. ¬†