What are my options besides selling outright?

Hiring a president or COO to run daily operations lets you step back from the business while retaining ownership, giving you both income and optionality. It's a slower transition, but it can also let you test whether the business truly runs without you before committing to a full sale.

A partial or minority sale brings in a partner, often private equity, who can provide both capital and outside expertise, while you retain a meaningful stake and some control over direction.

An ESOP, an employee stock ownership plan, transfers ownership to your employees over time, often with real tax advantages for the seller, and can be a way to reward the team that helped build the business while still ultimately stepping away.