Should I sell my business?


Hello, I co-own a business (B2B medical writing service) that brought in $1.5 million in revenues in 2018. This was a 17% increase over previous year. Profits are around 30%. I founded the business in 2000 and sold 50% to a business partner in 2015. Although the business has doubled since 2015, the partnership is very inequitable and we have different values. I literally can’t let her near any of the contractors because she runs them off. I’ve “bent over backwards” mentally to not have the situation implode over the last 3 years and it’s just not a fair set up to me based on the work I do. Also I owe about 250k in personal debts that I could wipe out immediately with a sale. Obviously this debt is really stressing me out. I have skills that would enable me to generate a good income after the sale. I am leaning towards selling my 50%. It should be worth over $1M. The reason for not selling is that the business could grow. However, I trust in my ability to start something else and be a solo owner this time. I will also have to deal with a strong feeling of loss because I love the business that I founded like a child. I worry that I will regret “what could have been”. My business partner will not like the idea of selling at this time and will object/obstruct so that will be a hassle to overcome too. I am leaning towards selling though. Would welcome your thoughts.