OPENFAIR VS AXIAL

Axial ends where Openfair begins.

Axial introduces you to M&A advisors and hands the sale to whichever one you hire. Openfair is the advisory firm you hire, running all 19 stages on terms published before you start.

Talk to an Openfair advisor See what it costs

STEP 1Axial introduces you to advisors from its network, at no cost to you.

STEP 2You interview them, hire one, and agree that firm's fee. The sale starts then.

Openfair

STEP 1You hire Openfair. Valuation, CIM and buyer outreach begin under terms you already read.

The difference between those routes runs through everything below.

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THE SHORT ANSWER

How Openfair and Axial differ

Axial is a private deal network for the lower middle market, operated by Axial Group, LLC in New York. Its main service for business owners is Advisor Finder, a free program in which an Axial exit consultant recommends around five M&A advisors from a network of more than 2,000 firms. The owner interviews them and hires one. Axial's terms of service state that it is not involved in the negotiation or consummation of any transaction, so the advisor hired runs the sale under a separate engagement priced by that firm. Advisor Finder is open to companies headquartered in the US or Canada with at least $5M in annual revenue, at least $500K in EBITDA or net profit, and a 6 to 24 month exit timeline.

Openfair is an M&A advisory firm hired directly by the seller. It handles all 19 stages of a business sale, from CPA valuation through closing, with in-house CPAs and M&A advisors, and publishes its terms in advance: plans from $249 per month, success fees from 4%, no retainer, no deal size minimum. Both serve the United States and Canada.

WHO YOU ARE HIRING

The introduction is free. The sale is not.

Axial's owner-facing service is paid for out of the advisor's standard fee, so it costs the seller nothing. What the seller eventually pays is set later, by the advisory firm they choose, in a contract negotiated one to one.

What the Axial route costs

Nothing for the introduction itself.
A retainer to the advisor, in most cases. Axial's own fee guide reports that 29% of advisors charge a fixed retainer of $5k to $10k, 26% charge $11k to $25k and 23% charge $26k to $50k. Roughly a quarter charge none.
Monthly retainers where used, most commonly $5k to $10k per month for the length of the engagement.
A success fee on top, with a minimum fee amount that Axial describes as standard in the middle market.
A number you cannot check in advance, because each engagement is priced individually and published nowhere.

What Openfair costs

Plans from $249 per month, listed on the pricing page.
Success fees start at 4%.
No retainer, no engagement fee, no minimum fee.
CPA valuation and CIM included in every plan rather than billed as a milestone.
The same published terms for a $400k business and a $40M one.

SCOPE

Nineteen stages, and who runs each one

Selling a business takes 19 distinct stages from valuation to closing. On the Axial route every one of them belongs to the advisory firm you hire. Axial provides the introduction and the software the advisor works in.

Stage definitions follow the 19-stage framework Openfair publishes; Axial column entries come from Axial's own pages and terms of service.
Stage	Axial	Openfair
Prepare
Business valuation	Free self serve calculator. The working valuation comes from the advisor	CPA-prepared valuation, included in every plan
Financial cleanup and bookkeeping	Not offered	In-house CPAs, bookkeeping available
CIM	Written by the advisor you hire, distributed through Axial's tools	Written by Openfair, included in every plan
Pricing strategy	Set by the advisor	Set with your Openfair team
Market
Listing creation	Axial is a private network, not a public listing site	Listing created and managed for you
Marketplace exposure	Deals shared privately with matched buy-side members by the advisor	Listed on the Openfair marketplace
Syndication	Not offered	Syndicated across major business-for-sale platforms
Proactive buyer outreach	Run by the advisor, using Axial's buy-side network	Run by Openfair, with phone outreach on higher plans
Confidentiality management	Handled by the advisor, with NDA tools on the platform	NDAs signed before any details are released
Negotiate
Buyer vetting and proof of funds	Buy-side members self-certify accredited investor status at application	Proof of funds qualification on every buyer
Data room and document control	Platform tools, operated by the advisor	Controlled data room access, managed by Openfair
Buyer meetings and Q&A	The advisor	Openfair
Offer solicitation	The advisor	Openfair
Letter of intent	The advisor. Axial's terms place it outside negotiations	Openfair
Deal structuring	The advisor	Openfair
Close
Due diligence management	The advisor	Openfair
Financing coordination	The advisor	Openfair
Purchase agreement	The advisor, with counsel	Openfair, with counsel
Closing and transition	The advisor	Openfair

Axial runs none of the 19 itself, by its own description. It runs the step before stage one, choosing who will. Openfair runs all 19.

