INSIGHTS

Selling and Buying a Business

Plain-English guidance on what a business is worth, how a sale actually runs, and what buyers look for.

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Topic
hard to find business
For Sellers

Why Buyers Pay More for Some Businesses Than Others

September 21, 2026
Nearly half of lower-middle-market buyers say they will stretch on price for the right business. Four in ten say they cannot find one. That gap is where your price is won or lost — and it turns on four things a buyer can verify before closing, none of which is your industry. Here is what they check.
M&A Trends Multiples Private Equity & Roll-Ups Valuation & Pricing
working capital
For Sellers

The Closing-Day Rule That Can Add or Subtract From Your Sale Price

September 14, 2026
Some purchase agreements let the buyer move your price at closing, based on the cash, receivables and inventory left in the business. Many smaller sales have no such clause at all. Here is how to tell which kind of deal you are in, and what to settle before you sign.
Deal Structure & Terms Selling a Business The Sale Process
earnout
For Sellers

What Is an Earnout? What It May Cost You as a Seller

September 6, 2026
Earnouts now show up in roughly 1 in 3 lower-middle-market sales. Across deals that include one, sellers collect only about 20 cents on the dollar of what was promised. Here's what drives that gap — and the five terms worth negotiating before you sign.
Deal Structure & Terms
hourglass
For Sellers

Your Buyer Has a Clock: What a Private Equity Fund's Age Does to Your Deal

August 30, 2026
Private equity is sitting on 13,325 US companies it already owns, and more than a quarter have been held for seven years or longer. That backlog shapes your deal more than the multiple does. Here is how to read where a buyer's fund sits in its own ten-year clock — and the five questions that surface it before you sign.
Private Equity & Roll-Ups The Sale Process
Business meeting
For Buyers, For Sellers

What SBA Lenders Are Looking for in 2026 — and What Changes on October 1

August 25, 2026
On October 1, 2026, the SBA changes how business acquisitions are underwritten. The coverage floor moves to 1.25x, projections stop counting toward it, and deals at $3 million and above pick up a Quality of Earnings requirement. Here is what it costs a seller — and which buyer it quietly favors.
Financing & SBA The Sale Process
fix sign
For Sellers

5 Signs Your Business Is Not Ready to Sell (And How to Fix Them)

August 24, 2026
"Not ready to sell" almost never means "not profitable enough." It means a buyer can't verify, finance, or take over what you're selling. Here are the five gaps that surface in diligence.
Exit Planning Sale Readiness
Increase business value
For Sellers

How to Increase the Value of Your Business Before You Sell

August 18, 2026
Most advice tells you to grow your earnings. The bigger money is usually in the multiple. Here are the five levers that actually move your number.
Sale Readiness Valuation & Pricing
HVAC
For Sellers

Why Private Equity Is Buying Every HVAC and Plumbing Company It Can Find

August 17, 2026
PE-backed platforms accounted for roughly 41% of HVAC M&A activity in 2026. Here is the multiple-arbitrage math behind the roll-up, and what it means for your number.
Private Equity & Roll-Ups
quiet roll up
For Sellers

The Quiet Roll-Up of B2B Services: What IT, Staffing, and Distribution Owners Should Know

August 17, 2026
Private equity is consolidating MSPs, staffing firms, and specialty distributors just as systematically as home services. Here are the 2026 bolt-on vs. platform multiples, and what they mean for your exit.
Private Equity & Roll-Ups
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