Buying out a partner

[Pipermynt]

I have a small cleaning business with a friend. I'll be moving out of state due to husbands job.
I need to know how to go about her buying me out. How do I figure how much she pays?
Thanks Gayle
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[Moe from MO]

This is not really a legal question -- if you have a written agreement, whatever it says governs. If you have no agreement, then what is fair? What is it worth? What are the assets of the business worth in their current condition? What is the cash flow and profitablity of the business? For example, assume you had to hire two capable persons to replace yourselves and pay them salary and bonuses and expenses and benefits so they would manage the business. After that,how much is the profit? What could you sell it for to others? Have you spoken to a business broker? Your accountant?