Nearly three years into growing Potion, founder Noah Bragg was interested in selling the SaaS business. He listed it on Acquire.com, an online marketplace for buying and selling startups.

“If I got a price I was happy with, I’d sell,” he told They Got Acquired. If he didn’t, he’d keep running the company.

In just two months, he went from listing to closing. He had 25 interested buyers sign an NDA, and, of those, six people jumped on a call with him. From those conversations, three offers emerged. Ultimately, he sold for the price he wanted: $300,000.

Casting such a wide net is one of the reasons online marketplaces have become a popular option for entrepreneurs looking to exit. They’re also typically faster and have lower fees than hiring an M&A advisor.

To help you maximize your chances of finding the right buyer on a marketplace, we asked marketplace owners and brokers for their best advice — from choosing the right platform to vetting buyers.

First, what’s a business marketplace?

Business marketplaces are online platforms that connect business owners who are interested in selling their companies with potential buyers.

Buyers on marketplaces range from solo founders and side hustlers to private equity firms and strategic acquirers. You might also find agencies or larger companies shopping listings.

Marketplaces are particularly appealing for founders running smaller businesses — say, less than $500,000 in revenue — when working with a broker or M&A advisor might not make sense.

In recent years, numerous niche marketplaces have emerged. Some cater to specific types of businesses, like content sites or SaaS companies, while others welcome a mix.

7 expert tips for selling your business on a marketplace

Want to list your business for sale on a marketplace? Here are some tips for doing it right.

1. Choose the right marketplace

Remember: Not all marketplaces are created equal. The key is to find the one that best fits your business and goals.

For example, Duuce is a marketplace built specifically for buying and selling newsletters.

“We specialize in newsletters and newsletter-related assets, from niche lists started in dorm rooms to full-blown media operations (also sometimes started in dorm rooms),” said Aurelie Banoun, operations manager and owner of Duuce.

Finding a marketplace that specializes in your business type means you’ll connect with buyers who understand your industry and the value of what you’ve built.

2. Prepare comprehensive documentation

Before listing, gather all your important business documents. Potential buyers will want to see clear financial records and operational details.

“The sellers who close deals the fastest come prepared,” said Andrew Gazdecki, CEO of Acquire.com. “They have clean financials ready before listing, with a clear P&L that makes it easy for buyers to understand the business.”

Successful sellers “know their numbers cold,” Banoun added. For newsletters, that includes revenue, open rates, click-through rates, list growth, demographics and more.

“The more clarity, the better,” she said.

Joe Burrill, founder and CEO of Just Website Brokerage, which helps sellers list on the marketplace Flippa, adds that detail is critical.

“Our best founders/sellers give us lots of details about the business,” he said. “Context is everything and allows us to craft unique and attractive IMs (descriptions).”

3. Price your business realistically

One of the biggest traps sellers fall into? Expecting to get more for their business than it’s worth.

“The biggest mistake sellers make is overvaluing their business,” said Greg Elfrink, director of marketing at Empire Flippers.

Gazdecki added: “A business is worth what a buyer will pay, not what a seller thinks it should be worth. If you want offers, the valuation has to align with market multiples. A 3x-5x profit multiple is standard for most deals.”

Research comparable sales on your chosen marketplace to understand current multiples for your type of business. And be prepared to justify your asking price with solid financial data.

4. Create a compelling listing

Your marketplace listing is your sales pitch. Make it comprehensive but concise, highlighting what makes your business unique.

Gazdecki recommends recording a simple five-minute introduction video that walks buyers through the business, the product and why it’s a great opportunity to buy.

“Buyers trust what they can see, and this helps answer questions before they even come up,” he said.

Banoun notes that, though revenue and subscriber count are certainly important, storytelling is often the “secret weapon.”

“A compelling narrative about why the newsletter exists, who it’s for and what its potential could be helps buyers connect emotionally with the asset,” she said.

5. Be flexible with deal structures

It’s good to know what you want when you go to sell your business, but push yourself to be open-minded, too; being too rigid about your terms can cost you valuable opportunities.

“Be flexible,” Elfrink said. “I’ve seen many sellers who lose their chance to become a multimillionaire because they are not open to good deal structures. On the flipside, I’ve helped many people get multiple million-dollar exits because they were flexible.”

Banoun agreed it’s common for sellers to become too stuck on a specific price.

“It’s great to know your value, but being rigid can turn off serious buyers,” she said. “The best deals come from being open to a conversation.”

6. Highlight growth potential

Buyers are investing in your business’s future — not just its past. That’s why it’s important to emphasize growth opportunities.

“The best listings show exactly where a buyer can scale,” Gazdecki said. “Maybe it’s pricing changes, expanding into a new market or launching a marketing strategy that was never tested. The more obvious the upside, the better.”

