Business Broker for Small Business

[Anonymous]

I'm looking to sell my consulting business with three employees. I plan to still run the business for 1-2 years, if necessary, but want to shift ownership starting this spring.

I have a valuation done by a national broker already but his full fee is astronomical.

Does anyone have a recommendation for someone local who can help me find a buyer and work through the logistics? I know I can use an attorney for the legal piece but I probably need a professional to access a network of buyers or investors.

Thanks!

[Anonymous]

What are your numbers - revenue, ebitda. And what industry? Will help drive what kind of support you should look for.

[Anonymous]

We're in the academics and education industry and under $1 million annual revenue.

[Anonymous]

Hm, that's a tough one. Honestly, I'd ping your network of larger players and feel out if there might be any interest in some sort of acqui-hire situation. Good luck!

[Anonymous]

Anonymous wrote:Hm, that's a tough one. Honestly, I'd ping your network of larger players and feel out if there might be any interest in some sort of acqui-hire situation. Good luck!

It’s amazing there’s what sounds like 4 FTEs w under $1M ARR unless they raised outside funds to subsidize opex

[Anonymous]

Anonymous wrote:

Anonymous wrote:Hm, that's a tough one. Honestly, I'd ping your network of larger players and feel out if there might be any interest in some sort of acqui-hire situation. Good luck!

It’s amazing there’s what sounds like 4 FTEs w under $1M ARR unless they raised outside funds to subsidize opex

Why? Consulting is pretty cheap especially if remote. Say owner OP makes $300k salary the other three make $150k for lesser roles that leaves $300k left for other expenses like ER taxes, benefits, 401k expenses and profit. Assume she’s an LLC filing as an SCorp.

My dh and I run a business together and had similar headcount back at $1M in Consulting and cleared pretty good margins. Even with travel. Honestly for us it was more lucrative to keep the business over selling it. “More” isnt always more. Although Trump is ruining it all now we had a good run.

[Anonymous]

I don't know about your consulting business, but my BIL found his company (making gravestones) on Craigslist. You can always post there and see if you get any hits.

I do agree with the networking angle; that's probably your best bet.

[Anonymous]

Post on Craigslist, linkedin, BizBuySell.

[Anonymous]

Sun Belt Business Brokers of Bethesda.
Ask for Majide is a great guy.
He helped me buy and sell my business.

[Anonymous]

* Mike

[Anonymous]

Have you thought about selling to employees?
Also attend industry conferences, usually there are brokers there or you can make connections

[Anonymous]

OP here
These are some great ideas that I’ll definitely follow through on.
Thank you all so much!