There are only four of them, but if they are all met, your project has a strong chance of being successful.
Then, it is best to forget about transferring your business into a worker cooperative. In fact, transferring your business into a worker cooperative rests on a very basic idea: the best persons to take over from you are, logically, those who have helped you accumulate your assets.
You both know each other very well; over time, trust has developed between you and you believe that they have also contributed to your success. This will never be the case with a third party.
In a worker cooperative, it does not mean that because the worker-members will become the owners of the business, that it does not need a leader.
Like all businesses, someone has to make the decisions and bear responsibility for them.
However, do not look for someone who resembles you, who would have all the qualities that have made you the entrepreneur that you have become.
All you need is an employee, undoubtedly, one who is already a senior-level manager and has demonstrated to you, as well as the other employees that they possess great listening and teaching skills and a certain authority, for the principles behind the worker cooperative to do the rest.
For the chosen man or woman who will accept to take up the gauntlet, wherever they fall short, the participative management of the worker cooperative and the collective desire to succeed will compensate for this. And do not forget the training (management, finance, cooperative management, etc.) that can be provided, if necessary.
Are you only interested in the value of your business? In this case, perhaps transferring the business into a worker cooperative is not fully meant for you. Not because you would not obtain a fair selling price. But, by limiting the transfer to a mere financial transaction, you miss other difficult-to-quantify advantages that will bring you security and satisfaction, which should be taken into account. (See “Why transfer your business to your employees”)
It is up to you to compare these two investments in terms of time.