The right preparation makes the difference. 87% of our listings close in 3 to 6 months.
First Choice Business Brokers (FCBB) helps owners of privately held businesses sell with confidence. We deliver an honest valuation, quiet and confidential preparation, and a 3 to 6 month path to a successful close. Most of our work centers on businesses with roughly $500K to $10M in enterprise value, but we take on deals ranging from about $150K to $50M.
Led by Mike & Lynn Lee, Co-Owners. Mike Is Managing Director and a CEPA. They and their team serves owners across Utah, Montana, Wyoming, and Colorado.
WHY PREPARATION MAKES THE DIFFERENCE.
Most businesses that go to market unprepared do not sell. The ones that prepare first usually do. That single difference shapes everything about how we work.
What causes most listings to stall:
- Roughly 70% to 80% of listed businesses never sell.
- About 23% fail because of unrealistic seller expectations, often encouraged by brokers chasing a quick listing.
- Around 45% fail because of poor financial records, issues that could have been addressed before listing.
- Owner-dependent businesses often see a 50% to 70% reduction in value.
- Overpriced businesses, typically 15% or more above market, rarely sell.
What proper preparation produces:
- About 87% success rate for the businesses we bring to market, and only after proper preparation.
- Around 94% of asking price achieved on average, compared with an industry average near 85%.
- About 4.7 months average time to close, compared with an industry average of 9 to 12 months.
- Roughly 23% higher sale prices than unprepared listings.
- Zero businesses withdrawn from market because of unrealistic pricing.
Valuation
"What do I actually have?"
We run an SDE and Adjusted EBITDA analysis, pull comparable transactions from similar businesses, and assess buyer demand. This is delivered through our Market Readiness and Value Assessment.
TIMELINE;
1 to 2 weeks
OUTCOME:
Clear valuation range and roadmap
Preparation
"Am I ready for the market?"
We handle document organization, financial cleanup, the Confidential Information Memorandum, and the buyer outreach plan. The work stays quiet and confidential so you can stay focused on running the business.
TIMELINE:
About 30 days if clean. 60 to 90 days if cleanup needed.
OUTCOME:
Market-ready, professionally packaged
Exit
"How do I close with the right buyer?"
We run targeted, confidential buyer outreach, then screen for financial capacity, experience, and culture fit. We negotiate the LOI and the definitive purchase agreement, manage due diligence, and guide closing.
TIMELINE:
3 to 6 months from market to close
OUTCOME:
Right buyer, deal closed, and value maximized
95%
Employee retention 12 months after close
92%
Customer retention through transition
89%
Sellers report values and culture preserved
87%
Listed deals reach successful close
Proven Authority: $15B in Transactions Since 1994
Since 1994, First Choice Business Brokers has changed how businesses sell nationwide, and we apply that same proven expertise across the Mountain West with a consultative approach that puts your outcome first.
Around 85 independent owner-operators plus 300+ trained agents nationwide, each office locally owned and operated, backed by a large database of vetted, qualified buyers actively searching for businesses like yours.
$15 Billion
About $15B in business transactions that First Choice Business Brokers has helped facilitate, across nearly every kind of business and deal you can imagine.
32 Years
Founded in 1994 and still owned and guided by the founders, Jeff and Linda Nyman, with best-in-class systems and processes built to help owners navigate the seller's journey and exit when the time is right.
FAQs
Frequently Asked Questions About Our Approach
Why does preparation come first?
Most businesses that go to market without proper preparation do not sell. We have found that one to six months of focused preparation often leads to a faster sale at a higher price. Our job is to maximize your outcome, not just to collect a listing fee.
What if I need to sell quickly due to health or other circumstances?
Urgent situations are real, and we plan for them. We can run a rapid assessment, and if your business is market-ready we may begin marketing right away. We will be honest about any challenges and work to address them quickly rather than give you false hope.
What makes your approach different?
Many firms focus on getting the listing first and worry about readiness later. We do it the other way around. Honest assessment and proper preparation come before we go to market, which is a large part of why our close rate is around 87%.
