Selling a business you've spent 20 or 30 years building is one of the largest financial decisions you'll ever make.
Earned Exits is a Chicago-based business brokerage and M&A advisory firm that works with owner-operators on transactions between $1 million and $250 million in business value.
Every consultation is free and confidential. Nothing goes to market without your approval.
The Chicago M&A Market: What Sellers Should Know
Chicago is one of the most active middle-market M&A regions in the country.
The metro area's density of manufacturing, distribution, and business services companies creates consistent buyer demand from private equity groups, family offices, and strategic acquirers based both locally and nationally.
A few data points worth knowing:
| Metric | Detail |
|---|---|
| Deal activity | Illinois ranks among the top 5 states for middle-market M&A volume annually |
| Typical buyer pool | Mix of PE-backed platforms, independent sponsors, and strategic acquirers |
| Common deal size | $2M–$50M enterprise value for owner-operated businesses |
| Time to close | Most transactions take 6–12 months from first conversation to closing |
| Seller age | The majority of sellers in the current market are Baby Boomers exiting without a succession plan |
The generational transfer of privately held businesses is real and ongoing.
There are more sellers entering the market than qualified successors to receive them, which affects valuation dynamics and buyer competition depending on the sector.
Who We Help
Earned Exits works with owner-operators of privately held companies in the Chicago metro who want to sell, retire, or step away from a business with no internal successor lined up.
That describes a lot of business owners right now, and most of them have never sold a company before.
We also work with buyers: individuals, family offices, and companies looking to acquire established businesses in the Chicagoland area.
If you're a seller, here's the typical profile of a client we work with:
- Privately held company with $1M–$250M in business value
- Owner-operated, often for 10–30 years
- No clear internal buyer or family successor
- Considering a sale within the next 1–5 years
- Has not yet worked with a broker or M&A advisor
Industries We Serve
Earned Exits works across a range of industries. This matters because valuation, buyer expectations, and deal structure vary significantly by sector. A healthcare company sells differently than a trucking operation.
A technology firm with recurring revenue is valued on different terms than a construction company with project-based revenue.
Industries we work with:
- Manufacturing
- Distribution
- Healthcare
- Technology
- Business Services
- Transportation
- Construction
- Related industries across the broader Illinois economy
The Earned Exits Process
There's no mystery to how a business sale works. Here's exactly how Earned Exits runs an engagement:
1. Free Confidential Consultation You talk to us. We learn about your business, your goals, and your timeline. You find out what the process looks like and what to expect. No cost, no commitment.
2. Business Valuation We analyze your financials, operations, and comparable market transactions to give you a realistic picture of what your business is worth today. This is the foundation everything else is built on.
3. Preparing the Business for Sale Most businesses need some preparation before going to market. That might mean cleaning up financials, reducing owner dependency, or improving documentation. We help you identify and address the issues buyers will find anyway.
4. Confidential Marketing Your business is presented to a curated pool of pre-qualified buyers without disclosing your identity or signaling to the market that you're selling. Competitors, employees, and customers don't find out until you decide they should.
5. NDA Before Any Information Is Shared No buyer receives financials or identifying information without first signing a non-disclosure agreement and being screened for financial capability and fit. Every time, no exceptions.
6. Offer Negotiation We help you evaluate offers on their full terms: price, structure, contingencies, earnouts, and transition requirements. The headline number isn't always the best number.
7. Due Diligence and Closing We stay active through due diligence and work alongside your attorney and accountant to keep the transaction moving and protect your interests through closing.
Why Confidentiality Matters More Than Most Sellers Expect
Here's what happens when word gets out that a business is for sale before the owner is ready: employees start updating their resumes, key customers get nervous and start exploring alternatives, and competitors use the information.
Earned Exits does not disclose a seller's identity or intent to anyone without a signed NDA in place. Financials, business details, and owner information are protected throughout the process.
Only pre-qualified, NDA-signed buyers ever receive specifics about your company.
This isn't a formality. It's how the process is designed from day one.
What Is Your Business Worth?
Valuation drives everything. Go to market overpriced and qualified buyers pass. Go to market underpriced and you leave money behind that you'll never recover.
What affects value in a Chicago business sale:
- Revenue consistency and growth trend over 3–5 years
- Owner dependency (how much of the business runs without you)
- Customer concentration (one client = 40% of revenue is a red flag for buyers)
- Documented systems and processes
- Transferable contracts and relationships
- EBITDA margin relative to industry benchmarks
Earned Exits offers a free business value analysis. Contact us to schedule yours.
Frequently Asked Questions
How long does it take to sell a business in Chicago?
Most transactions take between 6 and 12 months from initial consultation to closing. Preparation, deal complexity, and buyer financing all affect timeline.
Do I need a lawyer to sell my business?
Yes. Earned Exits works alongside your attorney and accountant. We manage the M&A process; your legal counsel handles the transaction documents.
What does a business broker charge?
Brokers typically work on a success fee structure, meaning you pay at closing, not upfront. Fee percentages vary by deal size. We discuss this in detail during your free consultation.
Will my employees find out I'm selling?
Not through us. Confidentiality is built into every step of the Earned Exits process. Most sellers inform employees only after a deal is signed.
What if I'm not ready to sell yet?
That's fine. Many clients come to us 1–3 years before they're ready to sell. Understanding your business's value and what buyers will look for gives you time to prepare and maximize your outcome.
Serving the Entire Chicagoland Area
Earned Exits works with business owners across the full Chicago metro region: Cook County, Lake County, DuPage County, Kane County, McHenry County, and Will County.
We also work with businesses across broader Northern Illinois and nationally when a transaction calls for it.
Talk to a Business Broker Today
Earned Exits offers a free, confidential consultation with no upfront cost.
The business you've built, the people who work there, and the outcome you walk away with all deserve a process handled by someone who takes this seriously.
Call us or fill out the contact form to get started.