Guides for owners · 7 min read

Do you need a business broker? Brokers vs selling yourself vs a marketplace

By Colton Doan, founder of Sellvara · Updated October 30, 2026

When Canadian owners decide to sell, the first big choice is how to find a buyer. There are three main routes: hire a business broker, sell the business yourself, or list it on a marketplace while your own advisors guide you. None is right for everyone. This guide sets out what each one involves, what it costs, and when it makes sense.

Option 1: Hire a business broker

A business broker markets your business, finds and screens buyers, and manages the process through to closing. Larger deals are often handled by M&A advisors, who do similar work for bigger companies.

What it costs. Brokers are usually paid a success fee, a percentage of the sale price, when the deal closes. For smaller businesses, fees in the range of 5% to 12% are common, sometimes with a minimum fee, and some brokers also charge an upfront or monthly fee. Most ask you to sign an exclusive agreement for a set period. Always get the fee, the length of the agreement, and what happens if you find the buyer yourself in writing before you sign.

Good fit if:

• you don't have the time to run a sale while running the business;
• your business is large or complex, and you want someone experienced managing negotiations;
• you have no idea who might buy it, and want a professional search.

Watch out for:

• the fee, which can be a large share of a small business's price;
• long exclusive agreements that tie you in if things aren't working;
• the size of your business: many brokers focus on larger deals, and smaller businesses can get less attention.

Option 2: Sell it yourself

Many small businesses are sold to someone the owner already knows: an employee, a family member, a competitor, a supplier or a customer.

What it costs. No commission, but you'll still pay your accountant and lawyer, and you'll spend a lot of your own time.

Good fit if:

• you already have a likely buyer in mind;
• you're comfortable negotiating, and you have good advisors behind you;
• the business is simple and easy to explain.

Watch out for:

• selling for less than the business is worth because you only talked to one buyer;
• informal deals between people who know each other, which still need proper contracts;
• confidentiality, which is harder to protect when you're doing the outreach yourself.

Option 3: Use a marketplace with your own advisors

Online business-for-sale marketplaces let you list a business and reach buyers you don't know. The better ones protect your identity, so buyers see a summary first and you decide who gets the details.

What it costs. It varies. Some marketplaces charge a listing fee, some charge a success fee, and some are free for a period. You'll still pay your own accountant and lawyer.

Good fit if:

• you want to reach more buyers than you know personally;
• you want to stay in control of who sees what, and when;
• you already have an accountant and lawyer you trust to guide you through the sale.

Watch out for:

• marketplaces that publish too much about your business by default;
• doing it without advisors: a marketplace finds buyers, but you still need professionals for the valuation, the structure and the contracts.

Side by side

Questions to ask before you decide

• How much time can I realistically spend on the sale over the next 6 to 12 months?
• Do I already know someone who might buy it?
• How much would a broker's fee be on my likely price, and what would I get for it?
• Do I have an accountant and lawyer who have been through a business sale before?
• How important is it that staff and customers don't find out early?

Whatever you choose, keep your advisors close

The route you choose changes how you find a buyer. It doesn't change the need for good advice on price, tax and contracts. The people who already know your business, usually your accountant and your lawyer, are often the best guides you have.

Common questions

How much do business brokers charge in Canada?

Brokers are usually paid a success fee, a percentage of the sale price. For smaller businesses, fees in the range of 5% to 12% are common, sometimes with a minimum fee or an upfront fee. Always get the terms in writing.

Is it better to sell a business yourself or use a broker?

It depends on your time, your network and the business. A broker suits owners who want the process managed for them. Selling yourself or through a marketplace suits owners who have good advisors and want to stay in control.

Can I use a marketplace and still have professional help?

Yes. Many owners list on a marketplace while their own accountant and lawyer handle the valuation, tax structure and contracts.

How Sellvara works

Sellvara is a Canadian marketplace built for the third option. You list your business privately, buyers see only a category, a region and a revenue range, and you approve who gets your details after they sign an NDA. Your own advisors can be part of the process from the start. Listing is free during our launch period. See how selling works, or start with what your business might be worth.

This guide is general information, not legal, tax or financial advice. Every sale is different: talk to your own accountant and lawyer before you decide.