Stage definitions follow the 19-stage framework Openfair publishes; Axial column entries come from Axial's own pages and terms of service.

BEFORE YOU HIRE ANYONE

Before you hire anyone, find out where you stand

The Seller Readiness Index scores your business across the areas buyers scrutinise first. Ten minutes, no cost, and the result is useful whichever route you take.

Take the assessment

SIDE BY SIDE

Openfair and Axial compared

Openfair and Axial compared
Feature	Axial	Openfair
What it is	Private deal network and advisor matching service	M&A advisory firm
Who represents you	The advisory firm you hire after the introduction	Openfair
Who sets your fee	That firm, in a contract negotiated one to one	Published on the pricing page before you sign up
Cost of the introduction	Free to the owner, paid from the advisor's fee	Not applicable
Retainer or engagement fee	Set by the advisor. Axial's fee guide reports fixed retainers most commonly between $5k and $50k	None
Ongoing cost	Monthly retainers where used, most commonly $5k to $10k per month	Plans from $249 per month
Success fee	Set by the advisor, with a minimum fee amount that Axial calls standard	From 4%
Deal size minimum	$5M in revenue and at least $500K in EBITDA or net profit to qualify for Advisor Finder	None. All sizes
Valuation	Free online calculator	CPA-prepared valuation included in every plan
CIM and marketing materials	Prepared by the advisor	Prepared by Openfair, included in every plan
Buyer outreach	Run by the advisor across Axial's buy-side network of 4,500+ acquirers	Run by Openfair across a network of 1M+ vetted buyers, plus syndication
Negotiation through closing	Not Axial. Its terms place it outside negotiations and transactions	Openfair, end to end
Time before the sale starts	Roughly 12 weeks on Axial's published advisor hiring schedule	Work begins on engagement
Geography	US and Canada	US and Canada, plus select international deals
Credentials	Platform operator. Advisor credentials vary by firm	In-house CPAs, IBBA member, BBB accredited

Axial figures from Axial's published pages and its own M&A fee guide reporting. Openfair figures from openfair.co/pricing. Verified September 2026.

AN HONEST READ

What Axial does well, and where sellers hit trouble

Genuinely strong

The advisor network is deep and real. More than 2,000 advisory firms, ranked on deal experience, buyer targeting, closing record and reputation, with 15 years of platform data behind the recommendations.
The buy-side base is the reason bankers pay attention to Axial. Over 4,500 financial investors and corporate acquirers target lower middle market deals there each year, including 250+ family offices and 500+ private equity firms.
Interviewing several advisors before you sign is good practice. Competitive selection is one of the few points in the process where a seller has real leverage on fees.
Confidentiality is handled seriously. Deals move privately between members rather than sitting on a public listing page.
For a $30M manufacturer that needs a sector specialist banker, this route is sound.

Where sellers hit trouble

The clock starts before the work does. Axial's own schedule runs 12 weeks from first consultation to a signed advisor.
The price arrives last. You commit to the route before you know the retainer, the success fee percentage or the minimum fee, and you negotiate them alone with the firm you have just chosen.
Retainers are cash out before any buyer has seen your business, and they are common. Roughly three quarters of advisors charge one.
The eligibility floor rules out most American businesses for sale. Advisor Finder requires at least $5M in revenue plus either $500K in EBITDA or $500K in net profit.
Accountability splits in two. Axial selects, the advisor executes, and Axial states plainly that it takes no part in the transaction itself.

Pick by size, price transparency and how fast you need to move

Axial is the better route when

Your business comfortably exceeds Axial's $5M revenue minimum and meets the $500K threshold in either EBITDA or net profit, placing it at the larger end of the market.
You want a sector specialist investment bank and are willing to pay a retainer to get one.
Your exit is 12 to 24 months out and the hiring process itself is worth the time.
You want to interview several firms and run a competitive selection.
You are raising capital rather than selling outright.

