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.

Book a Deal Day — $3,500 → Download Free Toolkit
✓ 48-hour turnaround
✓ Written findings report
✓ Go / No-Go recommendation
✓ Buyer-side only — no broker conflicts
✓ 13-year licensed IL & CO broker
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
📞 312.521.0421
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 — serving buyers nationwide with deep roots in Chicago, Illinois and Denver, Colorado.

Full background & credentials →
Colton Mortag
13 Years
Licensed Broker
IL & Colorado
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
What Goes Wrong

Six ways buyers lose money before the LOI is signed.

Most acquisition mistakes happen before the offer. These are the ones that cost buyers the most.

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

$3,500 · 48-hour turnaround · Written report + 90-min 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
Book a Deal Day →
If the Recommendation is Go

Deal Through

$10,000 or 2% of purchase price — whichever is greater

  • ✓ 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 →

Your $3,500 Deal Day fee is credited toward Deal Through.

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.

Three 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 · 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. At asking price, debt service consumed 94% of cash flow.

Outcome

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

Hospitality · Craft Distillery

$950K Asking — No-Go

Situation

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

What Analysis Found

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

Outcome

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

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 commercial 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.

📊

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.

Book a Deal Day — $3,500 →

Questions? Call 312.521.0421