I am owner of a portion (5%) of a small business. I acquired my shares as 'sweat equity' being the creative lead on the project. Essentially, I want to get cash for my shares. At this point in my life I don't really want to be a business owner, but money in the bank would be nice. What are some ways I can go about doing this?
Can I post it on Craigslist? Can I use it as a collateral to get a loan or something?
I have already tried selling to the main shareholder, but they're not willing/able to buy at the moment. I've also tried selling to some other shareholders/ people associated with the business but the most I've done is offload a single share at under the appraised value.
A bit about the business:
It is an entertainment business located on a main street in a city in California, USA. It has been open over 2 years now and has been profitable for most of its existence. It is well run and the majority shareholder generally does what the other shareholders advise. It seems like a solid little thing with a lot of potential for growth. I'm just not a business owner.
Any advice would be greatly appreciated.