Step-by-step instructions
Log in to your google account & search your business on Google search tab.
Alternatively directly Sign in to your Google Business Profile.
Click on "3 dots" that are visible on the right hand side of your profile.
Select the "Business Profile Settings" option from the drop down menu.
Now, click on "Remove Business Profile" tab.
Under the "Remove Business Profile", select "Stop Managing this profile" option.
Now to transfer the ownership, click on the "Add" button & add the email ID of the person for "ownership" transfer.
After adding the email ID of the person whom you want to transfer the ownership to, select the access as "Owner".
Now, Click on the "Invite" button. The ownership will be transferred once the invite is accepted by the invitee.