Category Business Exit Strategy

Thinking about selling your business in 2025? One of the first questions you’ll face is: do I need a broker to sell my business — or can I handle it on my own?

The short answer? It depends.

Selling a business isn’t a one-size-fits-all process. Your decision will come down to your goals, the complexity of your business, and how involved you want to be in the selling process. Here’s what you should consider.

What Does a Business Broker Actually Do?

A business broker is like a real estate agent — but for businesses. They help business owners prepare for sale, attract buyers, handle negotiations, and manage the paperwork that comes with closing the deal.

More specifically, a good broker can:

• Estimate your business’s value

• Create marketing materials and buyer profiles

• Maintain confidentiality while reaching qualified buyers

• Screen leads to avoid time-wasters

• Negotiate terms

• Coordinate due diligence and legal documents

In other words, they wear many hats so you don’t have to.

When Can You Sell Without a Broker?

You can sell your business without a broker — and in some cases, that makes perfect sense.

You might not need a broker if:

• You already have a buyer lined up (like a business partner, employee, or competitor)

• Your business is small and straightforward (e.g., under $100k in revenue)

• You’ve sold a business before and feel confident managing the process

• You want to avoid paying commission fees

Selling without a broker gives you full control. But it also means you’ll need to take on every detail — from pricing and paperwork to negotiation and marketing.

When a Broker Adds Real Value

For more complex or high-value businesses, a broker can be a serious asset. Here’s when working with one pays off:

• You don’t have time. Running your business and selling it at the same time can be overwhelming.

• You’re unsure how to price it. A broker can provide a realistic valuation based on recent deals in your industry.

• You want to reach more buyers. Brokers have access to private databases and networks that aren’t public.

• You want to keep the sale confidential. A broker can advertise your business without revealing its identity.

• You want to avoid emotional decisions. Negotiating the sale of your own business can be tough. Brokers bring objectivity to the table.

In short, a broker doesn’t just find a buyer — they help you get the right buyer, at the right price.

How to Decide If You Need One

Not sure which path is right for you? Ask yourself:

• Do I already have a buyer?

• Can I value and market my business confidently?

• Do I have time to manage the sale?

• How important is confidentiality?

• Am I emotionally prepared to negotiate with buyers?

If most of your answers lean toward “no,” a broker might be worth the investment. But if you’re experienced and ready to DIY the process, going solo could save you money — as long as you’re prepared.

Tips for Finding the Right Broker

If you decide to hire a broker, don’t settle for the first one you meet. Look for:

• Experience in your industry
  Not all brokers understand every niche. Ask about past sales like yours.

• Transparent fees
  Most brokers charge a success fee (usually 8–12%) and some may ask for upfront retainers. Get the terms in writing.

• Strong buyer network
  Ask how they plan to market your business and where they source buyers.

• Clear communication
  You’ll be working closely together, so make sure they’re responsive and trustworthy.

• Good reviews and references
  A reputable broker should have happy past clients who can vouch for them.

Remember: The right broker doesn’t just help you sell — they help you sell smarter.

FAQs About Selling Your Business Without a Broker

Can I sell my business without a broker?

Yes, especially if you already have a buyer or the sale is straightforward. However, going solo means managing everything from valuation to negotiations yourself.

How much do business brokers charge?

Most charge a success fee — often 8% to 12% of the final sale price — and some may also charge upfront fees. Always ask for a clear breakdown before signing anything.

What are the risks of selling without a broker?

You might undervalue your business, miss key legal steps, or struggle to find serious buyers. It can also take much longer without a broker’s network and experience.

Is confidentiality easier with a broker?

Yes. Brokers are skilled at marketing your business without disclosing its identity — which protects your team, customers, and brand while the sale is in progress.

When should I start talking to a broker?

Ideally, at least 6–12 months before you want to sell. This gives you time to prepare your financials, clean up operations, and plan your exit.

Final Thoughts

So, do you need a broker to sell your business in 2025? Only you can answer that. The right path depends on your experience, timeline, and what kind of support you want throughout the process.

Either way, the most important thing is to start early — and do your homework. Whether you go it alone or hire help, the more prepared you are, the better your sale will go.

