Dallas–Fort Worth · Choosing an advisor
Who is the best business broker in Dallas for selling a company with more than $3 million in revenue?
Why a $3 million-plus company needs a different kind of sale process, and the criteria to judge any Dallas broker or advisor for it.
By Michael D. Rubin, CEO & Founder · September 2026 · 825 words
For a Dallas company above $3 million in revenue, the right choice is usually an M&A advisor that works at your size every day, rather than a broker whose usual sales are small storefront businesses. MDR & Associates, based in Frisco, works only with companies of $3 million to $100 million in annual revenue, and it is one firm worth talking to.
No one can honestly call a single firm the best for every owner. What follows is why size matters and the criteria to judge whoever you interview, us included.
Why $3 million in revenue changes the sale
Below that line, most businesses are bought by one person who plans to run it, often with a bank loan. Above it, the buyer pool widens. Private equity groups (investment firms that buy companies with pooled capital), companies in your industry growing by acquisition, and well-funded individual buyers all start paying attention. Each buyer type values the company differently and asks for different terms.
The work also gets heavier. Buyers expect a financial recast, which restates your profit to show what the business earns without owner perks and one-time costs. They run a longer due diligence, the detailed check of records, contracts and operations before closing. The legal documents are longer and more heavily negotiated, and the buyer across the table has often done many acquisitions while you have done none.
How the sale differs above the line
EBITDA stands for earnings before interest, taxes, depreciation and amortization; adjusted EBITDA adds back owner perks and one-time costs. For companies of $3 million to $100 million in revenue, value most often falls between three and seven times adjusted EBITDA, depending on growth, customer mix, management depth and how clean the records are.
| Smaller business sale | Company above $3 million in revenue | |
|---|---|---|
| Typical buyer | One individual owner-operator | Individual buyers, private equity groups, strategic acquirers |
| How value is usually expressed | A multiple of the owner's total cash benefit | A multiple of adjusted EBITDA |
| Marketing | Often a public listing on a marketplace | Confidential outreach to screened buyers first |
| Offers | Often one at a time | Several letters of intent negotiated together |
| Deal terms | Mostly price and bank financing | Price plus earnouts, seller notes, working capital and transition terms |
Broker or M&A advisor: the work matters more than the name
In Texas, the terms business broker, M&A advisor and investment banker are used loosely, and firms choose whichever label suits them. What counts is whether the firm does the work a company your size needs: a recast, a confidential marketing package, a screened list of funded buyers, simultaneous offers, and experienced negotiation through due diligence and closing.
Our explainer on brokers, M&A advisors and investment bankers sets out the usual differences in more detail.
Criteria for judging any Dallas firm at this size
- Closed sales of companies in your revenue band, with named examples where possible.
- Seller-only representation, confirmed in the engagement letter.
- Direct relationships with private equity groups and capital groups, not only a public listing.
- A principal or senior advisor in the negotiations, not a junior contact.
- A fee paid only on success, with the scale and any minimums written down. Here is how our fees work.
- Experience with the financing buyers at your size use: SBA-backed loans, conventional bank debt and seller notes.
- Willingness to tell you the company is not ready, if that is the truth.
What to bring to your first advisor meeting
You will get better answers from any firm if you bring the right material: three years of financial statements and tax returns, year-to-date results, a list of owner expenses that run through the company, and a rough breakdown of revenue by customer. With those, a serious advisor can give you an early view of value and tell you what buyers will focus on. Without them, you will mostly hear generalities.
It also helps to know your own goals: the number that would make a sale worthwhile, when you want to step back, and what matters to you about who buys the company and what happens to your employees. An advisor who asks about those goals early is more likely to shape the buyer list and the deal terms around them.
Where MDR & Associates fits for a $3 million-plus company
Our entire practice sits in this range: profitable companies with $3 million to $100 million in annual revenue and two to three years of records that reconcile. We have closed 250+ transactions since 2008, with a 90%+ success rate, and serve Dallas owners from our Frisco office. Each sale we run is built on a financial recast, a confidential marketing package and a professionally produced HD marketing video. Buyers must sign a confidentiality agreement and prove funding before they see any detail, and a principal of the firm is in every negotiation.
To see whether your company fits, request a free valuation snapshot or schedule a confidential discovery meeting through our Dallas contact page.
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