A business broker helps an owner sell a business by listing it, finding buyers and managing the sale. Before you sign with one, ask whose side they are on, who sets the asking price and how they'll get buyers competing.
Exit Advisor is a sell-side M&A advisory and business brokerage firm that helps owners of profitable businesses sell, in the US and internationally.
What Does a Business Broker Do?
Most business brokers value the business, write a listing, market it to buyers, screen inquiries, collect offers and coordinate the sale through closing. Many work with smaller main street businesses and list them on marketplaces.
Questions to Ask a Business Broker Before You Sign
- Whose side are you on, and do you ever represent the buyer in the same deal?
- Who sets the asking price, you or me?
- Where will my business be marketed, and to which buyer types?
- How many active listings do you handle personally?
- How long is the listing agreement, and is there a tail period?
- What have you sold that looks like my business?
How to choose the best business broker and exit advisor
Business Broker vs Sell-Side M&A Advisor
| Typical business broker | Exit Advisor (sell-side) | |
|---|---|---|
| Represents | Varies; some work both sides | Only the seller |
| Asking price | Often set by the broker | Set by the seller |
| Buyer search | Listing on marketplaces | Several buyer types worked at once |
| Preparation | Light | Financials, positioning and buyer questions prepared first |
Exit advisor vs business broker
Business Broker FAQs
Do I need a business broker to sell my business?
No, but most owners without a buyer lined up use a broker or advisor to reach more buyers and protect the price. Can you sell your business without a broker?
Is Exit Advisor a business broker?
Exit Advisor is a sell-side M&A advisory and business brokerage firm. Unlike many brokers, we represent only the seller in every deal, and the seller sets the asking price.
What does a business broker charge?
Brokers usually charge a success fee when the business sells. Exit Advisor's success fee is typically 5% to 15% depending on the business, with no upfront fees.