Letting go of a small business involves more than finding a buyer and signing documents. It usually means organizing financial records, understanding what your company is worth, deciding who should help you, and managing the emotional side of the sale. Exploring the main options in advance can reduce stress and improve the outcome, whether you are in the United States or elsewhere in the world.

Business broker services for small owners

Business broker services are often the first option small business owners consider. A broker acts as an intermediary, helping you prepare the business for sale, create marketing materials, approach potential buyers, manage confidentiality, and support negotiations.

Many brokers specialize in specific sectors, such as restaurants, professional practices, or local retail. Others focus on certain deal sizes, for example very small owner-operated firms or larger lower mid-market companies. When evaluating a broker, check their experience in your industry, their track record with similar deal values, their marketing approach, and how they screen buyers. In most regions, brokers earn a success-based fee when the deal closes, sometimes with a smaller upfront engagement fee, so make sure the agreement and expectations are clearly written.

How to sell a business in the US and worldwide

The basic steps for how to sell a business in the US are broadly similar to processes used in many other countries, even though laws, taxes, and paperwork differ.

Common stages include:

1. Clarify your goals: decide whether you prefer a fast sale, the highest possible price, or continuity for employees and customers.
2. Prepare documentation: organize at least three years of financial statements, tax filings, major contracts, leases, customer and supplier lists, and key operational procedures.
3. Decide on an asset sale or share sale: depending on local regulations and tax rules, you may transfer only the business assets or the whole legal entity.
4. Market the business: confidentially share a blind profile, then provide a non-disclosure agreement before releasing detailed information.
5. Negotiate key terms: price, payment structure, transition period, and any seller financing or earn-outs.
6. Due diligence and closing: the buyer reviews records in detail, legal documents are prepared, and ownership is formally transferred.

Outside the US, similar principles apply, but requirements for licenses, employment transfers, and tax clearances can vary widely. Local legal and accounting advice is essential.

Understanding the business valuation process

The business valuation process helps you form a realistic view of what your company might be worth to a buyer. While only the market can confirm an actual sale price, valuation provides a structured starting point.

Common methods include:

• Asset-based approach: relevant where tangible assets such as equipment, vehicles, or property make up most of the value.
• Income approach: focuses on future cash flows and the risk associated with achieving them, often using discounted cash flow or capitalization of earnings.
• Market approach: compares your business to similar companies that have sold recently, using multiples of revenue, profit, or cash flow.

Valuation should also account for customer concentration, dependence on the owner, brand strength, intellectual property, and local economic conditions. Many owners choose to obtain an independent valuation report from a qualified appraiser, broker, or mergers and acquisitions advisor before starting negotiations.

Finding a mergers and acquisitions advisor

For larger small businesses or lower mid-market companies, finding a mergers and acquisitions advisor can be more suitable than working with a traditional local broker. M&A advisors and investment bankers typically handle higher-value or more complex transactions, including cross-border deals.

Key points when selecting an advisor include:

• Sector experience: understanding your industry jargon, business cycles, and typical buyer profiles.
• Deal size focus: alignment between your expected valuation and the advisor’s usual transaction range.
• Global reach: ability to contact both strategic buyers and financial investors, possibly in multiple regions.
• Team and process: depth of the advisory team, quality of marketing materials, and structure of their sale process.

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Provider Name	Services Offered	Key Features/Benefits
Sunbelt Business Brokers	Small business sales, valuations, buyer search	Large network of local offices focused on smaller companies
Transworld Business Advisors	Business brokerage, franchising, valuations	Combines brokerage with franchise expertise, international reach
VR Business Brokers	Business sales, valuations, consulting	Long-established brand serving main-street and mid-sized firms
Houlihan Lokey	M&A advisory, valuations, restructuring	Strong mid-market focus and sector-specialized teams
KPMG Corporate Finance	M&A advisory, due diligence, valuations	Global professional network with cross-border deal experience

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Selling a family business checklist

Selling a family business can present additional challenges, because ownership, management, and family relationships are often closely linked. A clear checklist helps reduce misunderstandings and preserve relationships.

Typical elements of a selling a family business checklist include:

• Agree on shared objectives among family stakeholders.
• Clarify roles during the sale process, including a single point of contact for advisors.
• Review shareholder agreements, succession plans, and any restrictions on share transfers.
• Separate personal and business expenses in financial statements.
• Decide whether family members will remain in the business under new ownership.
• Plan communication with employees, key customers, and suppliers.

Some families also hold facilitated meetings with neutral advisors, such as mediators or family business consultants, to discuss sensitive topics like legacy, control, and expectations after the sale.

Company transfer steps from offer to closing

Once you receive an acceptable offer, formal company transfer steps begin. While specific procedures differ by jurisdiction, certain building blocks are common.

First, a non-binding term sheet or letter of intent outlines the main commercial terms. Next, the buyer conducts detailed due diligence, examining finances, legal matters, operations, and technology. During this stage, prompt and organized responses from the seller can maintain trust and keep the transaction on schedule.

Lawyers then draft definitive agreements, which may include a purchase agreement, ancillary asset transfer documents, employment or consulting contracts, and non-compete clauses. Conditions to closing can involve regulatory approvals, landlord consents, bank approvals, or release of personal guarantees. Finally, at closing, funds and ownership documents are exchanged, and practical handover begins, such as transferring bank accounts, software licenses, domain names, and key vendor relationships.

In summary, selling a small business is a structured process that can involve business broker services, the business valuation process, and possibly a specialized mergers and acquisitions advisor. With a realistic understanding of how to sell a business in the US and other regions, a thoughtful selling a family business checklist, and well-planned company transfer steps, owners can navigate this transition more confidently and with fewer surprises.