Selling Your Business: Answers to the First Four Questions Owners Ask

By Michael D. Rubin, CEO & Founder · Updated September 2026 · 757 words

Nearly every owner who calls about selling asks the same four things: is now the right time, what is the company worth, what will the sale cost, and how long will it take. The honest short answers are to sell when the company is performing well and you are ready, to expect value to be set as a multiple of adjusted earnings, to pay a success fee only if the deal closes, and to plan on three to nine months once you engage an advisor.

Each answer has conditions, and the sections below explain them in plain terms so you can walk into a first meeting knowing what to ask.

When is the right time to sell?

The best time is when two things line up: the company's earnings are strong or growing, and you are personally ready to step away or change roles. Market conditions matter, but they matter less than your own numbers. Buyers pay for recent performance and a believable future, so a sale during a good stretch almost always beats one after a decline.

If the company is not quite ready, a year or two of preparation often adds more value than waiting for the market to move. Common fixes include reducing dependence on the owner, spreading revenue across more customers and getting three years of clean financial statements. When is the right time to sell your business? covers the personal and financial signals in more depth.

What is my company worth?

For companies with $3 million to $100 million in revenue, buyers most often pay three to seven times adjusted EBITDA. EBITDA is earnings before interest, taxes, depreciation and amortization, and adjusted means one-time costs and owner-specific expenses are added back to show what a new owner would actually earn. Where you land in that range depends on growth, customer concentration, recurring revenue, the depth of the management team and how clean the records are.

Two companies with the same earnings can sell at very different prices for exactly those reasons. Buyers also read the trend: a company whose earnings have grown each of the last three years is judged very differently from one whose best year is behind it. A real number needs a look at three years of financials. A formal business valuation sets out the methods and evidence; a free opinion of value gives you a low-to-high range first, at no cost.

What does selling cost?

Advisors are paid in different ways, and it is worth asking any firm exactly how. MDR & Associates works on a 100% performance basis: an industry-standard success fee only if and when the company sells, and nothing if it does not close. The percentage falls as the transaction grows and is written into the engagement letter before any work starts. Formal third-party valuation and pre-exit consulting are separate, optional services with their own price.

Your own transaction attorney and CPA bill you separately, and their work is worth budgeting for, because the purchase agreement and the tax structure decide how much of the price you keep. Our fees page explains the success fee in detail.

How long does it take?

Most sales run three to nine months from engagement to funds wired. MDR has closed a sale in eight days and has also seen one take eighteen months. The main factors are how quickly the financial records can be recast (restated to show true earnings), how many qualified buyers are interested, and how smoothly due diligence, the buyer's detailed review of your records, goes.

Having three years of statements that reconcile with your tax returns is the easiest way to shorten the timeline. So is responding quickly once offers arrive; deals that lose momentum tend to lose buyers. The calendar also depends on you. Owners who can make decisions within a day or two, and who have a transaction attorney lined up before the letter of intent arrives, usually finish faster than those who start looking for help at that point.

How the first step works with MDR & Associates

It starts with a free, confidential discovery meeting. We listen to your goals, review three years of financials and give you an opinion of value as a low-to-high range. If we both agree to go ahead, we take the company to private equity groups, capital groups and individual buyers who have been screened and negotiate several offers at once. You also help shape your role after closing, from a short handover to a longer consulting arrangement. Request a free valuation snapshot to begin.

Where this fitsSell your business in Texas →

Questions owners ask next

Do I need to be in Dallas to meet MDR & Associates?

No. The firm's corporate office is in Frisco, and advisors meet owners across Texas at their own offices or somewhere discreet. Owners in Houston, Austin and San Antonio do not need to travel to Frisco. The first meeting is the same wherever it happens: free, confidential and focused on your goals.

What should I bring to a first meeting?

Three years of financial statements and tax returns, a current year-to-date statement and a short list of your goals. Customer lists, contracts and other details can wait. The aim of the first meeting is an honest range of value and a clear view of your options, not a full review.