Exit Planning Advisor vs. Business Broker: What’s the Difference?
f you’re a business owner who has ever thought, “Someday I might want to sell my company” (or, let’s be honest, “I’d sell this thing tomorrow if I could just find a buyer”), you’ve probably heard two terms thrown around: business broker and exit planning advisor.
At first glance, they sound like the same thing. They both have something to do with selling your business. But here’s the truth: they serve entirely different purposes, and understanding the difference could be the key to whether you sell for top dollar or end up walking away wondering what went wrong.
What a Business Broker Actually Does
A business broker is like a real estate agent, but for companies. Their role is primarily transactional:
They package and market your business to potential buyers.
They field inquiries and qualify prospective buyers.
They negotiate terms, coordinate paperwork and keep the deal moving toward closing.
If your business is already in good shape, with steady profits, clean financials, strong systems, then a broker can be a great ally. They’ll help you find a buyer and get a deal across the finish line.
But here’s the limitation: brokers are not in the business of fixing what’s broken. They don’t usually have the time or incentive to help you untangle messy books, improve profitability or set up stronger leadership structures. Their job starts when you’re ready to sell now.
That’s why too many business owners call a broker only to hear: “Sorry, you’re not ready yet.”
What an Exit Planning Advisor Does
An exit planning advisor, on the other hand, is like your long-term business fitness coach. While a broker is focused on today’s transaction, an advisor is focused on making sure you and your business are actually ready—financially, operationally, and emotionally—for that transaction whenever it happens.
Here’s what an exit planning advisor brings to the table:
Strategic Clarity: Helping you step out of the weeds so you can see your company as an asset, not just a job.
Value Building: Identifying where your business is leaking money, overly dependent on you, or missing scalable systems and then fixing it.
Owner Readiness: Making sure the sale will actually meet your financial independence goals and personal lifestyle needs.
Timing Guidance: Helping you decide when to sell so you don’t leave money on the table or sell under pressure.
An advisor’s work often starts years before you sell. Think of it as tuning up your business engine, so when it’s time to sell, the broker has an easy job: finding a buyer who’s willing to pay a premium for a business that runs smoothly and doesn’t depend on the founder working 80 hours a week.
The Key Differences at a Glance
Timeline: Advisors start working with you years before a sale; brokers step in when you’re ready to list.
Focus: Advisors focus on building value and preparing you; brokers focus on marketing and closing the deal.
Compensation: Advisors charge planning and advisory fees; brokers earn (big) commissions when your business sells.
Mindset: Advisors are holistic, looking at your personal, financial, and business goals. Brokers are transactional, looking at the deal.
It’s not that one is better than the other; they’re just different tools for different stages of your exit journey.
Opinion of Value vs. Asking Price: What’s the Difference?
This is one of the biggest points of confusion for owners. Both exit planners and business brokers talk about “value,” but they mean very different things:
Opinion of Value (Exit Planner):
A grounded, analytical estimate of what your business is worth today based on financial performance, risk, industry multiples, and how transferable the business is without you. It’s your baseline; the diagnostic check-up that shows where you are now and highlights the gap between current value and your exit goals.Asking Price (Business Broker):
A market-facing number set when the business goes up for sale. It’s part science (recent comparable sales, financials) and part strategy (seller expectations, market appetite and room for negotiation).
Think of it this way:
The opinion of value keeps you realistic.
The asking price tests the market.
A smart exit plan starts with an opinion of value, then uses that insight to prepare the business so the broker’s asking price isn’t wishful thinking. It’s a confident, justifiable number buyers will pay.
How They Work Together
The smartest business owners don’t choose between a broker and an exit planning advisor. They use both but in the right order.
First, an exit planning advisor helps you prepare: building profitability, cleaning up the books, creating processes, and aligning your goals. I generate an '“opinion of value” of your business, which takes a very holistic approach to valuation that takes into account financial performance along with all the intangible capital; things like your operational systems, team, brand, audience, risk profile and much more.
Then, the broker steps in to market your polished, high-value business to the right buyers and negotiate the best deal. One of the first things they do is review your company financials (usually just tax returns) to come up with an Asking Price (which is not the same as valuation). Their priority is to attract the right buyer and close the sale as quickly as possible, so they will take those factors into consideration when determining an Asking Price.
When you skip the advisor, you often end up disappointed. Deals fall through. Buyers offer lowball prices. Or worse, you can’t sell at all because the business relies too heavily on you.
When you skip the broker, you might miss out on the competitive bidding process or make costly mistakes negotiating on your own.
The real magic happens when I, as your exit planning advisor sets the stage and the broker delivers the performance. Not all business transactions need to involve a broker, so I can also help you make that decision and refer you to some of the top business brokers in the travel industry at the right time.
Why This Matters to You
Too many owners wait until they’re burned out, stressed, or facing a life event before they think about selling. That’s when they call a broker and sometimes hear the harsh truth that their business isn’t worth what they thought.
By contrast, working with an exit planning advisor early means you have options. You can grow smarter, not harder. You can pay yourself more now and still increase the value of your company for later. You can decide whether selling in two, five, or ten years makes sense, knowing that you’ll be ready when the time is right.
And when you do call that broker? You’re walking in with confidence, because you’ve done the prep work.
The Bottom Line
A business broker will sell your company. An exit planning advisor will make sure you and your company are ready to sell for the best price and on your terms.
Think of it like selling a house: the broker is your real estate agent, but the advisor is your contractor, interior designer, and financial planner rolled into one. One gets you a “sold” sign, the other makes sure you don’t regret selling.
So if selling your business is even a faint thought in the back of your mind, don’t wait until you’re exhausted to pick up the phone. Start with an exit planning advisor. Your future self — and your eventual broker — will thank you.
