Selling

What’s your business actually worth?

It’s usually the first question an owner asks, and the hardest one to answer. Most business owners have a number in mind. Few have tested it against how a buyer evaluates the business.

Why the Number Isn’t Simple

A business’s value isn’t just an industry multiple applied to revenue. Buyers in the lower middle market assess risk, leadership, growth potential and transferability, not just what the business made last year.

That’s why two businesses with identical revenue can sell for very different numbers. The difference is almost never the financials. It’s how ready that business is to be understood, trusted, and believed in—and that’s something we build into every step.

Two ENLIGN advisors reviewing blueprints and financial documents at a table in a modern office, representing expert business valuation and defensible financial recast analysis.

Where Math Ends and Experience Begins

Every valuation begins with a defensible recast, built on rigorous review and an expert understanding of Buyer motivations, Lender requirements, and SBA interpretation.

While most believe “the numbers are the numbers,” they are not. Miss an add-back and value drops. Push one too far and trust erodes. ENLIGN papers what’s defensible, cuts the immaterial, and presents normalized financials a Buyer can accept and a Lender can stand behind.

From there, the multiple is a range, not a formula. We don’t leave it to chance. Buyer conviction is shaped long before the negotiation starts. Value drivers like owner independence, customer concentration, team strength, and market opportunity are built into every Buyer touchpoint. By the time a Buyer sits down, the case has already been made.

Priced to Close, Not Just to List

Before your business ever goes to market, ENLIGN presents it to a Lender for pre-qualification. This isn’t a formality. It’s how we find out what’s actually bankable before a Buyer does.

That perspective further informs how we position and negotiate. It tells us where a Buyer’s financing will hold and where it will strain, so we’re never caught defending a transaction structure a Lender won’t support. It also means you know, long before a Buyer ever walks in, exactly what they’ll face when they try to finance the deal.

A frictionless transaction isn’t an accident. It’s the product of setting up both sides to succeed, the Seller and the Buyer, before either one is under pressure to make it work.

Testimonials
Jeff at ENLIGN was FANTASTIC! This was my first time buying a business, and although he was representing the Sellers, he was extremely helpful to me and guided me through the process. If the time comes that I’m buying or selling, I WILL be contacting Jeff again!!
Richard Roberts
Product Distribution
Jeff’s experience and credentials would be difficult for someone to challenge. Steve Zimmerman fought and negotiated on our behalf like a lioness protecting her cub. Would recommend to anyone looking for professional representation when selling their business.
Ray Gottsleben
Health Services
When You’re Ready

The only way to know what your business is actually worth is to have the conversation.

Start A Confidential Conversation

Questions owners ask about valuation.

How is my business valued?

A business is valued through more than revenue or an industry multiple. Buyers look at the company’s financial performance, risk, operating reality, growth potential, and how clearly the opportunity can be understood and trusted. ENLIGN uses structured discovery to build a Buyer-informed, defensible view of value.

What’s the difference between EBITDA and SDE?

EBITDA and SDE are earnings measures used to value a business. Buyers apply a multiple to one or the other to arrive at a price.

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It’s typically used for businesses with more than $1M in annual earnings, where Buyers plan to install a management team. Interest, taxes, depreciation, and amortization are added back, along with discretionary and non-recurring expenses, and executive compensation is normalized to market rate.

SDE stands for Seller’s Discretionary Earnings. It’s typically used for businesses with less than $1M in annual earnings, where the Buyer plans to run the business themselves. In addition to the EBITDA add-backs, SDE adds back one owner’s full compensation to reflect the total financial benefit available to a single owner-operator.

Do I need a valuation before talking to an advisor?

No. An initial conversation is often the right place to start. It helps clarify what information is available, what buyers are likely to evaluate, and whether a formal valuation or broader readiness work should come next.

How long does a valuation take?

Timing depends on the quality and availability of the financial, operational, and market information needed to understand the business. A useful valuation is not just a quick estimate; it requires enough discovery to identify the value drivers, risks, and financing considerations that buyers will examine.

Will a valuation stay confidential?

Yes. The valuation discussion and the information used to prepare it are handled confidentially. If a business later moves toward market, buyer-facing materials are shared securly, and Virtual Deal Room access is provided only after a buyer has signed an NDA.

Secret Link