They are different transactions with different economics. A family transition usually trades price and liquidity for continuity, and it needs the same valuation work so the terms are fair to everyone involved.
More detail
Internal transitions to family or management are common in Carolinas manufacturing and they fail for predictable reasons: the successor cannot finance the purchase at a fair value, the retiring owner cannot actually let go, or siblings who are inside and outside the business have irreconcilable expectations. A defensible independent valuation is the foundation for all three problems. Financing structures exist, including seller notes, SBA-backed purchases, and employee ownership arrangements, and each has consequences for the seller's risk and timeline. The honest question to answer first is whether the successor wants to run the company or feels obligated to, because the second answer costs the family both the business and the relationship.