Owner’s guide
How to Sell My Business (Owner Checklist)
“How do I sell my business?” usually means three jobs at once: know a defensible range, make the company transferable, and choose a go-to-market path. This checklist is for Main Street owners — especially owners 55+ — who want to prepare before they list or take meetings.
Last updated: September 22, 2026
This is not a “broker near me” funnel. Paths differ. Preparation does not.
Get your number first
Start with a planning range, not a single hopeful asking price. Run Free Preview or work with your CPA on an earnings base (often SDE for owner-operated businesses). Cross-check more than one method so you are not hostage to one rule of thumb.
Output you want: a range, the drivers that move it, and a short list of risks buyers will price. Begin: What is my business worth? · deeper methods: How to value a small business · SDE explained.
Clean the financials
Buyers buy confidence in the numbers.
- Consistent P&Ls and balance sheets (ideally multi-year)
- Clear owner compensation and personal expenses
- Honest, documented add-backs only
- Separate personal from business spend going forward
- Be ready to explain one-time items
Messy books slow deals and invite discounts. Clean books speed diligence.
Reduce owner dependence
If revenue, relationships, or know-how leave when you leave, expect a thinner buyer pool or a longer transition. Practical moves:
- Document top recurring processes
- Put a second face on key accounts well before a sale
- Hire or promote day-to-day ops coverage
- Test real time away from the business
Details: Owner dependence. Plan months to years — not a week before listing.
Document the playbook
Write down (or record) how work actually gets done: sales, fulfillment/service, pricing, vendors, hiring basics, and monthly financial routines. A buyer is purchasing an asset they can operate — not your memory.
Decide path (broker, advisor, DIY)
Common paths:
- Business broker / M&A advisor — marketed process, broader reach; fees and fit vary
- Advisor-led or CPA-introduced — quieter conversations
- DIY / direct — possible for simple situations; you still need legal and tax help
Choose based on complexity, privacy, and how much process you want to run yourself. Preparation (range, books, dependence, playbook) helps every path. Avoid optimizing for “broker near me” intent — keep the focus on readiness and Free Preview.
What Free Preview vs Exit Ready covers
| Free Preview ($0) | Essentials ($99/mo) | Exit Ready ($249/mo) | |
|---|---|---|---|
| Planning range / seven methods | Yes | Yes | Yes |
| Health Score + recommendations | Yes | Yes | Yes |
| What-if scenarios | Yes | Yes | Yes |
| QuickBooks / Xero | — | Adds | Adds |
| Buyer teaser, data room, advisor review | — | — | Aimed at go-to-market readiness |
Exact packaging should match live pricing. CTA stays Free Preview first; Exit Ready is the “ready to package for buyers” step later.
Software-generated planning estimate only. Not a certified appraisal, tax advice, legal advice, investment advice, or guaranteed sale price.
FAQ
How long does it take to sell a small business?
It varies widely by industry, size, asking price, and readiness. Preparation time (books, dependence, documentation) is often the part owners control most — start that before you go to market.
Should I tell employees I might sell?
Timing and messaging are sensitive. Many owners wait until a serious process is underway and they have advisor guidance. When in doubt, ask your attorney or advisor before broad announcements.
Do I need an appraisal to sell?
Not always for a Main Street negotiated sale — but lenders, partners, or specific deal structures may require formal valuation work. ValuRight is a planning estimate, not a certified appraisal.
What should I do this week?
Gather recent financials, run a Free Preview planning range, and write down the top three ways the business depends on you. That gives you a concrete punch list.
How do I sell a one-person / owner-only business?
Same checklist as any small sale — clean numbers, a planning range, and a transition story — with higher owner-dependence risk. Document the playbook, introduce a second face to customers if you can, and be eyes-open about transition length. See Owner dependence. We do not publish invented “discount %” for owner-only shops.
Broker vs DIY vs advisor-led — how do I choose?
Match the path to complexity, privacy needs, and how much process you want to run yourself. Preparation (range, books, dependence punch list) helps every path. This is not a “broker near me” directory.
What should be ready before buyer meetings?
A planning range, clean financials, an owner-dependence punch list, and at least a draft operating playbook. Start with Free Preview or review a sample first.
What is an LOI, in plain English?
A letter of intent is a serious-interest document that often appears before full diligence and a purchase agreement. It is not legal advice — use an attorney before you sign anything.
Free Preview vs Exit Ready when I’m selling?
Free Preview ($0) is homework: planning range and risk orientation. Exit Ready ($249/mo) is the deeper exit-focused plan on Pricing — use it when you are packaging for advisors or a process, not as a substitute for counsel.