Many Canadian business owners assume that selling a business requires a broker. It does not. While brokers serve a purpose in certain situations, a growing number of owners are choosing to sell directly to qualified buyers — saving tens or hundreds of thousands of dollars in commissions and maintaining far greater control over the process. This guide explains how to sell your business in Canada without a broker, and what to look for in a direct buyer.
What Does a Business Broker Actually Do?
A business broker acts as an intermediary between a seller and potential buyers. They typically prepare a Confidential Information Memorandum (CIM), market the business to their buyer network, manage initial enquiries, and facilitate negotiations. In exchange, they charge a success fee based on a percentage of the transaction value — often a substantial sum paid to someone who did not build your business.
When You Don't Need a Broker
If you already have a qualified buyer — or are willing to approach one directly — a broker adds little value and significant cost. Direct buyers like CMBB approach sellers proactively, conduct their own due diligence, and manage the entire transaction process in-house. There is no need for a CIM, no auction process, and no competing bids that can fall through at the last moment. The process is simpler, faster, and more confidential.
How to Protect Yourself Without a Broker
The primary risk of selling without a broker is not having adequate professional support. This is easily addressed by engaging a business lawyer and a chartered professional accountant independently. Your lawyer will review and negotiate the purchase agreement, representations and warranties, and any non-compete provisions. Your accountant will advise on tax structuring, the Lifetime Capital Gains Exemption, and how to optimise the deal structure. These professionals cost a fraction of a broker's commission and provide far more targeted protection.
What to Look for in a Direct Buyer
Not every direct buyer is the right buyer. When evaluating a buyer who approaches you without a broker, look for: proof of funds or committed capital, a clear acquisition thesis and track record, transparency about their intentions for the business and its employees, and a willingness to share their valuation methodology. CMBB, led by Leonardo Obodoeke, provides all of this upfront. We do not require sellers to sign exclusivity agreements before we have earned their trust.
The CMBB Direct Acquisition Process
CMBB's process is designed to be straightforward and respectful of your time. We begin with a confidential conversation to understand your business and your goals. We then conduct our own valuation — using earnings-based analysis, asset assessments, and comparable transaction data — and present a written offer with full methodology disclosed. If you accept, we issue a Letter of Intent, conduct due diligence, and close. Most transactions complete within 60–90 days of the initial offer. There are no fees charged to the seller at any stage.
Interested in selling your business without a broker? Start a confidential conversation with CMBB today.
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