As a seller, you can expect to sign a non-compete agreement that protects the new owner’s interests. A reasonable non-compete agreement will prohibit you from competing within the buyer’s targeted market area for several years. (Your non-compete period will likely last as long as the terms of any seller financing notes.)
In my opinion, non-compete requests may be considered excessive if they seek to prevent you from operating a similar business in a geographic territory that has no bearing on your business’s existing area or the buyer’s reasonably achievable growth plans.
