Business Exits is a business brokerage firm founded in 2013 by Jock Purtle, who first brokered the sale of his own company before building out the service for other sellers.
The firm specializes in selling companies with $2 million to $60 million in annual revenue and operates nationwide with brokers in Los Angeles, New York, Miami, Phoenix, Las Vegas, Atlanta, and Detroit.
For entrepreneurs considering selling a business in that revenue range, the question of legitimacy comes down to track record, process transparency, team credibility, and fee structure. This review covers all of it.
Key Takeaways
- Business Exits closed 91% of deals it took to market in the last 12 months, totaling $315 million in transaction volume.
- The firm charges no upfront fees, brokers only get paid when a deal closes.
- Axial, a private deal network, ranked Business Exits the #1 business broker in the United States.
What Is Business Exits?
Business Exits is a licensed business brokerage that focuses on mergers and acquisitions for mid-market companies in the $2M to $60M revenue range. The company was built by entrepreneurs who had personally bought, sold, or operated businesses before becoming brokers.
That background is central to how they position the service: they understand what buyers are looking for because several of them have been on both sides of a deal.
The firm has offices across the country and handles deals across most industries. Their buyer database includes thousands of vetted investors and acquirers, and they claim that roughly 70% of their deals are sold to buyers already in that database — meaning a significant portion of deals never require external marketing to close.
Who Is Behind the Company?
Jock Purtle founded the company in 2013 after successfully selling his own business. He has been involved in business operations since 2004 and now leads the firm as Founder and Chairman. The broader team includes several partners and senior brokers with entrepreneurial backgrounds.
Partner Loren Vandegrift ran his own technology strategy consulting firm for over 13 years before joining Business Exits. Partner Robert Kale operated an affiliate marketing business for seven years and has been with the firm for over five years.
Broker Paul Cheetham graduated from Harvard Business School in 2014 and holds a Certified Financial Planner designation, with additional experience in finance, marketing, and law.
Broker Ace Chapman has been buying and selling businesses since age 19 and has built private equity funds that acquired over 200 businesses in the past two decades.
These aren't generalist brokers who stumbled into the field. Most of them have started, scaled, or exited companies firsthand, which gives the team a practical lens that's harder to find at traditional brokerage firms.
How the Process Works
Business Exits uses a 10-step process from first contact to final wire transfer. Here is how it breaks down:
| Step | What Happens | Timeline |
|---|---|---|
| 1. Valuation | They review financials and provide an estimated market value | Within 12 hours |
| 2. Broker Agreement | Agreement signed; payment only triggers at closing | Shortly after valuation |
| 3. Marketing Package | Custom offering memorandum built for buyers | 5–14 days |
| 4. SBA Financing Setup | They organize SBA 7(a) buyer financing through their lender network | Concurrent with step 3 |
| 5. Deal Goes to Market | Sent to buyer database, 13 marketing channels, and direct outreach | 1–3 months |
| 6. Offer Acceptance | Seller reviews all offers and selects the best buyer on price, terms, and background | Varies |
| 7. Due Diligence | Buyer verifies tax returns, bank statements, operations | 1–3 months |
| 8. Contract Development | Buyer drafts purchase agreement; seller's attorney reviews | Concurrent with step 7 |
| 9. Sign & Escrow | Documents signed; third-party escrow holds funds until assets transfer | 2–7 days |
| 10. Transition | Seller trains new owner, handles introductions to staff and vendors | 1–3 months |
One detail worth noting: Business Exits arranges SBA 7(a) financing for buyers as part of the process. That significantly expands the pool of qualified buyers since many acquirers fund acquisitions through SBA loans rather than all cash. More qualified buyers in the pool means more competition for the deal, which generally benefits the seller on price and terms.
What Business Exits Does Not Charge For
The firm offers a free business valuation with no obligation. Sellers pay nothing until a deal closes. Business Exits also explicitly states that when it connects sellers with third-party service providers, accountants, attorneys, quality-of-earnings analysts, it earns no referral fees or kickbacks.
Those providers are paid directly by the seller, and Business Exits has no financial incentive to steer anyone toward a particular vendor.
