Business Brokers by State, Plus a Free Alternative
Quick Answer
A business broker helps owners sell small businesses, usually by listing the business (publicly or semi-publicly), marketing it, screening buyers, and managing the sale, typically for an 8 to 15 percent commission paid by the seller. The main alternative is a buyer-paid sell-side advisor: the advisory fee is paid by the buyer at closing rather than the seller, and the process is usually off-market and confidential, shown sequentially to pre-qualified strategic and private-equity-backed buyers instead of listed publicly. For larger or more complex businesses, the buyer-paid model often produces a higher price, a faster close, and no seller fee; for very small businesses, a traditional broker can still be the practical route.
Thinking about selling your business?
A 15-minute confidential call gives you a real valuation range and the buyers most likely to compete for your business. No cost, no obligation.
Looking for a business broker in your state? This page lists state-by-state guides covering local broker market data, typical fees in each state, and how a buyer-paid alternative compares for sellers in that market.
Most owners start their search with “[state] business brokers” because that is what brokers have positioned themselves as, the gatekeepers between sellers and buyers. The reality is that well-funded buyers actively look for businesses without involving a broker on the seller side, and they pay the advisor fee themselves. We have been doing this from Sheridan, Wyoming with 100+ active capital partners.
Each state guide below covers (1) the local broker landscape, (2) typical broker fees in that state, (3) the verticals our buyer network is most active in for that state, and (4) the alternative path. Read the national broker alternative guide first if you want the full breakdown of why this matters.
What this directory contains
46 state-by-state guides, broker market data, typical fees, and buyer-paid alternative for each US state with measurable broker search demand
National pillar:Business Broker Alternative, the full breakdown of broker fees, hidden costs, and the buyer-paid model
Top markets: California, Florida, Texas, Illinois, Colorado, New York, Connecticut, Michigan, Tennessee, Arizona
5 pillars of the CT alternative: $0 to sellers, no exclusivity, 100+ capital partners, sequential introductions, 60-120 day close
The five pillars of the CT alternative
$0 to Sellers
Buyer pays our fee. Founders never write a check.
No Retainer
No engagement letter. No upfront cost. No exclusivity contract.
100+ Capital Partners
Search funders, family offices, lower-middle-market PE, strategics.
Sequential, Not Auction
Confidential introductions to the right buyers. No bidding war.
60-120 Day Close
Not 9-12 months. Not 18 months. Months, not years.
Top 10 states by business broker search volume
These are the states where the most owners are actively researching business brokers each month. Click through to the state guide for local data and the alternative path:
California, 7,960 monthly searches across 169 broker-related keywords
Florida, 6,367 monthly searches across 207 broker-related keywords
Illinois, 3,671 monthly searches across 61 broker-related keywords
Colorado, 3,431 monthly searches across 44 broker-related keywords
Connecticut, 3,144 monthly searches across 8 broker-related keywords
Texas, 2,292 monthly searches across 68 broker-related keywords
Maine, 2,136 monthly searches across 17 broker-related keywords
Michigan, 2,072 monthly searches across 47 broker-related keywords
Tennessee, 1,862 monthly searches across 20 broker-related keywords
Vermont, 1,812 monthly searches across 5 broker-related keywords
Skip the broker. Start a confidential conversation.
Tell us about your business. We will tell you whether we have qualified buyers in our network for your sector and state, what they typically pay for businesses like yours, and what the next 60-120 days would look like. No engagement letter. No retainer. Walk at any time.
A 15-minute confidential call gives you a real valuation range and tells you which buyers would compete for your business. No cost, no obligation, no pressure to sell.
Christoph Totter is the founder of CT Acquisitions, a buy-side partner headquartered in Sheridan, Wyoming. We work directly with 100+ buyers, search funders, family offices, lower middle-market PE, and strategic consolidators, including direct mandates with the largest consolidators that other intermediaries cannot access. The buyers pay us when a deal closes, not the seller. No retainer, no exclusivity, no contract until close. Connect on LinkedIn · Get in touch
Sell your business by industry, vertical M&A guides
Sector-specific guides on multiples, the PE-backed buyers acquiring, what drives value, and the sale process, written for founders of these businesses. Sellers pay nothing; the buyer pays the fee at closing.
More vertical M&A guides, sell your business by industry
Sector-specific guides on multiples, the PE-backed and strategic buyers acquiring, what drives value, and the sale process. Sellers pay nothing; the buyer pays the fee at closing.
