Buyer-Side Acquisition Advisory

Before you buy a business,
get a Deal Day.

Independent acquisition analysis for serious buyers — nationwide, including Chicago and Denver. We rebuild financials, evaluate SBA viability, identify every risk worth flagging, and tell you whether a business is worth pursuing before you submit an offer.

Find Out If This Deal Is Worth Buying → Download Free Toolkit
✓ 48-hour turnaround — written findings report
✓ Go / No-Go recommendation — direct, with reasoning
✓ Buyer-side only — no broker conflicts, ever
✓ 13-year licensed IL & CO broker
✓ Distillery founder · Hospitality operator · Boots-on-ground experience
Colton Mortag, Founder MorCapital Advisors
Colton Mortag
Founder & Principal Advisor
  • ▸ Licensed IL & CO Real Estate Broker
  • ▸ 13 years in real estate brokerage
  • ▸ Distillery founder & operator (exited 2024)
  • ▸ Hospitality venue builder & owner
  • ▸ Buyer-side only — never broker-side
$3,500 flat fee
48 hours turnaround
Nationwide coverage
Buyer-side only — no conflicts
📞 312.521.0421
Financial analysis documents
Why MorCapital Exists

Built by an operator, for buyers who need the truth.

I built a craft distillery from TTB compliance through production, distribution, and a retail tasting room — then exited in 2024. I co-founded a bar and brew pub from the ground up. I've brokered real estate across Illinois and Colorado for 13 years.

What I kept seeing: buyers getting burned because everyone at the table had a financial incentive to close. The broker gets paid when you sign. The seller gets paid when you sign. Nobody was getting paid to tell you to walk away from a bad deal.

That's the only job at MorCapital. Independent analysis from the buyer's side. No commission. No conflict. A written recommendation before you commit capital.

Full background & credentials →
Who This Is For

You found a business. Now determine if it's worth buying.

MorCapital works with one type of person: a buyer who has found a specific listing and needs independent analysis before making a financial commitment.

✓ Good Fit

  • ✓ Buyers evaluating a live listing
  • ✓ SBA-backed buyers
  • ✓ First-time acquisition buyers
  • ✓ Investors purchasing cash-flowing businesses
  • ✓ Buyers preparing to submit a LOI
  • ✓ Car wash, laundromat, HVAC, self-storage buyers
  • ✓ Restaurant, bar, distillery, franchise buyers

✗ Not a Fit

  • ✗ Casual researchers with no acquisition capital
  • ✗ Course shoppers seeking free advice
  • ✗ Buyers without a specific listing to evaluate
  • ✗ Buyers who want validation, not honest analysis
  • ✗ Sellers, brokers, or lenders
Financial documents and analysis

Most acquisition mistakes happen before the offer.

A Deal Day exists to catch them — in writing, in 48 hours, before you commit capital.

What Goes Wrong

Six ways buyers lose money before the LOI is signed.

These are the most common — and most expensive — errors in small business acquisitions.

01

Trusting Seller Projections

Pro formas show future potential, not current performance. The financial rebuild separates real EBITDA from seller narrative.

02

Ignoring Debt Service

$200K EBITDA looks strong until you model the SBA payment. Deal Day shows the actual post-acquisition cash position.

03

Accepting Bad Add-Backs

Sellers inflate profitability through add-backs. Some are legitimate. Many are not. Every add-back gets evaluated individually.

04

Paying on Emotion

A friendly seller and a clean facility is still a bad deal if the numbers don't work. Independent analysis breaks the pull.

05

Missing Lease Risk

A profitable business with a non-transferable lease or a landlord planning to sell is a business you can't operate.

06

Assuming SBA Approval

Not every deal qualifies. Assuming it does leads to collapsed transactions after weeks of diligence and attorney fees.

Engagements

Two ways to work with MorCapital.

Start with Deal Day. If the recommendation is Go, Deal Through guides you from LOI to close.

Primary Engagement

Deal Day

48-hour independent analysis of a specific business. Financial rebuild, EBITDA review, SBA viability, risk assessment, offer structure guidance, written findings report, and a 90-minute strategy call.

  • ✓ Financial rebuild from source documents
  • ✓ EBITDA & seller add-back analysis
  • ✓ SBA viability review
  • ✓ Risk assessment — lease, dependency, concentration
  • ✓ Offer structure & purchase price guidance
  • ✓ Written findings report in 48 hours
  • ✓ 90-minute recorded strategy call
  • ✓ Go / No-Go recommendation
Find Out If This Deal Is Worth Buying →

$3,500 flat fee · 48-hour turnaround

If the Recommendation is Go

Deal Through

Buyer-side advisory from LOI through closing. Due diligence coordination, SBA lender coordination, deal structure guidance, purchase agreement review, and closing support.

  • ✓ LOI guidance and review
  • ✓ Due diligence coordination
  • ✓ SBA lender coordination
  • ✓ Deal structure guidance
  • ✓ Purchase agreement review support
  • ✓ Closing support
  • ✓ Real estate representation if applicable
Learn About Deal Through →

2% of purchase price · $10,000 minimum · Deal Day fee credited

Business deal closing

The right deal, structured right, closed right.