That kind of transparency is notable in an industry where broker incentives are not always clear. Many brokerage firms earn fees at multiple points in a transaction, creating situations where the broker's interests and the seller's interests can diverge.
Pros and Cons
| Pros | Cons |
|---|---|
| No upfront fees; commission only at closing | Focused on $2M–$60M revenue businesses; not suitable for very small sellers |
| 91% closing rate in the last 12 months | Commission percentage not publicly listed on the website |
| Ranked #1 business broker by Axial | Full deal timeline can stretch 6–12 months including due diligence |
| Brokers have real entrepreneurial backgrounds | Not ideal for sellers seeking a very quick, below-market exit |
| Free valuation with NDA protection | Geographic office presence limited to 7 cities |
| SBA financing arranged for buyers | |
| No referral fees from third-party providers | |
What the Reviews Say
Multiple verified client testimonials appear on the Business Exits website and across third-party review platforms. Several patterns show up consistently across reviews. Sellers frequently mention that the process was faster than they expected.
Mack McConnell, CEO of Taster's Club, noted that the firm generated around 12 highly qualified offers. Philip Neumeier of BeardFarmer.com described the team as highly organized, with no wasted time. John Phillips, owner of Willet Hauser, credited the firm with adding 15 years to his retirement planning beyond what he had anticipated.
Critical feedback is harder to find, which is typical for a firm that curates its testimonial page. The most reasonable caveat is that the process takes time. Sellers who want a fast exit at maximum value may find the 6-to-12-month timeline difficult, though it is fairly standard for mid-market M&A.
Is Business Exits Legitimate?
The indicators point clearly toward yes. The company has operated since 2013 with a verifiable track record. Axial, which operates a private network used by thousands of deal professionals and M&A intermediaries, ranked Business Exits as the #1 business broker in the country, that is an external third-party ranking, not a self-applied label.
The firm closed $315 million in transactions in the last 12 months at a 91% closing rate. The team members have real professional histories that are checkable. The fee structure (success-only) is standard for reputable brokers in this market segment, and the NDA-first approach to valuations protects sellers before they disclose anything sensitive.
None of these are guarantees of a perfect experience, but together they form a credible picture of an operating firm with real results.
Who Should Use Business Exits
- Business owners with $2M to $60M in annual revenue who are ready to sell
- Entrepreneurs who want a broker that can speak the language of operators, not just financiers
- Sellers who want transparent pricing and process from the start
- Owners who need help structuring the deal for buyer financing, not just finding a buyer
- Those who want maximum value and are willing to spend 6–12 months to get it
Frequently Asked Questions
What does Business Exits charge?
Business Exits operates on a success-fee model, meaning sellers pay nothing until the deal closes. The exact commission percentage is discussed during the broker agreement stage and is not publicly listed on their website. This structure is standard for mid-market business brokers.
How long does it take to sell a business through Business Exits?
The typical timeline from listing to close ranges from 6 to 12 months, depending on the complexity of the business, the number of offers received, and how smoothly due diligence goes. Business Exits claims a 91% closing rate for businesses it takes to market within that window.
What size businesses does Business Exits work with?
The firm targets businesses with $2 million to $60 million in annual revenue. Sellers outside that range may find the firm's process less suited to their situation, and Business Exits may decline to take on businesses that fall outside their target market.
Is my financial information safe when getting a valuation?
Business Exits signs a non-disclosure agreement before reviewing any financial information during the valuation stage. The firm describes the process as 100% confidential.
Who are the brokers at Business Exits?
The broker team includes entrepreneurs and former business owners with backgrounds in technology, finance, e-commerce, and private equity. Key team members include founder Jock Purtle, Partners Loren Vandegrift and Robert Kale, and brokers including Paul Cheetham (Harvard Business School, CFP) and Ace Chapman, who has participated in 200+ acquisitions over two decades.
Conclusion
Business Exits has earned its reputation through consistent deal volume, transparent practices, and a team that brings real operational experience to the table.
For entrepreneurs with businesses in the $2M to $60M revenue range who want professional M&A representation without paying anything upfront, it is one of the more credible options in the market.