Selling Your Business Yourself: The Process for Sole Traders and Partnerships

A sole proprietorship or a small partnership can, in principle, be sold without an advisor — provided you proceed in a structured way and use the right documents. This article shows step by step how a self-run sale works, where the typical mistakes lie, and how the IGCP M&A Tool Kit makes it faster, easier and more professional.

Small businesses are often sold on a handshake and below value. It does not have to be that way.

Can small businesses sell themselves?

Yes. For small, manageable businesses a self-run sale is realistic — when the business is clearly structured, the value is modest and potential buyers are reachable. With higher value, several bidders or a complex structure, it quickly becomes demanding.

The legal form determines the how. A sole proprietorship usually sells the business as a whole via an asset deal — more in selling a sole proprietorship. In a partnership, the partners sell their shares, which usually requires the consent of the co-partners and a look at the partnership agreement. Whether shares or assets change hands is explained in asset deal or share deal?.

The process when you sell yourself

An orderly self-run sale follows the same steps as a large process — just leaner.

1. Organise documents and estimate value. Figures for recent years, contracts, customer list. A first estimate is in what is my company worth?.
2. Create an anonymous short profile (teaser). A one-page profile describing the business without revealing the company.
3. Secure confidentiality. Before details flow, the interested party signs a non-disclosure agreement (NDA).
4. Provide meaningful documents. A factsheet and an information memorandum answer serious buyers' questions.
5. Approach buyers and hold talks. Several interested parties create competition — see how do I find the right buyer?.
6. Record a letter of intent. The letter of intent sets out the key points before detailed review.
7. Due diligence, contract, handover. The buyer reviews, then you sign. What gets reviewed is shown in what is due diligence?.

The most common mistakes in a self-run sale

Five mistakes regularly cost price and time: no NDA before figures go out. A weak or missing information document. A price picked out of thin air. Only a single interested party dictating the negotiation. And a handover without a clean contract. Each of these is avoidable with the right template.

Where the IGCP M&A Tool Kit speeds up the process

The IGCP M&A Tool Kit contains six field-tested templates — non-disclosure agreement (NDA), anonymous teaser, factsheet, information memorandum, letter of intent and exposé. These are exactly the documents a sale process needs. Instead of starting from a blank page, you work with structures drawn from more than 100 supported transactions.

Criterion	Self-run sale without structure	with IGCP M&A Tool Kit
Starting point	blank page	ready-made templates
Appearance to buyers	inconsistent	consistent and credible
Time required	high, drafting everything yourself	considerably lower
Risk of errors (NDA, document)	high	structurally safeguarded
Cost	—	one-off purchase instead of success fee

When an advisor is still worth it

The Tool Kit is the solution for a self-run sale of small businesses. Above a higher transaction value, with several bidders or a complex structure, a supported process usually pays for itself several times over — the calculation is in what does an M&A advisor cost? and succession marketplace or M&A advisor?.

Can I sell my sole proprietorship without an advisor?

For a small, manageable business, yes. What matters is a structured process and the right documents. The higher the value and complexity, the more an advisor pays off.

Which documents do I need for the sale?

At least a non-disclosure agreement, an anonymous teaser, a factsheet or information memorandum and a letter of intent. The IGCP M&A Tool Kit bundles these six templates.

What does the IGCP M&A Tool Kit cost?

It is a one-off purchase — individual templates or the complete package. Current prices are at M&A Tool Kit.

How do I sell shares in a partnership?

The partners sell their shares. Usually the consent of the co-partners is needed, and the partnership agreement governs the terms. The exact structuring should be legally reviewed — this is not legal advice.

When should I bring in an M&A advisor after all?

With higher value, several interested parties or a complex structure. A structured bidding process then usually lifts the price well above the advisory fees.