Openfair is the better route when

You want the cost of the whole sale known before you commit to it.
Your business falls below Axial's eligibility floor, as most businesses for sale do.
You want work to start now rather than after a hiring process.
You do not want to pay a retainer before a single buyer has seen your business.
You want one firm accountable from valuation to closing, with CPAs in house.
You are selling in Canada, or on a cross-border deal.

THE FIRST TWELVE WEEKS

Two routes from first contact to a live process

Axial publishes its advisor hiring schedule week by week. Laid against an Openfair engagement, it shows what each route is doing while the other is already in market.

Axial

Advisor Finder, as published

WEEK 1Meet an exit consultant. A call to understand your objectives, size and industry.

WEEK 2Review recommendations. Axial's research team returns roughly five advisor matches with supporting detail.

WEEK 3Shortlist and interview. You meet the firms, with guidance on how to prepare.

WEEKS 4 TO 12Follow up and hire. Further discussions, fee negotiation, engagement signed.

THENThe sale begins. Your new advisor starts on valuation and materials, at their fee.

Source: Axial's published Advisor Finder timeline.

Openfair

A standard engagement

DAY 1Engagement begins. Terms already published, no retainer, no negotiation over the fee.

WEEKS 1 TO 2CPA valuation and financial review. Prepared in house, included in your plan.

WEEKS 2 TO 4CIM and pricing strategy. Marketing materials and price positioned.

WEEKS 4 TO 6Listing, syndication and outreach. Live on the marketplace, syndicated out, buyers contacted directly.

THENQualified buyers under NDA. Proof of funds checked, data room controlled, negotiation run by Openfair.

Timings are typical and vary with the business and its financial records.

12 weeks

Axial's own published schedule to reach the point where an Openfair engagement starts. The difference is not effort, it is where each route places the work of choosing.

QUESTIONS

Openfair and Axial, answered

Does Axial sell my business?

No. Axial introduces you to M&A advisors and provides the platform those advisors use to reach buyers. Its terms of service state that Axial is not involved in any way with the negotiation or consummation of a transaction and does not give investment or legal advice. The advisory firm you hire sells your business.

What does Axial cost a business owner?

The advisor introduction itself is free. Axial is paid out of the standard fee of the advisor you hire, so there is no separate charge to you and no obligation to proceed after the initial consultation. The cost of the sale is whatever that advisory firm charges.

What will the advisor Axial introduces charge me?

It depends on the firm, and it is agreed privately. Axial's own fee research reports that most advisors charge a retainer, commonly a fixed fee between $5k and $50k or a monthly fee of $5k to $10k, with a success fee on top and a minimum fee amount that Axial describes as standard in the middle market. Around a quarter of firms charge no retainer at all.

Do I qualify for Axial's Advisor Finder?

Axial publishes the criteria: at least $5M in annual revenue, at least $500K in EBITDA or net profit, a 6 to 24 month exit timeline, and a company headquartered in the US or Canada. Businesses below those thresholds fall outside the program. Openfair has no revenue, profit or deal size minimum.

How is Openfair different from hiring an advisor through Axial?

Openfair is the advisory firm rather than the introduction to one. You hire Openfair directly, the terms are published before you commit, and the same team handles all 19 stages from CPA valuation through closing. On the Axial route you hire twice, once by choosing a firm and once by agreeing its fee.

What does Openfair cost?

Plans start at $249 per month and success fees start at 4%. There is no retainer and no engagement fee. A CPA business valuation and a CIM are included in every plan, and the terms are the same whatever the size of the business.

Can I use both?

Yes. Axial's calculator and its exit content are useful research wherever you hire, and some owners run an Openfair conversation alongside advisor interviews to compare published terms against quoted ones. The two cannot represent you at the same time.

Does Openfair work with Canadian businesses?

Yes. Openfair handles sales across the United States and Canada, along with select international deals. Axial's Advisor Finder also covers companies headquartered in the US and Canada.

Axial Advisor Finder page, terms of service, sell-side platform page and M&A fee reporting. Openfair pricing. Verified September 2026.

Axial Advisor Finder Openfair pricing

Axial is a trademark of Axial Group, LLC. Openfair is not affiliated with Axial. This page is an informational comparison, not legal, tax, or financial advice.

Know the cost of your sale before you commit to it

Talk to an Openfair advisor about your business, or start with a free valuation and decide from there. Terms are on the pricing page either way.

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In-house CPAs and M&A advisors. IBBA member. BBB accredited. United States and Canada.