Plenty of small businesses sell without a business broker. Doing it yourself saves the broker's fee and keeps the process more private, but you take on the work a broker would do. Here's how to do it well.
1. Set a defensible price range
Calculate seller's discretionary earnings and gather support for every add-back. Our estimator gives a rough range; a CPA or independent valuation can firm it up.
2. Decide who your likely buyers are
- A direct buyer who acquires local businesses (like us).
- A competitor or a company in an adjacent trade.
- A key employee or family member.
- An individual buyer looking to own a business.
3. Protect confidentiality
Use an NDA before sharing details, share financials in stages, and screen buyers for seriousness and ability to pay.
4. Prepare a short information package
A few pages: what you do, where, how long, team, customers (without names at first), summary financials, equipment, real estate, and why you're selling.
5. Negotiate a letter of intent
The LOI covers price, structure (asset or stock sale), cash at closing, any seller financing, your transition role, and a timeline. It's usually non-binding on price but may bind confidentiality and exclusivity. Have your attorney review it.
6. Handle due diligence
The buyer verifies financials, contracts, licenses, equipment and liabilities. Organized files make this faster and keep the price from slipping.
7. Close with professionals
Even without a broker, use a business attorney for the purchase agreement and a CPA for tax structure. In Florida, also plan for licenses (contractor qualifier), local business tax receipts and any sales tax questions.
When a broker may still make sense
If you want the widest possible market and don't mind a longer, more public process, a broker can help. Many owners talk to a direct buyer first to compare.
This guide is general information, not legal, tax or financial advice. Consult your own attorney and CPA.