These are the most common questions business owners ask about m&a advisory. Every answer is based on our experience working with growth-stage companies doing $1M to $50M in revenue.
Frequently Asked Questions
How much does an M&A advisor charge?
M&A advisors typically charge a success fee of 3-10% of the transaction value, with the percentage decreasing as deal size increases. For deals under $10M, expect 8-10%. For $10M-$50M deals, expect 4-6%. Most advisors also charge a monthly retainer of $5,000-$15,000 during the engagement period, which is credited against the success fee at closing.
How long does it take to sell a business?
Selling a business typically takes 6-12 months from listing to close. Add 6-18 months of preparation time before going to market. The timeline depends on business complexity, buyer pool, industry conditions, and seller readiness. Companies that prepare properly (clean financials, reduced owner dependency, documented operations) sell faster and for higher multiples.
What is my business worth?
Business valuations depend on industry, size, growth rate, profitability, and risk factors. Most small to mid-market businesses sell for 3-7x adjusted EBITDA. SaaS companies sell for 5-15x ARR depending on growth rate and retention. Service businesses typically sell for 3-5x EBITDA. A professional valuation considers comparable transactions, discounted cash flow, and asset values.
What is the difference between an M&A advisor and a business broker?
Business brokers handle transactions under $2-5M and work with a high volume of deals. M&A advisors handle larger transactions ($5M-$500M+) with more sophisticated deal structures, buyer targeting, and negotiation. M&A advisors typically provide more strategic advice including pre-sale preparation, competitive auction processes, and complex deal structuring.
How do I prepare my business for sale?
Start 12-24 months before you want to sell. Clean up financials (recast personal expenses, normalize one-time items). Reduce owner dependency (document processes, delegate relationships). Diversify customer concentration (no customer over 15% of revenue). Build a management team. Fix deferred maintenance. WETYR runs sell-side preparation programs that systematically address these value drivers.
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Ma Advisory: Common Questions Answered
This FAQ collection answers the questions WETYR receives most often about ma advisory. Each answer is written by operators who have lived the work — not lifted from generic advisor templates. Owners and operators who read these FAQs end up walking into their next conversation with WETYR (or with any advisor) substantially better prepared, which is the goal. Better-prepared clients reach better outcomes. We give the answers away because that compounds trust.
The questions cover the practical side of ma advisory — pricing, timeline, who-does-what, decision frameworks, and the trade-offs that aren't covered in generic content. If your specific question isn't on this page, the right next step is either the relevant long-form guide or a direct call with our team. We respond to every inbound inquiry within one business day.
When To Engage An Advisor
The general rule for ma advisory: engage an advisor 12-24 months before the transaction window if you have flexibility, or as soon as possible if the window is shorter. Owners who engage 6+ months out routinely receive premium offers; owners who engage 30 days out routinely accept whatever the buyer puts on the table. The pre-engagement diagnostic is where most of the leverage is created.
For ma advisory-specific work, WETYR runs both advisory engagements and operator-buyer engagements. The right structure depends on whether you want a counterparty who closes the deal directly or an advisor who runs a structured process. Both have their place. The free diagnostic call is the cleanest way to figure out which fits your situation.
Authoritative Sources & Further Reading
WETYR works alongside primary sources, regulators, and industry data providers when advising owners and operators. The references below are the same sources our advisory team uses when modeling deals, benchmarking multiples, and stress-testing assumptions. We encourage every owner, buyer, and operator to verify any data point that materially affects their decision against the underlying primary source.
Primary Federal Sources
- U.S. SBA — 7(a) Loan Program for acquisition financing eligibility, terms, and lender list.
- SEC EDGAR for public-company comparables, 10-K disclosures, and recent strategic acquirer filings.
- IRS — Sale of a Business on Section 1060 asset-allocation reporting and tax treatment of asset vs stock sales.
- U.S. Bureau of Labor Statistics — Industries at a Glance for wage, employment, and growth data by NAICS code.
- U.S. Census Economic Census for industry size, firm counts, and revenue distributions.
- Federal Reserve Economic Data for prevailing rate environment underwriting.
Standards & Reference Bodies
- AICPA for Quality of Earnings methodology and CPA standards governing transaction-related financial work.
- FINRA Rules and Guidance for understanding when a transaction crosses into broker-dealer territory.
- NACVA business valuation credentialing body and standards (CVA designation).
- USPAP — Uniform Standards of Professional Appraisal Practice for valuation engagement standards.
- Investopedia — EBITDA reference page for definitional alignment with our glossary.
- Harvard Business Review — Mergers and Acquisitions archive on integration and post-close value creation.
For deeper transaction-specific data, the GF Data and PitchBook private-company transaction databases publish quarterly multiple ranges by industry size band that we cross-reference against our own pipeline benchmarks. Owners considering a sale should also review the Pepperdine Private Capital Markets Report (free, annual) for current cost-of-capital and lender appetite data across the lower middle market. Buyers underwriting search-fund or holdco theses commonly pair Stanford GSB's Search Fund Study with the IBBA Market Pulse report, which tracks multiples for sub-$50M transactions quarterly. None of these sources replace deal-specific advisory, but they give owners and operators the same reference points professional acquirers are using on the other side of the table.
Related WETYR Resources
Every WETYR resource ladders into a structured engagement framework. Whether you are diagnosing readiness, modeling a number, or preparing for a specific transaction phase, the resources below cover the most common owner and operator workflows. All tools are free; all guides are operator-written; all engagements start with a confidential conversation.
Engagement Pillars
Decision Tools
Operator-Written
Glossary & FAQ
Checklists & Templates
Niche Coverage
If you are not sure where to start, the Exit Readiness Score takes about four minutes and produces a one-page diagnostic on the value drivers most likely to compress your multiple. From there the natural next step is either a long-form guide covering your specific situation, a focused glossary term lookup, or a confidential introductory call with our team to discuss whether WETYR's advisory or operator-buyer engagement is a fit. Our team responds to every inbound inquiry within one business day.