Your questions, answered directly

Start with normalized earnings — either Seller's Discretionary Earnings (SDE) for smaller operations or EBITDA for larger ones — then apply a market multiple for your size and sector. The multiple is shaped by owner-dependence, customer concentration, recurring revenue, and equipment condition. Our valuation page walks through each factor in plain English.

Multiples vary by size, sector, and business quality — there is no single answer that applies to every business. A direct conversation with a buyer gives you a realistic range based on your actual numbers, not a generic estimate.

No, but it can help you set expectations and negotiate with confidence. A direct conversation with a credible buyer can give you a realistic range without the cost or commitment of a formal process.

A direct transaction with prepared financials can move from first conversation to a signed letter of intent in four to eight weeks, and from LOI to close in another sixty to ninety days. Broker auctions typically take longer due to the breadth of the process.

No. A broker is useful if running a broad auction and maximizing competitive tension is your primary goal. If you already know the kind of buyer you want, a direct approach is often simpler, more private, and faster.

A direct, NDA-backed process with a single buyer is the most effective approach. Disclosure to employees happens only after the deal is signed and you're ready to make the announcement together.

Often a share sale using the Lifetime Capital Gains Exemption, but the right structure depends on your corporate setup and personal situation. This is general information — confirm with your tax advisor before you commit to a structure.

Four main buyer types: strategic buyers (competitors who absorb the business), private equity (financial buyers who resell within a few years), individual searchers (entrepreneurs who raise capital to buy and run one business), and permanent-capital operators like Pygmalion (who buy to hold and operate indefinitely).

Private equity funds operate on a fixed lifecycle — typically seven to ten years — and must resell the business to return capital to investors. Permanent capital has no such clock: the business is owned and operated for the long term, with no forced exit.

An individual entrepreneur who raises investor capital to find, buy, and personally operate one business — a recognized model within entrepreneurship through acquisition (ETA). Often a great operator; investor return expectations may still create eventual resale pressure.

Ontario manufacturing and industrial businesses with EBITDA between $750K and $3M, revenue between $3M and $30M, and at least five years of operating history. We focus on defensible niches, capable teams, and low customer concentration.

They stay. Keeping the team intact is core to our model — not just a promise. The relationships, skills, and culture your employees represent are what make the business worth acquiring and operating for the long term.

Yes, if that's what you want. Some owners prefer a clean break; others stay as advisors or in an operational role through a defined transition period. We build the arrangement around what works for you and the business.

A broker runs an auction on your behalf, introduces your business to many potential buyers, and earns a commission on the transaction. We're the buyer — there's no middleman, no auction, and no commission. The conversation is direct and confidential from the first call.

ForgeShift Advisory offers operational advisory to manufacturing owners who want to improve systems, increase enterprise value, and plan succession on their own timeline. When you're ready, we're already a trusted partner.