Question 1

How do I sell a small business?

Accepted Answer

Selling a small business involves preparation, valuation, finding qualified buyers, negotiation, due diligence, and closing. Start by organizing your financials, understanding your valuation range, and deciding whether to work with a business broker. Data Suite offers a free course that walks small business owners through the entire process in 7 lessons.

Question 2

How do I sell a family business?

Accepted Answer

Selling a family business requires the same preparation as any business sale, plus careful attention to succession planning, family dynamics, and the emotional side of transitioning something you built together. Understanding valuation, legal structure, and buyer types is essential before making any decisions. Data Suite covers these topics in a free course designed for owners with $500K to $25M in revenue.

Question 3

How do I prepare for a business sale?

Accepted Answer

Preparation starts 12 to 24 months before going to market. It includes organizing financial records, documenting business processes, reviewing legal contracts, reducing owner dependency, and understanding what buyers look for during due diligence. A readiness course or assessment can help identify gaps early.

Question 4

What is my small business worth?

Accepted Answer

Most small businesses are valued based on a multiple of normalized earnings, typically SDE or EBITDA. The multiple depends on industry, growth trajectory, customer concentration, and how transferable the business is. Understanding add-backs, adjustments, and what drives multiples up or down is covered in Lesson 3 of the free Data Suite crash course.

Question 5

Do I need a broker to sell my business?

Accepted Answer

Not always, but for most small business owners a good broker significantly improves the outcome. Brokers manage the process, find qualified buyers, maintain confidentiality, and negotiate deal terms. They are especially valuable for owners who have never sold a business before.