1st & Main Partners Research
Advisory Approach
1st & Main Partners is an Orlando-based business brokerage firm serving Main Street and lower middle market business owners. Founded by Carrie Duvall, the firm operates with a client-centered philosophy that views business sales not as transactions, but as life transitions. Their approach emphasizes ethical communication, empathy, and honest guidance—positioning themselves as partners in their clients' life goals rather than mere deal facilitators.
The firm distinguishes itself through comprehensive service offerings that extend beyond traditional business brokerage. In addition to sell-side representation, 1st & Main provides complimentary business valuations, value-building consulting, exit and succession planning, and SBA lending support. This full-service approach reflects Duvall's background as a former commercial and SBA lender combined with her experience owning and operating service-based businesses.
A key differentiator is the firm's emphasis on preparation. 1st & Main strongly recommends that business owners begin the sales process at least one year prior to marketing, allowing time for financial cleanup, value driver optimization, and thorough recasting. This presale planning phase, typically spanning 12-24 months, is designed to maximize transaction value and facilitate smoother due diligence.
Sector Focus
1st & Main maintains broad industry coverage across the Main Street and lower middle market. The firm is listed in M&A Source directories across multiple categories including wholesale trade, manufacturing, construction, business services, industrial services, technical services, auto-related businesses, and healthcare. Current and recent listings evidence activity in healthcare services (senior home care agencies), distribution (fresh produce wholesaler), and transportation (auto hauling).
This breadth reflects the firm's positioning as a generalist business broker rather than a sector-specialist investment bank. Their understanding spans diverse business models, with particular strength in service-based businesses and companies with commercial real estate components—a natural extension of their real estate brokerage licensing in Florida and Georgia.
Within manufacturing, the firm appears equipped to handle both discrete manufacturing (fabrication, production) and process manufacturing (food production, wholesale distribution). Their listings in technical services suggest capability with IT services, MSPs, and related technology businesses. The healthcare services focus is evidenced by senior home care agency listings, reflecting the aging demographics and strong demand in Florida's healthcare market.
Deal Track Record
1st & Main does not publicly disclose closed transaction details in the manner of traditional investment banks. As a business broker focused on Main Street businesses, many transactions are confidential by nature and not announced via press release. However, third-party sources provide insight into the firm's activity level and performance.
Carrie Duvall is annually recognized as a multi-million-dollar producer by both the International Business Brokers Association (IBBA) and the Business Brokers of Florida (BBF), indicating consistent deal flow and transaction volume. In early 2025, Duvall reported closing three sizeable deals in Q1 that exceeded her best annual earnings to date, suggesting accelerating activity.
Current listings on BizBuySell and related platforms provide a window into active mandates. Recent and current listings include:
- Established senior home care agency (healthcare services)
- Profitable turnkey fresh produce wholesaler with 100% repeat customers (distribution)
- Auto hauling business with truck and carrier equipment (transportation)
These listings reflect deal sizes likely in the $500K to $3M range—typical of the Main Street market segment. The firm's focus on smaller, often founder-owned businesses distinguishes it from lower middle market investment banks that typically target $5M-$50M+ transaction values.
Process & Fee Structure
1st & Main follows a structured sell-side process designed to minimize seller stress and maximize transaction value:
Phase 1: Complimentary Valuation – The firm offers complimentary, confidential business valuations for owners considering a sale. This provides a market-appropriate listing price and initial assessment of value drivers.
Phase 2: Pre-Sale Planning (Recommended 12+ months) – A comprehensive preparation phase including financial analysis, accounting cleanup, value driver identification, and recasting. This phase is designed to uncover anomalies, improve value drivers, and set up for smooth due diligence.
Phase 3: Marketing & Buyer Introductions – Creation of Confidential Information Memorandum (CIM) and teaser documents. Listings are shared with a national network of potential buyers via business listing platforms and direct outreach. All inquiries require NDA execution before seller disclosure.
Phase 4: Offer, Due Diligence & Closing – Support through LOI negotiation, due diligence management, integration planning, closing details, and post-sale transition.
Fee Structure:
- Complimentary preliminary valuation for potential sellers
- Opinion of Value valuations (non-selling): Starting at $5,000
- Comprehensive Valuation (market trends, SWOT, legal proceedings): Starting at $10,000 (complimentary with listing engagement)
- Success fees: Structured as percentage of transaction value (industry-standard for business brokers)
- Value Building engagements: 12-24 month retainers for increasing cash flows and reducing risk pre-sale
The firm's real estate brokerage licensing (Florida BK3313128, Georgia 435577) allows them to handle owner-occupied commercial real estate as part of transactions—a capability many traditional business brokers lack.
Buyer Network
1st & Main maintains buyer reach through multiple channels:
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National Business Listing Platforms – BizBuySell, BizQuest, and related websites provide broad exposure to individual buyers, investors, and small private equity groups.
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Direct Buyer Database – The firm maintains a database of vetted buyers who have completed confidentiality agreements and financial qualification.