Selling a business is never just a transaction. It’s a major moment that often comes with big emotions and even bigger decisions. For many small business owners, the first step is figuring out how to approach the sale. Do you hire a broker? Do you go through an agency? Or do you handle the process yourself?

If you’re looking to sell your business without an agent, you’re not alone. Plenty of business owners choose to take the DIY route, whether to save on broker fees, stay in control, or because they already have a potential buyer in mind. While the process can feel overwhelming at first, it’s absolutely doable with a bit of preparation and a clear plan.

This guide breaks down what to expect, what to prepare, and how to move through the steps with confidence.

Why Some Owners Choose to Sell Without an Agent

There are plenty of reasons to sell your business without an agent. For starters, agents often charge a commission that ranges from 8 to 12 percent of the final sale price. If you’re selling a business worth $300,000, that means giving up $24,000 or more just in fees.

Beyond the financial side, some business owners simply prefer to handle things personally. After all, no one knows your business like you do. You’ve built it, managed it, and nurtured its growth. That kind of insight can be incredibly valuable when speaking with potential buyers.

Additionally, many people already have potential buyers in their networks. Whether it’s a longtime employee, a competitor, or a family friend, it’s often easier than you think to find someone interested. Selling your business on your own also allows you to set the pace, decide how much information to share, and manage negotiations directly.

Of course, selling without an agent also means taking on more responsibility. But if you’re organized and ready to do the work, the payoff can be worth it.

What You’ll Need to Sell Your Business Without an Agent

Here’s what you’ll want to have in place before you start marketing your business.

1. Organized Financial Records

Any serious buyer is going to ask for financials. Make sure your books are clean, up to date, and easy to understand. Ideally, you should have the past two to three years of tax returns, profit and loss statements, and balance sheets ready to go.

If you use accounting software, export reports that clearly show trends, margins, and revenue streams. If your books are messy or inconsistent, consider hiring a bookkeeper for a quick cleanup before you begin the sales process.

2. A Realistic Business Valuation

One of the trickiest parts of selling a business is deciding what it’s actually worth. There are several ways to approach this. You can base your valuation on cash flow, assets, or multiples of annual revenue, depending on your industry.

There are online calculators and valuation tools available, but they only go so far. If you’re unsure, it may be worth paying a professional appraiser for a one-time consultation. Getting the price right will help attract serious buyers and avoid long, drawn-out negotiations.

3. A Business Summary or Selling Memorandum

Think of this as your business’s resume. It should include an overview of your operations, what makes your business unique, financial highlights, customer base, marketing strategies, and opportunities for growth.

Keep it professional, but also clear and conversational. Your goal is to help buyers understand what they’re investing in and why it matters.

4. A Plan for Marketing the Business

Since you’re not using an agent, you’ll need to get the word out yourself. Start with online marketplaces like BizBuySell, BizQuest, or Flippa. You can also reach out to local business associations, industry contacts, and even vendors or suppliers who might know of someone looking to buy.

Social media platforms like LinkedIn can be surprisingly effective, especially if your business is B2B. Just be mindful of confidentiality—if you don’t want employees or customers to know you’re selling yet, keep your listings discreet.

5. Buyer Screening and NDAs

Not every inquiry will be a good fit. Before sharing any sensitive business information, ask interested buyers to sign a non-disclosure agreement (NDA). This protects your financial and operational details.

You’ll also want to verify that potential buyers are financially capable of making a purchase. Ask about their funding source early in the conversation to avoid wasting time later.

6. Negotiation and Deal Structuring

When you find a serious buyer, it’s time to negotiate. This includes not only the sale price, but also the structure of the deal. Will it be a lump sum payment? Will you offer seller financing? Are you staying on for a training or transition period?

Be clear about your terms and open to questions. The more transparent you are, the smoother the process will be.

7. Legal and Closing Process

Once you’ve agreed on the terms, you’ll need an attorney to draft the purchase agreement. This is a critical step that protects both sides and outlines exactly what’s included in the sale.

Don’t forget to handle the final administrative tasks: transferring business licenses, changing ownership on accounts, updating contracts, and informing necessary stakeholders.

Taking the DIY Route? You’ve Got This

Choosing to sell business without agent support may feel like a bold move, but for many small business owners, it’s the right one. It gives you control, saves money, and allows you to stay closely involved every step of the way.

