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Plan on 8 to 12 months from engagement to close. That covers the entire transaction from listing to close: valuation and preparation, confidential marketing and buyer screening, then everything that happens once the business is under contract — buyer due diligence, SBA or conventional financing, lease and landlord consents, and closing. Industry data lines up with this. The IBBA's Market Pulse puts median listing-to-close at roughly 9 months for Main Street businesses and 11 months for lower-middle-market deals. Well-prepared businesses with clean financials sit at the fast end of the range; anything with real estate or multi-unit franchise approvals can take longer.

Many lower-middle-market businesses sell at 2.5×–5.5× Seller's Discretionary Earnings (SDE). Specific multiples depend on industry, size, growth trajectory, owner dependency, and buyer financing environment. The fastest way to a ballpark number is the free online valuation calculator, about 5 minutes, completely confidential. For a real asking-price range, Trustmark prepares a broker opinion of value in about a week. We also offer full business appraisals through our strategic partners.

SDE (Seller's Discretionary Earnings) adds back the owner's full compensation — salary, benefits, personal expenses run through the business — on top of the usual interest, taxes, depreciation, and amortization add-backs. It answers "what does this business pay a single owner-operator who works in it?" and is the standard for smaller, owner-run businesses. EBITDA (earnings before interest, taxes, depreciation, and amortization) does not add back owner compensation — it assumes a market-rate manager is already being paid a salary, which is embedded as a real expense. It's the standard once a business is large enough to run without the owner personally in it day to day.

Trustmark charges a success fee at closing. Specific fee structures vary by deal size and complexity, and are agreed in writing before any engagement begins.

Your name and business identity never appear in any marketing material. Buyer prospects must sign an NDA and have a discussion with our staff before any materials are distributed. A comprehensive overview of your business is then sent to the prospect. Employees, customers, and competitors do not learn about the engagement until you choose to tell them, typically post-close.

A documented qualification process every inquiry runs through before they see any confidential information. It covers buyer timing, background, source of funds, proof of liquid capital, lender pre-qualifications, industry fit, NDA execution, and a final advisor sign-off. All buyer prospects go through our screening. Full detail here.

Yes. We want the buyer to be successful with their purchase and the seller to rest assured that their hard work and legacy continues. A typical transition is 30 to 90 days, though there can be exceptions that run longer or shorter depending on what the buyer and seller negotiate.

We have regular communications with sellers throughout the listing process and can discuss any adjustments that should be made based on market feedback.

While this is possible, this type of transaction is not something that we provide services for.

Yes, and we're licensed for commercial real estate brokerage in North Carolina, so both transactions can close in one coordinated process. We can also provide real estate brokerage services for 1031 replacement properties to help minimize capital gains on the real estate sale. More on the CRE practice here.

Trustmark has closed deals in home services franchises, specialty retail showrooms, industrial and logistics, building materials distribution, construction and trades, hospitality, automotive services, and marketing franchises, across 14 U.S. states. Our buyer screening processes work for many industries. Full industry breakdown.

A 30-minute confidential, no-obligation phone call is the right first step. We'll discuss your business at a high level, your timing, your goals, and whether Trustmark is the right fit. Schedule a call here.