There’s a persistent myth that you need a broker to sell a business. You don’t. Thousands of business owners sell themselves every year using online marketplaces, affordable professional services, and a little elbow grease. The real question isn’t whether you can do it—it’s whether you want to, and whether the economics make sense.

Let’s start with the money. On a $500,000 sale, a traditional broker typically takes 8 to 12 percent commission—that’s $40,000 to $60,000 out of your pocket. A DIY sale with marketplace listings, a professionally drafted agreement review, and maybe a business broker for limited consulting might run $6,000 to $18,000 total. That’s a meaningful difference.

But the broker brings something: they have a buyer list, they run the process for you, and they handle logistics. When you sell yourself, you’re doing that work. It’s doable, but it requires organization and realistic expectations about your time commitment.

The Six Steps to Selling Yourself

Step 1: Know Your Number — Before you do anything, figure out your Seller’s Discretionary Earnings and research comparable sales. An online valuation tool is free or costs under $100. You need to know what you’re asking for before you list.

Step 2: Create a Confidential Information Memorandum — This is a professional sales document that tells your business story. It includes an executive summary, financials, customer and revenue breakdown, operations details, and growth opportunities. You can hire a business consultant to create one for $1,500 to $3,000, or you can write a solid version yourself. Either way, buyers take you more seriously with a CIM.

Step 3: List on Marketplaces — Post your business on platforms like BizBuySell, Flippa (for digital assets), or industry-specific marketplaces. You might also reach out directly to strategic buyers in your network. Plan for a 3 to 6 month marketing period.

Step 4: Screen and Qualify Buyers — You’ll get inquiry emails. Many won’t be serious. Ask for a non-disclosure agreement, make sure they have financing capability, and have initial conversations to understand their intent. Don’t spend time on unqualified buyers.

Step 5: Negotiate with Professional Support — When you have a serious buyer, bring in a business attorney ($2,000 to $5,000 for agreement review and negotiation). The attorney protects you, handles the legalese, and makes sure you’re not leaving money on the table. This is where professional help is worth every penny.

Step 6: Close and Transition — Work with your attorney and accountant to finalize the agreement, transfer ownership, and complete any transition support the buyer needs. This usually takes 30 to 60 days after you reach final terms.

When DIY Selling Works Best

DIY selling is the right move when your business is straightforward, your financials are clean and organized, and you don’t mind being hands-on. You’ll need to invest time in screening buyers, managing the process, and coordinating between professionals. You’ll also want realistic expectations about timeline—a DIY sale typically takes longer than a brokered one.

The alternative isn’t between DIY and broke; it’s between DIY and paying commission. If you go the DIY route and a buyer surfaces through your own network or marketing, you pocket the savings. Some sellers split the difference—they hire a business broker for a flat fee to help identify buyers or navigate negotiations, rather than paying full commission.

Brokers absolutely have value in certain situations: if you want the sale done quickly, if you need help accessing institutional buyers, or if your business is complex. But for many owners, the DIY route works, saves money, and gives you control over the process. It’s a viable path—you just need to be organized and willing to learn.

Ready to explore your options? Owners Club has tools and guides to walk you through valuation, CIM creation, and the full selling process—whether you go DIY or bring in professional help.