Here is a statistic most brokerage firms will not advertise.
Roughly eighty percent of listed businesses never close.
They go to market.
They sign listing agreements.
They endure months of distraction.
They expose financials to strangers.
Then they quietly expire.
Why?
It is rarely because there are no buyers.
It is because the business was not fundable at the asking price.
Here is what kills most deals:
- Declining revenue trends
- Customer concentration
- Inflated add-backs
- Owner dependence
- Unrealistic valuation expectations
When a deal reaches underwriting, the bank becomes the final gatekeeper.
If cash flow does not safely support the debt, financing disappears.
Without financing, there is no closing.
This is why preparation must precede marketing.
A listing broker markets.
A serious advisor underwrites first.
Before taking a company to market, we stress test it the way a lender would.
If you are considering selling within the next few years, the smartest step is not listing.
It is running a confidential Deal Feasibility Study first.
Most failed exits are not unlucky.
They are unprepared.