A Q u a r t e r l y D i g i t a l P u b l i c a t i o n o f t h e I n t e r n a t i o n a l B u s i n e s s B r o k e r s A s s o c i a t i o n
T H E B E S T I N S I G H T S O N B U Y I N G A N D S E L L I N G S M A L L B U S I N E S S E S
By Erin Crawford,
2025 IBBA Chair
A Record-Breaking Spring and a
Promising Road Ahead
Plus Insights on:
+ Utilizing AI
+ Fighting Predatory Practices
+ Selling Foreign Businesses
+ Bridging the Gap and More!
Summer 2025
The insights and opinions expressed herein are those of the authors and do not represent professional counsel nor an endorsement by the IBBA.
SUMMER 2025
The best insights
on buying and selling
small businesses
6
10
14
22
26
LETTER FROM THE CHAIR
HONORING MIKE ERTEL
AI ISN’T JUST A TOOL–IT’S A TIME MACHINE
THE PREDATORY PRACTICES OF COMMERCIAL LANDLORDS,
AND HOW TO FIGHT THEM
WHY U.S. BROKERS ARE SELLING MORE FOREIGN BUSINESSES
– AND WHAT SELLERS SHOULD KNOW
BRIDGING THE GAP: HOW TO PREPARE MAIN STREET
SELLERS FOR A SUCCESSFUL EXIT
In this Issue
SUMMER 2025
Dear IBBA Members,
I am thrilled to share with you the exciting news
that our recent IBBA Spring Conference was not
only our best but also our largest event to date! This
year’s conference exceeded all expectations, and I’m
grateful to each of you who joined us for what was
an extraordinary gathering of our community.
From the incredible workshops to the sold-out
pre-conference classes, the event was filled with
valuable insights, dynamic conversations, and
the kind of energy that only our IBBA family can
create. One of the highlights, of course, was our
keynote speaker, Daymond John, entrepreneur,
founder of FUBU clothing and FUBU Foundation,
and of course, the one of the stars of Shark Tank.
During the fireside chat, his answers to our best
questions from our membership was nothing
short of inspiring, leaving all of us with actionable
strategies to enhance our business brokerage
practice and our impact in the industry.
We are proud to say that we raised over $65,000
benefiting the FUBU Foundation. The FUBU
Foundation strives to foster a space where
individuals are empowered, celebrated, and
equipped to succeed in all areas of life through
innovative collaborations, impactful initiatives, and
authentic representation.
ERIN CRAWFORD
CBI | 2025 IBBA Chair
A Record-Breaking Spring and a
Promising Road Ahead
From the incredible workshops to the sold-out pre-conference
classes, the event was filled with valuable insights, dynamic
conversations, and the kind of energy that only our IBBA
family can create.
As we continue to build momentum, I want
to take this opportunity to remind you that our
Mid-Year Review Webinar is just around the corner.
This is an important event where we’ll look back at
the progress we’ve made this year, review industry
trends, and provide updates on initiatives that will
shape the future of IBBA. I strongly encourage you
to participate and share your insights.
We are working towards some new member
benefits and additional course revamping in
addition to new courses as our tremendous
community continues to grow. I look forward to
seeing you in the upcoming webinar as we continue
to advance our mission and grow our professional
community.
Thank you for your ongoing support, and I look
forward to continuing our work together to elevate
the business brokerage profession.
Best regards,
ERIN CRAWFORD | CBI | 2025 IBBA Chair
LETTER FROM THE CHAIR
SUMMER 2025
Honoring Mike Ertel:
The Driving Force Behind the Broker
Simplification Act
J. Michael (“Mike”) Ertel, 77, of St. Pete, FL, passed
away on May 19, 2025. A respected industry leader,
Mike leaves behind his wife Pat, three daughters, five
grandchildren, and a legacy of integrity, dedication,
and advocacy. A Purdue-educated executive and
longtime Managing Director at Transworld M&A
Advisors, Mike spent almost 2 decades championing
federal reform for business brokers. His proudest
professional achievement came in 2023 with the
passage of the federal Broker Simplification Act—a
cause he led with unwavering commitment.
