Should You Sell Your Business on BizBuySell Yourself?
Thinking of listing your business for sale on BizBuySell without using a broker? You’ve probably crunched the numbers and asked yourself if the cost savings are worth it. Having worked closely with small business owners—especially in industries like laundromats, HVAC services, and other main-street operations—I’ve seen the pros and cons of going it alone versus hiring a broker. In this blog, I’ll walk you through how I’ve helped owners make that decision, and what I’ve learned from selling businesses both ways. We’ll also dive into laundromat valuation methods, small business sale multiples, and telltale signs that it’s time to get professional help.
My Experience in Selling Small Businesses
I’ve been around the block more than a few times. Over the years, I’ve brokered or guided the sale of dozens of small businesses—many of them laundromats, which have a unique mix of passive income potential and high operational nuance. I’ve also walked through the trenches with HVAC business owners, local repair companies, and family-owned services looking to exit cleanly.
Some of those deals were handled entirely by me as the broker. Others were initiated by owners who listed their operations on BizBuySell themselves to save a few bucks. The question comes up constantly: Can I sell my business myself on BizBuySell, or should I bring in a broker?
The Appeal of Going DIY on BizBuySell
Let me be honest: BizBuySell is a great platform. With a relatively low listing cost—just under $60/month for a basic package—it’s tempting for any small business owner to post their business and field inquiries directly. If you’ve got a small laundromat generating under $100,000 in net profit, the 10–12% broker commission can feel like a steep price to pay.
One owner I worked with recently had a coin laundromat in a mid-sized town outside of Chicago. He was pulling in around $80,000 a year in Seller’s Discretionary Earnings (SDE). He said to me, “Why would I spend $10,000 or more on a broker when I can just list it myself for $60?” At first glance, it made sense.
But here’s what happened:
Within the first month of listing, he got a ton of inquiries—almost 40, to be exact. But the trouble was, only three were serious buyers. Most were window-shoppers or tire-kickers. A few wanted seller financing he wasn’t comfortable with. And his biggest issue? He had no clear framework for a laundromat appraisal—he seriously underestimated how hard it is to value a laundromat properly.
Laundromat Valuation Is More Complicated Than It Looks
In the laundromat world, valuation multiples aren’t always straightforward. Typically, a laundromat is valued based on one of three methods: NOI-based income, asset-based worth, or market comparables. But unless you’ve worked with these models before, it’s easy to misprice your business—and that can either scare away buyers or cost you tens of thousands.
Even a small difference in how you calculate your NOI (Net Operating Income) can drastically shift your asking price. Here’s what I’ve learned from working in laundromat valuation over the past decade:
NOI/Market-Based Approach
For profitable laundromats, the NOI method is the gold standard. Buyers look at SDE or EBITDA (for higher-earning operations), then apply a multiple. Right now, Seller Discretionary Earnings (SDE) multiples typically range from 3.16x–4.23x. That means if your laundromat nets $90,000 in SDE per year, you’re looking at a potential value between $284,000 and $381,000.
But here’s the catch: you need to make solid add-backs for things like:
And if you forget to subtract aging equipment replacement costs, you’ll artificially inflate your number.
Asset-Based Approach
Let’s say your laundromat isn’t turning strong cash flow, but you’ve got beautiful newer machines and a long-term lease. That’s when the asset-based method can work. I’ve seen buyers look at:
But keep in mind—this valuation usually comes in lower than a cash-flow valuation. I worked with one seller who had recently invested $120,000 into new Electrolux machines, only to discover that buyers were only valuing those at 60% of installed cost due to depreciation curves.
Market Comparables
This is where experience and data access really help. I can spot trends like urban versus suburban coin laundry multiples, or how card-operated machines perform better in historic neighborhoods. Buyers tend to pay a premium for:
That kind of market knowledge is hard to replicate if you’ve only sold one business—your own.
When Selling on BizBuySell Works
Look, I’m not going to pretend that owners should never sell their own businesses. In certain situations, it works just fine. If you’re selling a smaller laundromat—think under $100,000 in asking price—you may not be thrilled about paying a $10k+ brokerage fee. In that case, having a clean set of books, recent P&Ls, utility bills, and a well-thought-out listing description can go a long way.
A seller I advised last year had a compact but profitable laundromat in a small rural town. She listed it on BizBuySell herself, priced it at 3.5x her SDE, and had multiple serious buyers within two weeks. She knew her lease terms (five years left with two five-year options), her equipment was recently upgraded, and her utility costs were documented and reasonable.
When You Really Need a Business Broker
Here’s where DIY selling starts to crumble:
You Don’t Know How to Value Your Business
Guessing a multiple and slapping on a price isn’t a real strategy. A laundromat listed at 5x EBITDA in a low-income area with 15-year-old machines? That’s not going to move. A broker brings a reality check and access to real comps in your segment.
You Don’t Have Time or Patience
Fielding emails, vetting buyers, managing nondisclosures—it adds up. One of my HVAC clients recently tried a DIY sale and got swamped. He was dealing with emergency service calls while trying to screen buyers. Ultimately, he hired me halfway through, and we closed it in 90 days.
You Need Confidentiality
Listing publicly exposes your business to competitors, employees, and customers. Brokers know how to conduct targeted outreach with confidentiality agreements from day one. That’s critical if your staff doesn’t know you’re planning an exit.
Common Pitfalls I See with Self-Listers
Overvaluing the Business
This is the #1 issue. Everyone thinks their business is worth more than it is. If you’re calculating using revenue multiples (which are typically weak for low-margin businesses like laundromats), you’re likely overvaluing by 20–30%. Stick with SDE and NOI-based methods.
Weak Financial Documentation
Buyers don’t want guesswork. They want:
Lack of Preparation for Due Diligence
You got a buyer. Now what? If you’re not ready with lease agreements, debt obligations, and equipment maintenance logs, buyers will walk. I’ve seen promising six-figure offers go cold when owners couldn’t deliver even basic due diligence documents.
Emerging Trends That Impact Sales
Today’s buyers are savvier and more risk-averse, especially post-COVID. They’re looking closely at:
And don’t forget: financing has gotten tighter. Banks want more conservative EBITDA projections and often require seller financing to bridge the gap.
The Real Question Isn’t “Can You Sell It?” But “Can You Sell It Well?”
The truth is, anyone can list a business. But not