A business broker lists your company. An M&A advisor maximizes what you take home. For business owners with $2M+ in annual revenue, the difference in outcome — in deal price, structure, and after-tax proceeds — is significant.
Broker vs. Advisor
The distinction is not academic — it directly affects how much money you walk away with. Here is what each engagement looks like in practice.
| Area | Business Broker | M&A Advisor (Michelet Financial) |
|---|---|---|
| Valuation | Rule-of-thumb multiple; limited financial normalization | ✓ Full EBITDA normalization, DCF, comparable transaction analysis |
| Buyer sourcing | Marketplace listings (BizBuySell, etc.); passive outreach | ✓ Confidential, curated outreach to strategic buyers and PE firms |
| Confidentiality | Listings are often public; employees and competitors may find out | ✓ Full confidentiality protocol; NDA before any information is shared |
| Deal structure | Focuses on headline price; limited deal structure analysis | ✓ Asset vs. stock sale, earn-outs, rollover equity, seller financing analyzed for after-tax impact |
| Tax strategy | Typically none; referred to CPA at close | ✓ Integrated tax strategy beginning before the sale; deal structure chosen for maximum after-tax proceeds |
| Negotiation | Facilitates; rarely advocates assertively | ✓ Active advocate; runs competitive buyer process to drive price |
| Best fit for | Main-street businesses under $1M in value; simple transactions | ✓ Businesses with $2M+ revenue; complex deals; PE or strategic buyers |
| Who handles your deal | Junior agent or assistant | ✓ Brandt Michelet directly — senior advisor only |
The Advisory Advantage
Strategic buyers and private equity firms negotiate acquisitions professionally. Business owners do it once. When the other side of the table has done dozens of transactions and you have a business broker with a commission incentive to close fast, you lose on price, structure, and taxes.
A business that goes to market publicly risks losing employees, customers, and supplier relationships before the deal closes. M&A advisory means controlled, confidential outreach — only qualified, NDA-signed buyers ever see your financials.
Two deals with the same headline price can produce wildly different after-tax outcomes. Asset vs. stock sale, earn-out terms, installment structure, and rollover equity all affect what you net. We structure for maximum after-tax proceeds — not just maximum price.
The right strategic buyer can pay a significant premium over a financial buyer because they see synergies you cannot realize alone. We build a curated list of strategic and financial buyers — not a marketplace listing — and run a competitive process.
Michelet Financial is a financial advisory firm, which means tax strategy is not an afterthought referred to your CPA at closing. It is built into deal structure from day one. The difference is often six or seven figures in after-tax proceeds.
Related: M&A Advisory Services · Business Valuation
Brandt Michelet's Process
Our founder Brandt Michelet served as a financial strategy lead at Landry's, Inc. — Tilman Fertitta's $4B+ private hospitality empire. That institutional-grade experience comes to every sell-side engagement.
Full EBITDA normalization, financial statement analysis, and preliminary valuation range. Identify and resolve deal-killers before you go to market.
Prepare a professional Confidential Information Memorandum (CIM). Build a curated list of strategic acquirers and PE firms. All outreach is confidential — NDA required before information is shared.
Manage buyer outreach, respond to IOIs, and run a structured process that creates competitive tension — the single most effective lever for maximizing price.
Negotiate deal terms, price, and structure. Evaluate LOIs not just on headline price but on the full economic picture — working capital, earn-outs, reps and warranties, and tax structure.
Manage buyer due diligence, coordinate with legal counsel, resolve open issues, and guide the deal to a clean close — protecting your price and terms through the finish line.
Industries Served
Michelet Financial works with business owners across a range of industries in the $500K–$20M revenue range — the lower middle market where institutional-quality advisory makes the greatest difference.
Accounting firms, law practices, engineering firms, staffing companies, and B2B service providers. These businesses often carry significant intangible value that a broker misses.
Specialty manufacturers, industrial distributors, and supply chain businesses with recurring customer relationships and proprietary processes.
Dental practices, veterinary clinics, home health, behavioral health, and healthcare services businesses — navigating regulatory considerations alongside financial deal structure.
Software companies, managed IT service providers, and tech-enabled businesses where recurring revenue multiples and growth trajectory drive valuation.
General contractors, specialty subcontractors, and home services businesses — where bonding capacity, backlog, and owner dependency are key deal considerations.
Multi-unit restaurant groups, franchise operators, and hospitality businesses. Brandt Michelet's background at Landry's gives us an edge in this sector.
FAQ
Start with a confidential conversation. Brandt Michelet will assess your business and tell you exactly what we think it’s worth and how to maximize your outcome — no commitment required.
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