Playbook Media · Compare buyers6 / 8
Compare buyers
Hire an M&A advisor or talk to a buyer?
An M&A advisor runs a structured process: materials, outreach, offers and negotiation. A direct buyer skips the process. Which you need depends on your size and your goals.
Contents6.1Do I need an M&A advisor?1 / 4
§ 6.1
Do I need an M&A advisor?Often not at this size.
An M&A advisor helps most when the business is large enough for many qualified buyers to compete and you want someone to manage the process. For a business at $5k–$20k in monthly recurring revenue, a direct conversation and a good lawyer are often enough.
- Advisors bring preparation, outreach and negotiation.
- Many advisors have a minimum deal size.
- You still need your own lawyer either way.
§ 6.2
Advisor and direct buyer compared.Typical patterns.
| M&A advisor | Playbook Media | |
|---|---|---|
| Their role | Works for you, runs the sale. | The buyer. |
| Cost to you | A retainer, a success fee or both. | No fee. You pay your own advisers. |
| Process | Materials, outreach to many buyers, rounds of offers. | Overview, conversation, records review, proposed terms. |
| Best for | Larger businesses where competition matters. | Founders who want a simple, private sale. |
§ 6.3
When each path fits.An honest list.
Hire an advisor when
- Several qualified buyers could compete for the business.
- You want someone to manage the process for you.
- The terms are complex, for example with several shareholders.
Talk to us directly when
- The business fits our search profile.
- You want a short, private process.
- You would rather keep the fee.
§ 6.4
Questions founders ask.Short answers.
Will you work with my advisor?
Yes. If you already have an advisor, include them from the first email.
Does an advisor raise the price?
Competition can raise the headline price. Compare it with the fee and the time the process takes.
Which advisers do I need without an M&A advisor?
A lawyer for the agreement, and often an accountant for the records and the tax.
End of comparison