MIKE ERTEL: ADVOCATE,
STRATEGIST, AND CHAMPION
Mike Ertel was not just a strong voice in the
industry—he was the voice behind this reform. He
spent years building coalitions, educating lawmakers,
cra�ing language, and advancing the bill through
multiple legislative sessions. It was Mike’s persistence
and credibility that kept momentum alive,
culminating in a major win for the profession.
John Zayac, BIEF Chairperson shared, “Mike’s
contributions to the industry were extensive, and
he was the energy and grease behind Business
Intermediary Education Foundation (BIEF)…Mike did
90% of all the work on this project and never gave up...
yes, we worked a team but Mike worked tirelessly to
get this done for the industry even though he has a
security license…it was the right thing to do.”
A FEDERAL WIN—AND WORK STILL AHEAD
With the federal law now in place, the industry
has turned its focus to the next phase: working
with individual states to align their regulations
and create a consistent national standard. The
Business Intermediary Education Fund (BIEF) and
its partners continue to engage with state legislators
and regulators to advocate for adoption of state-level
exemptions that mirror the federal framework. This
coordinated effort will help eliminate remaining
regulatory inconsistencies and further legitimize
business brokerage as a critical part of the small
business economy.
A LASTING LEGACY
The Broker Simplification Act is more than a policy
change—it is a reflection of Mike Ertel’s vision and
determination. It stands as a tribute to his belief in the
profession and his desire to see brokers empowered
to serve small business owners without unnecessary
regulatory barriers.
The IBBA and the entire business brokerage
community honor Mike’s legacy with immense
gratitude. His impact will be felt for generations, and
the path he forged continues to guide the work ahead.
For the most recent updates and resources, please refer
to the following:
• Latest PowerPoint Slides
• Recorded Webinar
SUMMER 2025
The IBBA: Over 3,000+
Members Strong, and Climbing!
The Q2 Market Pulse Survey Opens July 1st!
Learn more and participate in our next survey to
gain access to exclusive participant benefits.
GET STARTED
Get more data and insights by participating in our next Market Pulse Survey. Learn more at ibba.org.
Q1 2025 Highlights
PATH TO OWNERSHIP
Started the Business
Purchased from 3 Party
rd
Inherited
Purchased from Family
Purchased from Employer
60%
23%
8%
5%
4%
‹$500K
$500K-$1M
$1M-$2M
$2M-$5M
$5M-$50M
MARKET SEGMENTS STUDIED
MAIN STREET
LOWER MIDDLE MARKET
‹$500K
$500K-$1M
$1M-$2M
$2M-$5M
$5M-$50M
Seller’s Market Sentiment Q1 2016-2025
SELLER’S MARKET CONFIDENCE
Q1 2016
Q1 2020
Q1 2024
Q1 2018
Q1 2022
Q1 2017
Q1 2021
Q1 2025
Q1 2019
Q1 2023
0%
23%
45%
68%
90%
81%
86%
86%
88%
93%
84%
86%
82%
86%
92%
81%
80%
87%
84%
85%
80%
86%
76%
83%
84%
$1M-$2M
$1M-$2M
$1M-$2M
$5M-$50M
$5M-$50M
$5M-$50M
$500K-$1M
$500K-$1M
$500K-$1M
$2M-$5M
$2M-$5M
$2M-$5M
‹$500K
‹$500K
‹$500K
16%
12%
12%
9%
6%
12%
11%
13%
13%
7%
15%
17%
11%
11%
10%
5%
9%
10%
5%
16%
2.8
2.5
2.5
2.8
2.8
4.4
4.5
3.5
4.3
5.1
4.5
SUMMER 2025
DAVE GODWIN,
CBI, CVB
AI Isn’t Just a Tool
It’s a Time Machine