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.