Selling a small business has always been one of the messiest transactions in the American economy. Most owners spend decades building something, then face a process that's opaque, expensive, and slow.
Baton Market, a New York-based business brokerage platform founded by Chat Joglekar and Dylan Gans, is trying to fix that.
The company connects business owners looking to sell with qualified buyers, wraps M&A expertise into a digital platform, and charges roughly half what traditional brokers typically cost.
It serves U.S. businesses valued from $50,000 to $25 million and up, covering a wide range of small and mid-sized operations.
Key Takeaways
- Baton Market charges a 6% success fee, roughly half the cost of traditional business brokers, with monthly retainers credited back at closing.
- The platform claims a 68% close rate and an average time to close of 5.5 months, compared to industry averages that typically run longer.
- Sellers get access to a vetted buyer network, dedicated M&A advisors, financial reconciliation support, and a data room, all within one platform.
What Is Baton Market?
Baton Market is a technology-enabled business brokerage headquartered at 432 Park Avenue South in New York City. It operates exclusively for U.S.-based businesses and was built around a core problem: the traditional business sale process is broken for most small business owners.
According to Baton's own research, 98% of business owners don't know the value of their business, and 70% of small business owners need to retire within the next decade. That's a lot of businesses potentially changing hands with no clear path forward.
Co-founder Dylan Gans has described how his grandfather, a general surgeon who spent 40 years building a practice, ultimately couldn't find a way to sell and simply shut the business down.
That story is baked into Baton's pitch: owners deserve better options. The company is backed by Bloomberg Beta, Giant Ventures, FJ Labs, and several other investors, and has been featured in Fortune and Forbes.
Baton is accredited by the Better Business Bureau and holds credentials through the International Business Brokers Association (IBBA), including Certified Business Intermediary (CBI) certification.
Who Is Baton Market For?
Baton serves two groups: sellers who want to exit their business, and buyers looking to acquire one.
For sellers, the platform is designed for owners of profitable small businesses who want professional guidance without paying full traditional broker fees.
The minimum annual cash flow requirement varies by plan ($25,000 for Lite, $100,000 for Pro, $1 million for Premium), so the platform has a lower floor than many boutique M&A firms.
For buyers, Baton offers access to listed businesses, a single-platform NDA process, detailed financials, owner interview videos, and white-glove support from analysis to closing.
The company also maintains a roster of off-market listings for buyers who want to search outside the public marketplace.
How the Selling Process Works
Baton's selling process breaks down into three stages: prep and listing, going to market, and closing.
Sellers start with a free business valuation, which Baton builds using cash flow multiples, discounted cash flow analysis, and comparable sales.
The company says it can complete a valuation with as little as one year of financial data, though three years of monthly P&L is preferred for accuracy.
After the valuation, sellers are paired with a dedicated M&A advisor, financials are reconciled, marketing materials are created, and a data room is set up.
From there, the business is listed on Baton's own marketplace and placed on third-party sites like BizBuySell. Baton also conducts direct outreach to strategic buyers, taps its investor network for exposure, and runs a competitor campaign to identify potential local acquirers.
The company reports an average of 10 weeks from listing to contract and an overall 5.5-month average time to close. Baton claims its listings close 50% faster than the industry average and within 10% of the asking price.
Pricing: Four Tiers
Baton's pricing structure is transparent and tiered by level of support. Monthly retainer fees are credited back against the success fee at closing.
| Plan | Monthly Retainer | Success Fee | Min. Annual Cash Flow |
|---|---|---|---|
| Free | $0 | None | None |
| Lite | $500/month | 6% | $25,000 |
| Pro | $1,000/month | 6% | $100,000 |
| Premium | $2,000/month | Double Lehman* | $1,000,000 |
*Double Lehman is a variable fee based on transaction size.
The Free plan provides a valuation and an anonymous off-market profile to gauge buyer interest, with no commitment. Lite and Pro both carry a 6% success fee and go month-to-month after the initial term.
Pro adds hands-on advisor support, tailored strategic buyer outreach, and a $1,000 credit toward financial reconciliation. Premium, aimed at larger businesses, adds a listing roadshow, high-touch advising, and a $5,000 reconciliation credit.
One detail worth knowing: if a Lite plan seller already has a buyer in progress, they can purchase a non-exclusivity rider that allows them to close that deal without owing Baton a commission, provided Baton's advisors weren't involved in the negotiation.
Buyer Experience
Buyers on Baton gain access to a searchable marketplace that includes both listed and off-market businesses. After signing a single platform-wide NDA, buyers can view detailed financials and owner interview videos for any listing.
Baton categorizes its buyers into three types: owner-operators with industry knowledge, strategic acquirers or competitors, and larger professional buyers like serial entrepreneurs.
The platform includes SBA and bank partnership pre-qualification support, which can be a meaningful help for first-time buyers who need financing to close.
Buyer case studies on the site show completed acquisitions across industries including food service, home services, healthcare, and professional services, with buyers based across the U.S.
Verified Performance Claims
Baton publishes several specific performance figures on its website:
- 68% close rate on deals
- 5.5-month average time to close
- 70% of listings close at half the cost of a traditional broker
- 10x more likely to close compared to traditional methods
- 10 weeks average from listing to signed contract
Real-world examples from their case studies include Collective Creative Outdoors in Austin, TX, which sold for $25,000 above the asking price; Grandeza Bookkeeping in Lantana, TX, which went from listing to close in three weeks; and Paradise Ponds in Bethpage, NY, which sold at one-third the cost of traditional brokers.
What Baton Does Not Cover
Baton is currently available to U.S. businesses and residents only. International sellers or buyers cannot use the platform.
The company also doesn't claim to specialize in any single industry, which is a strength in terms of coverage but may be a limitation for highly niche businesses that benefit from a broker with deep sector expertise.
Monthly retainer fees are non-refundable if a deal doesn't close, a point Baton is upfront about.
The company frames these as covering the cost of marketing, outreach, and buyer engagement rather than as profit, but sellers should factor this into their expectations if a sale doesn't materialize within the minimum commitment period.
Accreditations and Credibility Signals
Baton holds accreditation from the Better Business Bureau and membership in the IBBA with CBI certification. The NACVA (National Association of Certified Valuators and Analysts) logo also appears on the site, indicating valuation credentials.
These accreditations matter in a space where many online business brokerages operate without formal credentials.
The company has received press coverage in Fortune, Forbes, and Business Insider, and its investors include Bloomberg Beta and Giant Ventures, both of which are recognizable in the venture capital space.
Conclusion
Baton Market offers a credible, lower-cost alternative to traditional business brokers, with transparent pricing, accredited advisors, and a platform built around data access and speed.
It's worth a close look for any U.S.-based small business owner preparing to sell, particularly those whose businesses generate between $100,000 and several million dollars annually in cash flow.