What happens if my business is not ready to sell?
We provide a detailed Market Readiness and Value Assessment with specific recommendations for improvement. You can make those changes yourself, work with our vetted partners, or wait until conditions or your situation change. There is no pressure and no upfront fee for the consultation.
architecting win/win deals that last
Testimonials
Blair M
Mike Lee and his team have done amazing work analyzing businesses for sale and helping me find a business to buy that is right for me. I would recommend Mike and his team for their hard work and honesty.
Alan S
We have had an excellent experience with Mike and the team at First Choice Business Brokers. They are professional, knowledgeable, and genuinely helpful. I highly recommend Mike and his team.
Jason M
I worked with Mike and the First Choice Business Brokers team on the sale of our company. They protected confidentiality, created strong buyer interest, and helped us choose from multiple offers. The process was organized, communication was excellent, and we closed on great terms right at our $6.9M asking price. Five stars without hesitation.
What's Your Journey?
We help you gauge the readiness and attractiveness of your business. When the timing is right, we determine market value and then act as your confidential matchmaker to find the right buyer while you stay focused on running the business. Reach out to learn more about the process.
We have lived the challenges of buying a business, including the lack of attention many buyers get from brokers. As experts in due diligence and in structuring deals that work for both sides, we help you navigate the complexities of an acquisition. It is a journey we have been on, and we would like to help.
Want a free valuation?
If something in your life changed and you need to sell now, or you are just starting to think about it and are not sure what your business is worth, we can help with a free, no-obligation valuation. The process is fairly simple, and we would be glad to walk you through it.
ABOUT US
About the team you'll be working with.
FCBB Summit is a team of M&A transaction experts led by Mike Lee, Managing Director and Certified Exit Planning Advisor (CEPA).
We handle the full deal, including valuation, go-to-market strategy, buyer vetting, due diligence, negotiation, closing, and transition, typically in 3 to 6 months, with a close rate near 87%.
Before we take on a new listing, we assess the business from a buyer's perspective. If it is ready to close, we go. If it is not, we are honest about what needs to change and connect you with vetted partners, including CPAs, M&A attorneys, wealth advisors, and exit planners, to get you there.
The difference is in the preparation. About 87% of the businesses we take to market reach a successful close.
Who We Work With
We specialize in privately held businesses with roughly $500K to $10M in enterprise value, headquartered in Utah, Wyoming, Montana, or Colorado. If your business is smaller or larger, we can refer you to a vetted partner who specializes in your range.
Industries we know best:
Construction & Home Services
- a wide range of specialty trades, including custom cabinetry, concrete, painting, flooring, landscaping, excavation, and paving.
Retail and Consumer Goods
- retail operations such as apparel, specialty stores, convenience, and auto parts, plus consumer packaged goods brands selling direct-to-consumer, wholesale, or through e-commerce.
Manufacturing
- light and heavy manufacturing, custom fabrication, contract manufacturing, and component or finished-goods production across metal, plastics, wood, electronics, packaging, and consumer products.
Automotive
- repair shops, body shops, quick lube services, tire centers, aftermarket accessories, and independent auto dealerships.
Restaurants and Bars
- full-service restaurants, quick-service concepts, cafes, coffee shops, bars, and specialty food outlets.
Technology
- software-as-a-service (SaaS), IT services, managed service providers, web and app development, cybersecurity, and tech-enabled platforms.
Ready to Begin Your Journey to Selling Your Business?
Watch our short video, then reach out so we can talk about how to maximize the value of your business and guide you through a smooth transition.
Read our free eBook and be prepared!
“A great intro to selling your business.”
This guide explains how to prepare your business for sale, how to value it accurately, and what the process looks like. It answers questions such as:
- What are the steps to prepare for a business sale?
- How do you value a business, and how are business values calculated?
- How can you maximize the value of your business?
- How do you make your business more appealing to buyers?
- How do you tell the story of your business?
- When should you work with a business broker?
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