Selling your business is one of the most important financial decisions you’ll ever make. Whether you’re preparing for retirement, pursuing an entirely new venture, or responding to market timing, finding the right M&A advisor or business broker is critical to achieving a successful exit. If you’re wondering how to find a broker to sell your business, this guide will walk you through the key steps, especially if you’re based in San Diego.
What are the Differences Between an M&A Advisor and a Business Broker?
Before you begin, it helps to understand the distinction between the two. Business brokers typically focus on smaller businesses such as restaurants, retail shops, or service companies with lower revenue. Their process often involves listing businesses on public marketplaces and connecting with individual buyers. Brokers usually hold a state-issued business broker or real-estate license. M&A advisors, on the other hand, specialize in larger companies with $5 million to $150 million in revenue (sometimes referred to as the middle market or lower middle market). These deals are more complex and often require proactive marketing to both strategic buyers and private equity groups, valuation expertise, and negotiation skills. The right choice depends on your business size, complexity, and goals. If you’re selling a larger company or want a confidential, strategic process, an M&A advisor is usually the better fit. Learn more about our approach on our Sell-Side Services page.
Ask for Referrals from Trusted Sources
One of the best ways to find an M&A advisor or broker to sell your business is through referrals from professionals who know your company and the local M&A landscape. These trusted advisors often have firsthand experience with firms that specialize in business sales:
- Business attorney
- CPA or tax advisor
- Wealth advisor
- Business coach or consultant
- Commercial banker
These professionals can point you toward reputable firms in San Diego that align with your goals and industry.
Search Online for M&A Advisors and Business Brokers in San Diego
Begin compiling a list of suitable candidates. Once you have a few names, do some research online. Look up local firms and review their websites carefully:
- Do they have experience in your industry or deal size?
- Do their services align with your objectives?
- What do past clients say in testimonials or case studies?
A firm’s digital presence can tell you a lot about their professionalism, approach, and credibility.
Understand Licensing and Qualifications
Licensing can help you assess the level of expertise and regulatory oversight a firm operates under. When evaluating how to find an M&A advisor, consider the following:
- Investment banking licenses (SEC and FINRA) are typically required for securities-based transactions and often signal deeper experience.
- Business broker licenses (real estate licenses issued by the State of California) are more common for smaller deals.
Investment banking licenses generally require a higher degree of training and compliance. Consider which level of licensing best fits your business and the complexity of your transaction.
Reach Out and Evaluate Fit
Once you’ve narrowed your list, reach out to the firms that seem like the best fit. Ideally, meet in person or via video to get a sense of the team you’ll be working with. You’ll be working closely with your advisor for 8–12 months, so it’s essential to feel comfortable with their communication style, professionalism, and strategic thinking. You can learn more about Our Team at Shoreline Partners who will guide you through the process.
Consider Their Approach to Marketing Your Business
Ask how they plan to bring your business to market. Will they post an online listing? Or will they proactively reach out to targeted buyers? For companies with annual revenue of $5 million or more, a tailored, confidential outreach strategy is often more effective than public listings. The right advisor will know how to position your business to attract multiple buyers including strategic companies and private equity groups.
Ask About Problem-Solving Experience
Every transaction hits some bumps along the way. Look for advisors who can think creatively and solve problems under pressure. Ask questions like:
- “What challenges have you encountered in past deals?”
- “How did you resolve them?”
- “Can you share an example of a deal that almost fell apart and how you saved it?”
This insight can help you gauge how well the firm will protect your interests when things get complicated.
Understand the Cost Structure
Fees vary depending on the type of advisor:
- M&A advisors typically charge a 4–6% fee on the transaction value.
- Business brokers may charge 10–12%, especially for smaller deals.
Make sure you understand how fees are structured and what services are included. Transparency here is key to avoiding surprises later.
Consider Industry Experience
While not essential, an M&A advisor with experience in your industry can be an advantage. Someone who understands your sector will know how to position your business, identify strategic buyers, and speak the language of your market. Ask if they’ve completed deals in your industry or worked with similar business models.
Choose the Firm That Aligns with Your Objectives
Ultimately, you want a firm that understands your goals, communicates transparently, and has the experience to guide you through a successful transaction. Don’t be afraid to ask tough questions and trust your instincts. This is one of the most important partnerships you’ll ever form.
Ready to Sell Your Business?
If you’re a San Diego business owner considering a sale, Shoreline Partners is here to help. We specialize in representing the owners of companies with $5–150 million in annal revenue and offer confidential, strategic guidance from start to finish. Contact us today to schedule a consultation and explore your options.