Insights by Candor Advisors

Selling a business comes with a range of costs that aren’t always discussed. Depending on the size of the deal, transaction costs typically fall between 1.5% and 5% of the total value. For larger deals, the percentage may be lower, but the dollar amount can still be significant.

Key contributors to these costs include:

Transaction advisors: Usually compensated as a percentage of the sale price.

Legal fees: High-quality M&A counsel is necessary and often expensive.

Accounting and tax support: Buyers want clean, reliable financials.

Additional consultants: Specialists may be brought in for diligence or post-sale planning.

The real takeaway is this: these aren’t “nice-to-haves.” They’re essential services that protect the deal and ensure you walk away with the outcome you intended. Understanding and planning for these costs early can help avoid surprises and allow you to enter the process with clarity.

What happens to your team after you sell? It’s not always up to you—but there are smart ways to protect your people. In this 3-minute video, Kirk explains how buyers view staffing and what you can do about it.

When it comes time to sell your business, buyers aren’t just looking at how much you make—they’re looking at how well you run. EBITDA, or earnings before interest, taxes, depreciation, and amortization, serves as a common metric for deal valuation, but what truly boosts that number is operational efficiency.

A business with solid margins, clear KPIs, and professionalized systems often sells for more than a larger but poorly run competitor. Why? Because efficient operations signal less risk, faster growth potential, and better returns on investment.

Strategic and private equity buyers want transferable economics. If you can show strong profitability, solid customer metrics, and sector-leading performance indicators, your business becomes a safer—and more valuable—bet. It’s not about cutting corners; it’s about building smarter.

Sure, the money matters—but it’s not the whole story. In this quick video, we explain why understanding your personal motivation is the most important part of your exit plan. Whether it’s freedom, purpose, or something else, your “why” will guide every decision that follows.

Kirk Michie breaks down the key adjustments that can impact your sale price, timing, and terms. Watch this short video to get clear, tactical guidance before you go any further.

Before you sign a Letter of Intent, make sure you understand the deal behind the deal. From EBITDA adjustments to working capital pegs, these hidden levers can change your payout—and your future.

Kirk Michie breaks down the key adjustments that can impact your sale price, timing, and terms. Watch this short video to get clear, tactical guidance before you go any further.

Before the deal is done, there’s still work to do. In this video, Kirk Michie shares practical steps founders should take before and after closing to avoid problems that can disrupt operations, damage relationships, or hurt the legacy they’ve built. If you’re preparing to sell—or already deep in a deal—this is the checklist you didn’t know you needed.

Cultural fit can make or break your deal

A good financial offer isn’t enough—if the buyer’s culture doesn’t align with yours, the deal may unravel post-sale.

Private equity buyers are usually hands-off—but not always

While PE firms often let businesses run independently, cost-cutting or vendor changes can quietly erode your company’s culture.

Strategic buyers can cause deeper disruption

Acquirers in your industry may integrate your team into their systems—changing reporting lines, HR processes, and more.

Your people will feel the impact—especially if they weren’t part of the decision

Post-sale culture clashes can lead to morale issues, turnover, and regret from team members who trusted your leadership.

Legacy isn’t just about ego—it’s about protecting what you built

Preserving your company’s values, team, and customer relationships requires more than a good contract; it requires cultural awareness.

If you’re thinking about selling your business, or just getting prepared,it’s important to understand the CIM (Confidential Information Memorandum). It’s the document that helps you tell your story, highlight your value, and shape how buyers see your company. This quick article breaks down what a CIM includes, why it matters, and how it helps you stay in control during the sale process.

When it comes time to sell your business, buyers won’t just look at your numbers in a vacuum. They’ll compare them to companies like yours—especially if those companies have sold recently.

In this episode, I break down how comparable sales and competitor data influence valuation, what buyers really pay attention to, and how to prepare your business to stand out.

If you’re approached by a non-U.S. buyer interested in your company, it’s not business as usual. Cross-border deals can come with unexpected challenges—from regulatory reviews to ownership restrictions. In our latest piece, we cover what founders should understand before engaging in a conversation with an international acquirer.