With solid preparation and a realistic approach, you can sell your business confidently—and on your own terms. Whether you’ve got a potential buyer already or you’re just exploring your options, take it one step at a time.

You’ve built something valuable. Now it’s time to finish strong and make sure the next chapter starts on the right foot.

Selling your business without a broker, often referred to as For Sale by Owner (FSBO), is an approach that gives business owners complete control over the sale process. While this method requires careful planning and execution, it can save money on broker commissions and provide more flexibility in negotiations. If you’re considering selling your business independently, this guide will walk you through key strategies to ensure a smooth and profitable transaction.

Understanding the For Sale by Owner (FSBO) Concept

FSBO refers to selling a business without the assistance of a broker or intermediary. This approach is commonly associated with real estate, but it is equally applicable to businesses. Business owners choose FSBO to avoid broker fees, maintain control over negotiations, and directly communicate with potential buyers. While this method can be rewarding, it requires knowledge of legal and financial requirements, marketing strategies, and negotiation tactics.

The Advantages of Running a For Sale by Owner Business

Opting for an FSBO business sale offers several advantages:

• Cost Savings: Avoid paying high broker commissions, which can range from 10% to 15% of the sale price.
• Control Over the Sale Process: You decide how to market your business, screen buyers, and negotiate terms.
• Direct Communication with Buyers: Eliminate miscommunication by dealing directly with interested parties.
• Flexibility in Pricing and Negotiation: Set your price based on your valuation and have full control over counteroffers.
• Increased Profit Margins: Keeping broker fees out of the equation means more money from the sale stays in your pocket.

Essential Steps to Launch Your For Sale by Owner Business Successfully

1. Prepare Your Business for Sale
   • Organize financial records, tax returns, and profit-and-loss statements.
   • Assess business assets and liabilities.
   • Address operational inefficiencies to enhance value.
2. Determine the Right Price
   • Conduct market research to understand industry trends.
   • Compare similar businesses sold in your niche.
   • Consider hiring a business valuation expert for accuracy.
3. Develop a Sales Strategy
   • Decide whether you’ll sell assets or stock.
   • Prepare an exit strategy and timeline.

Marketing Strategies for Your For Sale by Owner Listings

1. Leverage Online Platforms
   • List your business on popular FSBO websites and business-for-sale marketplaces.
   • Optimize your listing with clear descriptions, financial highlights, and professional images.
2. Utilize Social Media
   • Promote your listing on LinkedIn, Facebook, and industry-specific forums.
   • Engage with potential buyers through Q&A sessions and business insights.
3. Host Open House or Virtual Tours
   • Schedule private showings for serious buyers.
   • Offer virtual tours for remote buyers to expand your reach.
4. Use Signage and Networking
   • Attend industry events to connect with potential buyers.
   • Inform suppliers, customers, and industry peers about the sale discreetly.

Navigating Legal and Financial Aspects of Selling Without an Agent

1. Understand Legal Requirements
   • Prepare a Non-Disclosure Agreement (NDA) to protect sensitive business information.
   • Draft a Letter of Intent (LOI) outlining the terms of the sale.
2. Handle Contracts and Disclosures
   • Work with an attorney to draft an asset purchase agreement or stock purchase agreement.
   • Ensure compliance with tax regulations and employee transition laws.
3. Plan for Closing Costs and Fees
   • Anticipate expenses like attorney fees, transfer taxes, and loan payoffs.
   • Negotiate terms of payment (e.g., lump sum, seller financing, earnouts).

Tips and Tricks from Successful For Sale by Owner Entrepreneurs

• Learn from FSBO Success Stories: Read case studies of business owners who successfully sold without a broker.
• Avoid Common Pitfalls: Don’t overprice your business, neglect financial records, or ignore buyer screening.
• Master Negotiation Tactics: Be prepared to justify your asking price, remain patient, and be open to structured deals.

Conclusion: Take Charge of Your Business Sale with FSBO

Selling your business as a For Sale by Owner venture allows you to maximize your profits and maintain control over the process. By preparing thoroughly, marketing strategically, and handling legal matters properly, you can navigate the sale with confidence. If you’re ready to take the next step, start organizing your business for sale today and explore your options for attracting the right buyer.