From the first financial review through closing day — buyer-side, start to finish.

The Process

Six steps. 48 hours. A clear recommendation.

Submit the listing. Receive your analysis. Know whether to proceed.

STEP 01

Submit the Listing

Share the business listing, asking price, and any available documents including the CIM.

STEP 02

Submit Financials

3 years of tax returns and the most recent P&L. The 48-hour clock starts when financials are received.

STEP 03

Financial Rebuild

Financials rebuilt from source documents — not from seller projections or the broker's presentation.

STEP 04

Risk Analysis

Lease, owner dependency, customer concentration, SBA eligibility. Deal-killers flagged separately.

STEP 05

Written Report

Delivered within 48 hours. Specific, written, actionable findings on every dimension of the deal.

STEP 06

90-Min Strategy Call

Walk through every finding. Ask every question. Leave with a clear direction and the reasoning behind it.

Case Studies

What a Deal Day actually finds.

Representative scenarios showing what independent analysis surfaces — and what it saves.

ℹ️ Representative scenarios based on buyer-side advisory work. Client details not disclosed.
Car wash business
Car Wash · Will County, IL

$1.8M Asking — Add-Back Issues

Situation

Seller reporting $280K adjusted EBITDA. SBA financing assumed. Buyer ready to submit full-price offer.

What Analysis Found

Rebuild surfaced $60K in non-surviving add-backs. Actual EBITDA: $218K. Debt service at asking price consumed 94% of cash flow.

Outcome

Buyer offered $220K below asking with seller financing. Accepted. Deal closed at a workable multiple.

Craft distillery
Hospitality · Craft Distillery

$950K Asking — No-Go

Situation

First-time buyer with strong emotional investment. Three years of growth, solid broker projections.

What Analysis Found

71% of revenue tied to two personal seller relationships — no contracts. Month-to-month lease, landlord selling in 18 months. TTB compliance issue blocking SBA financing.

Outcome

No-Go. Buyer walked away. Deal Day cost $3,500. The alternative was a six-figure mistake.

HVAC service business
Service Business · HVAC

$1.2M Asking — Conditional Go

Situation

Experienced SBA buyer. Strong recurring revenue, solid personal financials. Broker presenting a clean deal.

What Analysis Found

Revenue and EBITDA confirmed. Risk: 42% of revenue tied to three accounts with 15+ year personal seller relationships — no formal agreements.

Outcome

Conditional Go. Buyer negotiated a 12-month earnout tied to account retention, reducing price risk by $180K.

What You Receive

Exactly what's in every Deal Day.

No vague summaries. Specific written findings on every dimension of the deal, delivered in 48 hours.

📊

Rebuilt Financial Model

Revenue, COGS, expenses, and owner compensation separated from source documents.

🔍

EBITDA & Add-Back Analysis

Every seller add-back evaluated — legitimate, questionable, or rejected.

🏦

SBA Viability Review

Does this business, deal structure, and buyer profile qualify for SBA 7(a)?

⚠️

Risk Assessment

Lease, owner dependency, concentration, regulatory — each rated by severity.

💰

Offer Structure Guidance

Recommended price, terms, seller financing, and earnout guidance.

📋

Written Findings Report

Every finding in writing. Delivered within 48 hours of receiving financials.

📞

90-Minute Strategy Call

Recorded. Walk through every finding and pressure test every assumption.

✅

Go / No-Go Recommendation

A direct answer with specific reasoning. Not a hedge.

Common Questions

What buyers ask before booking.

What is a Deal Day?

A 48-hour independent analysis of a specific business. Financial rebuild, EBITDA review, add-back analysis, SBA viability, risk assessment, offer guidance, written report, 90-minute call, and a go/no-go recommendation. $3,500 flat.

What financials do I need?

At minimum: 3 years of business tax returns and the most recent P&L. Balance sheets and lease documents improve the analysis but aren't required to begin.

Is the 48-hour turnaround guaranteed?

Yes, for standard engagements where complete financials are received. If documents are incomplete, the timeline is communicated immediately.

Does Deal Day work for any business type?

Yes — car washes, laundromats, HVAC, restaurants, bars, distilleries, self-storage, franchises. The framework applies across all types under approximately $3M in deal value.

Is MorCapital a business broker?

No. Buyer-side only. We don't list businesses, represent sellers, or collect transaction commissions. Our fee is flat regardless of whether any deal closes.

What if the Deal Day says not to buy?

That's the point. Knowing not to buy a bad deal is the most valuable outcome the engagement can produce.

What if the recommendation is Go?

Proceed independently, or continue into Deal Through — LOI through closing, with the $3,500 Deal Day fee credited.

Can I do a Deal Day before making an offer?

Yes — that's the recommended sequence. The analysis tells you whether the asking price is justified and what a reasonable offer looks like before you're committed.

You found a business.
Now find out if it's worth buying.

Independent analysis. 48-hour turnaround. A written recommendation you can act on.

Find Out If This Deal Is Worth Buying →

Questions? Call 312.521.0421