In-depth M&A guides, fire sprinkler & elevator service
Deep-dive guides on multiples, the named PE platforms acquiring, the recurring-revenue math, and how to prepare a sale. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on multiples, named PE platforms (R1 RCM, Waystar, Ensemble, GeBBS), the KPI playbook, and how to prepare. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (median 11.6x EBITDA, premium 16x+), named aggregators (Wealth Enhancement, Mercer, Mariner), and the premium playbook. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (3x-16x EBITDA), named PE consolidators (Upstream, Athletico, Confluent, Ivy, ATI), the productivity playbook, and how to prepare. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (3x-15x+ EBITDA), named PE-backed platforms (CityMD, GoHealth, FastMed, AFC), hospital-system buyers (Ardent, Bon Secours, HCA), and the operator KPI playbook. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (4x-14x EBITDA), named national buyers (Quest, Labcorp, Sonic, NeoGenomics), PE-backed platforms (Aculabs/Ampersand), and the operator KPI playbook including PAMA / EKRA / CLIA / CAP. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (1.5x-8x), the named buyer pool (Pilot, FinancePal, Acuity, BooXkeeping, plus PE-backed CPA platforms like Citrin Cooperman/Eisner/Aprio), the post-Bench market reset, and the recurring-revenue playbook. Sellers pay nothing; the buyer pays the fee at closing.
Deep-dive guide on 2026 multiples (5x-14x EBITDA), named public buyers (Option Care, Optum, BrightSpring) and PE-backed platforms (KabaFusion, Soleo, CSI). Sellers pay nothing.
Deep-dive guide on 2026 multiples (3x-12x EBITDA by subsegment), named public buyers (AdaptHealth, Lincare, Owens & Minor/Apria, ResMed) and PE-backed platforms (Numotion, National Seating). Sellers pay nothing.
Deep-dive guide on 2026 multiples (3x-12x EBITDA), named public buyers (Acadia, UHS) and PE-backed platforms (BayMark, Pinnacle, Discovery, BHG). Includes EKRA, patient-brokering compliance, and the Kipu Health EMR playbook. Sellers pay nothing.
Deep-dive guide on 2026 multiples (4x-12x EBITDA), named public buyers (RadNet, Akumin) and PE-backed platforms (SimonMed, US Radiology Specialists). Sellers pay nothing.
Deep-dive guide on 2026 multiples (3x-12x EBITDA), named public/PE buyers (Mister Car Wash, Take 5/Driven, ZIPS, Tidal Wave, Quick Quack, El Car Wash), the express-tunnel playbook, and the post-peak market reset. Sellers pay nothing.
Deep-dive guide on 2026 multiples (5x-13x EBITDA), named public buyers (Stantec, Tetra Tech, NV5, Bowman) and PE platforms (Ardurra, Verdantas/Sterling, IMEG, Salas O’Brien). IIJA/BIL tailwind. Sellers pay nothing.
Deep-dive guide on 2026 multiples (3x-9x EBITDA), named buyers (Stantec, Arcadis/CRTKL, HKS, Page) plus the thinner-buyer-pool reality and ESOP alternatives. Sellers pay nothing.
Deep-dive guide on 2026 multiples (4x-9x EBITDA), named buyers (World Kinect INT formerly World Fuel Services, Pilot Company/Berkshire, Mansfield Energy, Sun Coast Resources). Sellers pay nothing.
Deep-dive guide on 2026 multiples (6x-12x EBITDA), named PE-backed MSOs (US Urology Partners/NMS, Solaris Health/Lee Equity, United Urology Group, Premier Urology Group). Sellers pay nothing.
Deep-dive guide on 2026 multiples (10x-18x EBITDA, among the highest in healthcare-services), named buyers (Mars/VCA+BluePearl+Banfield, NVA/KKR+Berkshire, Thrive Pet Healthcare/TSG, MedVet, VEG). Cash-pay model + aging-pet demand. Sellers pay nothing.
The ROI case for retained buy-side M&A advisor: 3-7x return on advisor cost via compressed timeline, proprietary deal access, negotiation protection. When to hire vs. build internal corp dev.
What is a PE firm: fund structure, top US firms (Blackstone $1.1T, Apollo $700B, KKR $580B, Brookfield, Ares, Carlyle), platform vs. add-on, LBO mechanics, 2026 multiples by sector. CT runs retained mandates for PE platforms doing add-ons.
Acquisition strategy framework: thesis discipline, capital structure, deal velocity targets, integration playbook, exit planning. Strategy by buyer type (PE 1+5/5yrs, strategic 0.3-1/yr, FO 0.5-1.5/yr, SF 1 total, IS 0.5-1.5/yr).
Complete roll-up playbook: multiple arbitrage (3-5x add-on entry vs. 9-14x exit), top US roll-up sectors (healthcare, home services, auto, funeral, industrial dist), named PE platforms (Caliber, Heartland, Mars Petcare, SCI, Neighborly, Authority Brands, Apex HVAC).
Top US roll-up case studies: Heartland Dental (KKR+OTPP ~2,500), Caliber Collision (H&F+OMERS ~1,800), Mars Petcare Vet (~2,100), SCI (~1,500 funerals + 470 cemeteries), Apex HVAC (~60 add-ons in 2025), Blackstone-Champions ($2.5B at 18.5x Feb 2026).
Top 6 SBA 7(a) lenders: Live Oak Bank (NASDAQ: LOB, largest by volume ~$10B portfolio), Newtek (NASDAQ: NEWT), Huntington National Bank (NASDAQ: HBAN, largest by # of loans), Byline, Pursuit (CDFI), US Bank (NYSE: USB). Up to $5M, 90% guaranteed.
