Guides
Plain answers for owners thinking about selling.
What buyers look for, what your business is really earning, how a sale works, what the deal terms mean and what to fix first. Written by people who have been on both sides of a sale.
Start here
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How to sell a small business: the steps, in order
The nine steps to sell a small business, in order: what to prepare, how to find a buyer, how the deal works and what buyers and lenders check.
9 minute read -
Exit planning for a small business: what it is and when to start
Exit planning is deciding when and how you leave your business. See your options, a rule-of-thumb timeline and a one-page plan to fill in.
7 minute read -
Checklist for selling a business: how to prepare it for sale
A checklist for selling a business: the five things buyers and their lenders check, what to fix before you list, and planning times for the main tasks.
6 minute read -
How long does it take to sell a small business?
Brokers say smaller businesses averaged six to ten months from hiring a broker to closing in Q2 2026. See each stage, what slows a sale, and how to plan.
6 minute read -
Why won't my business sell? The usual reasons, and what to fix first
In a 2022 broker survey, the top reason deals didn't close was a price above what buyers will pay. See the other reasons and what to fix first.
6 minute read -
Selling a business by owner or with a broker: fees, pros and cons
How business brokers charge, what selling it yourself involves, and when each route fits. With a comparison table and questions to ask before you sign.
8 minute read
Your numbers and your price
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What is seller's discretionary earnings (SDE)? How to calculate it
What SDE means, the formula, where each number sits on your tax return, two worked examples and the multiples brokers report for small businesses.
7 minute read -
SDE vs EBITDA: which one will a buyer use to price your business?
SDE adds back all of the owner's pay. EBITDA charges a market wage for the job. See one business priced both ways, and which number your buyer will use.
7 minute read -
Add-backs when you sell a business: what buyers accept
Which add-backs buyers and lenders accept when you sell a business, which they reject, and a sample schedule showing how to document them.
6 minute read -
What is my business worth? How to value a business for sale
How to value a small business for sale: the main methods, broker-survey multiples by size for Q2 2026, a worked example and what moves your price.
7 minute read -
What is a quality of earnings report, and do you need one to sell?
A quality of earnings report tests whether your profit is real. See what it covers, who pays, what it costs, and when an SBA lender requires one.
7 minute read
A business a buyer can rely on
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How to make your business run without you
Buyers tend to pay less for a business that depends on its owner. See how they test for it, what an SBA loan changes, and a twelve-month plan to reduce it.
5 minute read -
Customer concentration: how much is too much when you sell?
Customer concentration: how buyers and lenders react when one big customer drives your sales, and what to do first, with or without time to fix it.
6 minute read -
Documents needed to sell a business: the due diligence list
The documents a buyer and their lender ask for in due diligence when you sell a business, what the lender checks itself, and the order to release them.
6 minute read
The deal
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Letter of intent to purchase a business: what's in it and what to negotiate
A buyer's letter of intent sets the price and terms before the contract. See what each term means, which parts bind you, and what to ask before you sign.
8 minute read -
Asset sale vs stock sale: what's the difference when you sell a small business?
In an asset sale the buyer picks what it takes. In a stock sale it buys the company. See how each treats debts, contracts and tax, and how an LLC fits.
7 minute read -
Seller financing when you sell a business: how a seller note works
How seller financing works when you sell a business: share of the price, what goes in a seller note, SBA standby rules, tax and risks.
8 minute read -
What is an earn-out when you sell your business?
An earn-out is part of your price paid after closing, only if the business hits agreed targets. See how it works, how common it is and the risks to check.
7 minute read -
Selling to a buyer with an SBA loan: what changes for you
If your buyer uses an SBA loan, the lender's rules shape your sale: tax checks, valuation, seller notes, earn-outs and what role you can keep afterward.
7 minute read