How to choose a business broker (UK)
The right adviser depends on your size, sector and how hands-on you want the process to be. This page compares common routes to market, outlines typical fee patterns, and lists questions and warning signs. Business brokerage in the UK is generally unregulated as a dedicated profession — so track record and contract terms matter more than a title on a website. Source: The Business Valuers (UK adviser): how to choose a business broker
Main-street broker vs M&A adviser vs online marketplace
• Business brokers / business transfer agents: often suited to smaller owner-managed firms. They market the business, field enquiries and help coordinate offers. Depth of financial and process support varies widely.
• M&A advisers / corporate finance firms: more common as deal size and complexity rise. They usually run a structured process, prepare fuller materials and negotiate with trade or financial buyers.
• Online marketplaces: useful for visibility and inbound interest, but you (or a separate adviser) still handle qualification, negotiation and legal process.
Some firms blur these lines. Match the firm to your deal size and buyer type, not to the most optimistic brochure claim.
Typical fees (typical, varies)
UK engagements often combine an upfront or monthly marketing retainer with a success fee on completion. Success fees are commonly in a rough 3–10% range of consideration depending on size and complexity (typical, varies); larger deals usually sit toward the lower end of percentage terms, sometimes with staged or scaled fees. Always read what the fee is calculated on (enterprise value, equity value, cash free/debt free assumptions) and when it becomes payable. Retainer amounts and exclusivity periods also vary — compare written terms, not verbal summaries. Source: The Business Valuers (UK adviser): how to choose a business broker
Questions to ask
Ask: What size and sector deals have you completed in the last two years? Who will do the day-to-day work? How do you find buyers, and how do you protect confidentiality? What is included in the retainer vs the success fee? How long is exclusivity, and what happens if I withdraw? How are conflicts handled if you also advise buyers? Can I speak with recent seller references? Who pays legal and marketing third-party costs?
Red flags
Be wary of: guaranteed sale prices; pressure to sign long exclusivity before you have seen a written fee agreement; vague marketing plans; reluctance to explain how value was estimated; fees that crystallise on any introduction regardless of completion terms you never approved; and firms that will not put buyer vetting and confidentiality processes in writing.
Because UK business brokers are generally unregulated as such, check Companies House filings, professional memberships where claimed, insurance, and contract termination rights yourself — or have your solicitor review the engagement letter.