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Professional Networks – M&A Source and IBBA memberships provide access to affiliated brokers and their buyer clients.
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SBA Lender Relationships – Duvall's background as an SBA lender and ongoing support for buyer financing suggests established relationships with SBA-approved lenders.
The buyer base for Main Street businesses differs substantially from lower middle market private equity. Buyers are typically individual entrepreneurs, family offices, small search funds, and occasionally small private equity groups. 1st & Main's process emphasizes vetting buyers for financial capability and guiding them through SBA financing—a critical path for many Main Street acquisitions.
Competitive Positioning
1st & Main differentiates through several key factors:
1. Lender Expertise – Duvall's background as a commercial and SBA lender provides unique credibility in guiding both buyers (financing) and sellers (financial preparation). This expertise is uncommon among business brokers.
2. Comprehensive Preparation – The firm's emphasis on 12-24 month presale planning and value building goes beyond typical brokerage engagement. This positions them as a long-term strategic partner rather than transactional intermediary.
3. Full-Service Capability – In-house valuation, exit planning, and commercial real estate services create a one-stop shop for business owners. Most business brokers outsource valuations or lack real estate capability.
4. Industry Recognition – Annual multi-million-dollar producer recognition from IBBA and BBF, plus Women's Advisory Board leadership at IBBA, signals credibility and peer respect.
5. Complementary Valuation Model – Offering free preliminary valuations lowers barriers to engagement and demonstrates confidence—a contrast to brokers charging upfront fees.
Not a Fit If
Based on the firm's positioning and service model, 1st & Main Partners is not an ideal fit for:
- Businesses above $5M-$10M in enterprise value (the firm focuses on Main Street and lower middle market; larger businesses typically require investment banking capabilities)
- Sellers seeking institutional private equity buyers (the firm's buyer network is oriented toward individual buyers, family offices, and small PE)
- Sellers needing immediate exit (the firm's recommended 12+ month presale planning may not accommodate urgent timelines)
- Highly complex transactions requiring SEC registration, FINRA licensing, or public company expertise (1st & Main operates as a real estate-licensed business broker, not a registered broker-dealer)
- Businesses outside Florida/Georgia (while the firm can serve clients nationally, real estate licensing and physical presence suggest primary focus on Florida and Southeast markets)
Team
Carrie L. Duvall, EMBA, CM&AP, CBA – Founder, Broker Owner, CEO
Duvall brings multidimensional experience to her brokerage practice:
Professional Background:
- Former commercial and SBA lender at a mega-regional bank
- Regional Director responsible for 3,000 employees across Southeast U.S. and Puerto Rico for a high-growth retailer
- Economic development career, including founding an Advisory Board Council recognized by the International Economic Development Council
- Founder and operator of multiple service-based businesses
- Almost a decade as a business broker, consulting with hundreds of business owners
Education & Designations:
- Executive MBA, Crummer School of Business, Rollins College
- BS BA, Elon University
- Certified Mergers & Acquisitions Professional (CM&AP)
- Certified Business Analyst (CBA)
- Certified SBA and Commercial Lender
Professional Affiliations:
- International Business Brokers Association (IBBA) – Chairs Women's Advisory Board
- Business Brokers of Florida (BBF)
- M&A Source
- SCORE volunteer counselor
Awards:
- Annually recognized as multi-million-dollar producer by IBBA and BBF
- International Economic Development Council's Program of the Year
Licenses:
- Florida Real Estate Broker BK3313128
- Georgia Real Estate Broker 435577
The firm appears to be a solo practice with Duvall as the primary producer, supported by affiliated professionals (attorneys, CPAs, lenders) through partnership arrangements rather than employed staff.
Geographic Coverage
1st & Main Partners is based in Orlando, Florida with two reported office addresses (228 E Harding St and 1430 Haven Drive). The firm serves clients nationally but maintains primary focus on:
- Florida: Primary market with physical presence and state real estate licensing
- Georgia: Secondary market with state real estate licensing
- Southeast U.S.: Duvall's background as Regional Director suggests familiarity across Southeast region
The firm's Florida focus aligns with market dynamics—Florida consistently ranks among the most active states for business sales, driven by population growth, business migration, and strong demand from buyers seeking to relocate.
For clients outside Florida/Georgia, the firm can provide brokerage services but may lack the local market knowledge and physical presence that in-state brokers offer.
Summary Assessment
1st & Main Partners occupies the business broker segment of the M&A advisory landscape, bridging the gap between do-it-yourself exits and investment bank representation. The firm is well-positioned for Main Street business owners (revenue under $10M) seeking comprehensive exit support, particularly in Florida and the Southeast. The combination of lender expertise, complimentary valuations, and full-service capability creates a compelling value proposition for smaller businesses that would not qualify for traditional investment bank representation.
The firm is not a substitute for lower middle market investment banks for businesses above $5M-$10M in value. However, for the Main Street segment—businesses with $500K to $5M in enterprise value—1st & Main offers institutional-quality process with personalized service and local market expertise.