The economics of a small sale are different in one specific way: the work an intermediary does is roughly the same whether the price is two hundred thousand dollars or two million, so firms protect themselves with minimum fees. That is why the percentage a small seller pays is often far above any published rate.
Get quotes to sell my business
The minimum is the real rate
A firm quoting 10% with a minimum of twenty five thousand dollars is charging you 10% only above two hundred and fifty thousand dollars. Below that the minimum governs, and on a business selling for a hundred and fifty thousand it is a quarter of the price. Ask for the minimum in writing at the first meeting; it is the number that decides whether the route makes sense.
The routes that avoid it
Self service marketplaces charge listing fees measured in tens of dollars and leave the work with you. Selling to a known buyer, a manager, an employee or a competitor you already deal with, removes the marketing entirely and turns the cost into legal and accounting fees. Both are legitimate and both are common at this size.
What still has to be paid for
A lawyer to draft or review the purchase agreement, an accountant for the add back schedule and the tax position, and possibly an escrow agent. These are a few thousand dollars and are not the place to economise: the cheapest expensive mistake in a small sale is a home made agreement with no protection in it.
What a small business actually sells for
Small businesses trade on a multiple of seller's discretionary earnings rather than a corporate earnings measure, and the multiple depends on how much of the earnings survive the owner leaving. A business where the owner is the salesperson prices low no matter how good the profit line looks.
Questions people ask about sell my small business
Is a broker worth it for a small business?
Sometimes. If you have no idea who would buy it and no time to find out, yes. If you already know two or three likely buyers, a lawyer and an accountant cost far less and do the part that matters.
Can I sell a business with no employees?
Yes, and it is often easier: no transfer questions and no retention risk. The buyer's concern moves to whether the revenue is yours personally rather than the business's.
What paperwork is unavoidable?
A purchase agreement, a bill of sale or share transfer, any lease assignment or license transfer, and the tax filings that follow. Everything else is negotiable.