Selling a business is more than just finding a buyer—you need a team of experts to help with all the details. From taxes to legal details and getting the most money for your needs, each person on your team plays a big part. Whether you work with an investment banker or handle things on your own, knowing who these key people are will help you get the best deal.

When you’re selling a business, you’ll face a range of financial, legal, and operational challenges. That’s where having a solid deal team comes in. Each advisor has a specific role to make sure you’re prepared for every step, from valuing your business to closing the deal. With the right mix of professionals, you can avoid common mistakes, save time, and increase the value of your sale. Let’s break down the key players you’ll want on your side and how they can help.

Key Advisors in a Business Sale:

1. Investment Banker vs. Business Broker

Founders often choose between an investment banker or a business broker. Investment bankers usually handle bigger, more complex deals, while business brokers are better for smaller businesses. Both can help with valuing your business, negotiating with buyers, and marketing it for sale. Which one you choose depends on how big and complex your business is.

2. M&A Attorney: A Specialized Legal Advisor

An M&A attorney is one of the most vital members of your team. Unlike general business lawyers, M&A attorneys specialize in deal-making. They handle everything from structuring the sale to negotiating terms, ensuring all legal details are taken care of. Their job isn’t just to write contracts—they’re there to protect your interests and guide you through the entire process.

3. Tax Accountant and Financial Advisors

A tax accountant is crucial for planning how the sale will affect your taxes, like capital gains. They also help with structuring things like earnouts, which are payments you might get after the sale. If your business sale needs a closer look at the finances, you may also need an accountant to provide a valuation or quality of earnings (QoE) report. These reports give buyers a clear view of your business’s financial health by ensuring key numbers like EBITDA and profits are accurate. Financial advisors can also help make sure the proceeds from the sale meet your long-term financial goals, ensuring you’re getting the best deal possible.

4. Exit Planners

Exit planners help you get your business ready for a sale in advance. They make sure your financials and operations are in the best shape to get the highest price when you sell. They work with you over time to optimize your business.