Here, timing plays an important role.

“The No. 1 thing you can do as a seller if you want to stand out is to sell the business while it is growing,” Elfrink said. “Everyone wants to sell at the top, but it’s better to sell on the way to the top than at the top.”

He continued: “Buyers buy growth. Let them have some of the fruit of your labor. You’ll sell the business for a higher multiple, far faster and the deal structure will be much more in your favor because the buyer will want to capture the upside coming from the momentum.”

7. Vet buyers carefully and respond quickly

Not all inquiries from buyers are created equal. Avoid wasting your time by learning how to identify serious buyers.

One strategy is to request proof of funds before sharing sensitive data.

“Serious buyers won’t hesitate to provide it,” Gazdecki said.

Burrill recommends scheduling a 30-minute phone call with interested buyers. Ask them why they’re interested in buying your business and what their plans are. This conversation will quickly weed out any parties that aren’t serious.

“Serious buyers will usually have a clear thesis,” Banoun said.

Once you identify a potential buyer, be responsive. Interested buyers will quickly move on to the next deal if you take too long to get back to them.

“Momentum matters a lot,” Banoun said. “When replies are delayed, interest can cool quickly, and potential buyers may lose enthusiasm or move on. Timely, thoughtful responses show professionalism and commitment, which helps maintain engagement and drive deals forward.”

Advantages of selling through a marketplace

If you’re considering selling through a marketplace, take note of these enticing advantages:

Access to a large buyer pool

The more eyes on your business, the better chance of getting the deal done.

“If you want the best possible deal for your business, then create a competitive environment for buyers,” Elfrink said. “The best way to do that is to get a lot of buyers looking at your business all at once and competing against each other for what you’ve built.”

A quicker process

From Gazdecki’s point of view, the biggest benefit of using a marketplace is speed.

You can list your business for sale as quickly as you’d like, and you don’t have to wait for a broker to do targeted outreach. There’s usually less negotiation and red tape, plus buyers and sellers can save time communicating directly, without going through a broker.

Guidance and support

Although marketplaces are often seen as DIY, some provide guidance and guardrails.

For example, Banoun explains that Duuce provides a clear framework on what sellers can expect throughout the process. This includes guidance on valuation, insights into what assets to prepare, how to communicate effectively with buyers and how to close. Duuce also provides a contract template, handles escrow at no cost, and more.

“It’s a bit like listing a home through a trusted real estate agent,” she said. “You get serious buyers, helpful structure and a peace of mind throughout the journey.”

Some marketplaces also offer a higher level of support when founders choose to use their white-glove services. Both Empire Flippers and Acquire.com offer such a tier of advisory services.

What to watch out for when using marketplaces

While marketplaces offer many advantages, there are potential pitfalls to avoid.

“Watch out for marketplaces that are ultra DIY,” Elfrink said. “There are many out there that will just let you do your own valuation or not really hold your hand or walk you through different deal structures. This can lead to you just wasting time and end up never selling the business or, potentially worse, getting locked into a deal that is bad for you.”

Examples of companies that have sold on a marketplace

They Got Acquired has written about numerous acquisitions facilitated through marketplaces, including:

  • The Contract Shop, an online business that sold legal templates founded by Christina Elliott, landed a buyer through a marketplace.After some back and forth, she received a valuation from their team that far exceeded her expectations. Only about a month later, after receiving three offers, she found the right buyer.Her tip for sellers? “Don’t automatically assume the marketplace knows what they’re doing when they list your business,” she said. “I had to add tons of features and benefits of my business that were unmentioned at first. You never know when a feature will be a must-have for your potential buyer.”
  • Extra Points, a sports newsletter launched by Matt Brown, had been approached by several companies about an acquisition. For Brown, none of them felt like the right fit, so he listed his newsletter on two marketplaces: Duuce and MicroAcquire.That’s how he connected with the ultimate buyer, D1.ticker. The cash and equity that totaled around $100,000 didn’t make him rich, he shared, but he achieved his goal of  continuing to write for Extra Points.
  • Userfeed was founded in 2018 by Landon Bennett and Kyle Conarro, but in 2020 the pair realized they were stretched too thin.They received significant interest from buyers when they listed the software on MicroAcquire. Through the marketplace, the deal closed quickly — their primary goal — for six figures, all cash.

Final thoughts on using a marketplace to sell a company

Selling your business through a marketplace can be an effective strategy, particularly for online businesses.

By choosing the right platform, creating a compelling listing and following our other expert tips, you’ll maximize your chances of a successful exit.

Remember Gazdecki’s advice: “Selling a business is a process, not an event. The founders who get acquired the fastest are the ones who are prepared, realistic and responsive. The more friction you remove for buyers, the more likely you are to close a deal.”

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