April 3, 2025
The Contest Route: A New Way to Sell Your Business
Some business owners are opting for a unique approach to selling: contests. Faced with the stress and expense of traditional sales, owners of businesses like a cupcake bakery, a goat farm, a movie theater, and a bed and breakfast are hosting contests where entry fees can cover debts or equipment costs, and the winner receives ownership. While this offers a chance to pass the business to someone passionate and invested, it also presents challenges for both the former owner, who risks the business closing if there aren’t enough
