Selling a business is extracting maximum value from it so you can secure a comfortable retirement for you and your family. There are many pitfalls, but also many ways you can boost the value before you call the business broker.
It is important to start early so that you do not have to rush this. First of all, if the buyer is financing a portion of the sale price, the lender will want to look over at least a few years of financial statements to see if it can generate enough income to pay off the debt and provide for the new owner and his family.
Second, you do not want to have to do this while you are being distracted by buyers and their many questions. You will want to have it done ahead of time.