The knowledge to exit well.

What Is Investment Banking — And Why It Matters for Business Owners

Investment banking isn't just for Wall Street. If you're building, growing, or exiting a business, understanding how bankers work can unlock real value for you.

Exit Planning

Why You Need a Selling Agent When Exiting Your Business

Selling without representation is like defending yourself in court. Here's why a professional intermediary consistently delivers better outcomes for founders.

How to Get Maximum Value for Your Business

The difference between a good exit and a great exit often comes down to preparation, positioning, and process. These are the levers that move price.

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All Insights

Understanding M&A: A Founder's Guide to Mergers & Acquisitions

A comprehensive overview of the M&A landscape — deal types, timelines, key players, and what to expect when you enter the process.

Go-to-Market

How to Connect Your Business with the Market

Your business doesn't sell in a vacuum. Learn how to position, distribute, and present your company to the right universe of buyers.

Liquidity

Seeking Liquidity: Options Beyond a Full Sale

A full exit isn't the only path. Explore recapitalizations, minority sales, dividend recaps, and other strategies for extracting value while retaining control.

Exit Planning

How to Prepare Your Business for Exit

The best exits are planned 12–24 months in advance. Learn the operational, financial, and legal steps to make your business sale-ready.

Due Diligence

Setting Up Your Data Room: A Practical Guide

A well-organized data room accelerates due diligence and builds buyer confidence. Here's exactly what to include and how to structure it.

Exit Planning

Making Your Business Sell-Ready

From cleaning up financials to reducing owner-dependency — the specific actions that increase your business's attractiveness and value to acquirers.

Legal

Proper Legal Representation in M&A Transactions

Don't get the deal done, get the deal done right. Understanding when and how to engage M&A counsel, and what to look for in legal representation.

Understanding Buyer Types: PE, Strategic, Search Funds, and More

Different buyers have different motivations, timelines, and deal structures. Knowing who you're dealing with changes how you negotiate.

Documentation

The Role of a Confidential Information Memorandum (CIM)

Your CIM is the first serious document a buyer reviews. Learn how to craft one that tells your story, presents the data, and drives offers.

What Is a Napkin Deal?

A napkin deal is any deal, anywhere, between anyone. From M&A to real estate to cross-border financing — if two parties can structure value, it's a napkin deal.

Go-to-Market

How to Submit an Off-Market Deal

Off-market deals are the highest-value opportunities in any market. Learn how to bring a deal to Napkin and what happens after you submit.

The Broker vs. Advisor Spectrum

Not all intermediaries are created equal. Understanding the difference between a business broker and an M&A advisor helps you choose the right representation.

Why Operators Make Better Brokers

The best deal advisors have been on the buy side. Here's why operating experience gives Napkin a structural advantage in representing sellers.

Deal Structures

Creative Deal Structures That Actually Work

Earnouts, seller financing, revenue shares, equity rollovers — creative structures that bridge valuation gaps and get deals done when traditional methods fail.

What Is EBITDA — And Why Every Business Owner Should Understand It

The single most important number in M&A. How EBITDA works, how it's calculated, and why buyers obsess over it.

Due Diligence

The Complete Due Diligence Checklist for M&A Transactions

Everything buyers investigate — and everything sellers should prepare. A 100-point checklist covering financial, legal, operational, and commercial diligence.

Legal

Letter of Intent (LOI) Explained — What It Means and What to Watch For

The LOI is the most consequential document you'll sign before closing. Here's what every seller needs to know.

Due Diligence

What Is a Quality of Earnings (QoE) Report — And Why Buyers Require One

The QoE is the financial X-ray that can make or break your deal. What it examines, who prepares it, and how to survive one.

Leveraged Buyouts (LBOs) Explained — How PE Firms Acquire Companies

How private equity uses debt to buy businesses — and what it means for sellers when a PE firm comes knocking.

Deal Structures

The Complete Guide to Earnouts in M&A

Earnouts can bridge valuation gaps or become a nightmare. Here's how to structure them right.

What Is a Search Fund — And Are They the Right Buyer?

Search funds are the fastest-growing buyer segment in the lower-middle market. How they work and what sellers should know.

Deal Structures

SBA Loans for Business Acquisitions — The Buyer's Secret Weapon

SBA 7(a) loans finance more business acquisitions than any other source. How they work and what sellers should understand.

Business Valuation Methods — DCF, Comps, and Multiples Explained

Three approaches to valuing a business. When each applies, how they work, and why the answer is usually 'it depends.'

Go-to-Market

The Management Presentation — How to Win Over Buyers Face-to-Face

After the CIM, the management presentation is your biggest moment. How to prepare, what to present, and how to handle tough questions.

Legal

Representations and Warranties in M&A — What You're Promising

Reps and warranties are the fine print that can cost you millions after closing. Here's what sellers need to know.

The Roll-Up Strategy — How PE Firms Build Empires

Roll-ups are reshaping entire industries. How they work, why PE loves them, and what it means if you're the target.

EBITDA Multiples by Industry: What Sellers Ask (Sept 2026)

Asking EBITDA multiples for 9 sectors, September 2026: the largest samples ask 2.81x to 3.81x at the median, with quartiles and sample sizes.

How Much Does a Small Business Cost? 54% Ask Under $500K

54% of priced business listings ask under $500K and 72% ask under $1M in September 2026, across 24,503 listings stating a price on Napkin Deals.

Businesses for Sale in Canada: 858 Listings, $610K Median

858 businesses for sale in Canada on Napkin Deals, September 2026: median asking price $610K across 757 priced listings, plus sectors, bands and multiples.

Businesses for Sale in the US: 24,412 Listings, $435K Median

24,412 US businesses for sale on Napkin Deals, September 2026. Median asking $435K, quartiles $190K–$1.17M, sectors, price bands and asking multiples.