HMI Business Services Research
Advisory Approach
HMI Business Services is a lower middle market and Main Street business brokerage firm founded by Jun Li, a Senior Mergers & Acquisitions Broker with over a decade of experience. The firm operates on a clear thesis: successful business exits require connecting owners with the right investors and entrepreneurs while maintaining strict confidentiality throughout the process. Unlike traditional investment banks that target larger corporate transactions, HMI focuses on the underserved market of businesses valued from the low six figures to approximately $10 million in enterprise value.
The firm's approach is characterized by personalized, hands-on guidance. Jun Li specializes in seller representation, helping business owners navigate the complexities of selling their businesses step by step—from initial valuation through closing. This includes facilitating due diligence, coordinating training and transition support, assisting with financing arrangements, and managing closing details. The firm maintains the utmost confidentiality, recognizing that discretion is paramount when businesses are for sale.
A key differentiator is HMI's cross-border M&A expertise. Jun Li has extensive experience facilitating transactions between U.S. business owners and investors in East Asian and Southeast Asian markets, leveraging strong connections with business and investment communities in these regions. This international capability positions HMI uniquely for business owners seeking buyers beyond the domestic market.
Sector Focus
HMI Business Services maintains broad industry exposure across 19 specialty areas, reflecting the Main Street and lower middle market focus. Rather than concentrating on narrow verticals, the firm serves businesses across the economic spectrum of small to mid-sized enterprises.
Primary industry concentrations include food and beverage establishments, retail operations, manufacturing and industrial businesses, wholesale and distribution companies, and business services. The firm's confirmed transaction history includes a substantial supermarket sale ($6.7 million in 2024), demonstrating capability in food retail. Listings across BizBuySell and BizQuest indicate activity in manufacturing, distribution, professional services, and technical services sectors.
The firm's geographic footprint—spanning Kansas, Missouri, Illinois, and Massachusetts—suggests particular strength in Midwest markets with additional reach into New England. Industry expertise aligns with regional economic strengths: food and beverage retail, manufacturing and distribution, logistics, and local business services.
Deal Track Record
HMI Business Services has completed multiple transactions across various industries, though specific deal details are primarily available through business-for-sale platform listings rather than press releases or public announcements.
Confirmed Transaction:
- Well Established and Profitable Supermarket (Sold June 2024)
- Sold Price: $6,700,000
- Gross Revenue: $18,000,000
- Cash Flow (SDE): $2,200,000
- Industry: Grocery Stores & Supermarkets
- Year Established: 2003
- Employees: 45
- FF&E: $2,000,000
- Inventory: $1,500,000
This transaction demonstrates HMI's capability to handle sizable lower middle market deals with complex operational assets and significant inventory components. The supermarket sale—representing approximately 37% of revenue as cash flow—shows successful navigation of food retail industry dynamics.
The firm maintains active listings across multiple business-for-sale platforms, indicating ongoing deal flow. BizBuySell and BizQuest profiles show current and past listings across manufacturing, distribution, retail, and service sectors, though specific closed transaction details beyond the supermarket sale are not publicly disclosed.
Process & Fee Structure
As a business brokerage firm operating in the Main Street and lower middle market, HMI Business Services follows industry-standard practices for business sales. Typical engagement structures include:
- Initial Consultation: Assessment of business readiness, preliminary valuation guidance, and discussion of seller objectives
- Valuation Services: Broker Opinion of Value (BOV) to establish realistic pricing expectations
- Marketing Phase: Confidential business listing on platforms such as BizBuySell, BizQuest, and industry-specific channels
- Buyer Qualification: Screening potential buyers, facilitating NDAs, and managing inquiries
- Due Diligence Coordination: Organizing financial documentation, facilitating data room access, and managing buyer questions
- Closing Support: Coordinating with attorneys, accountants, and lenders; assisting with transition planning
Typical fee structures for business brokers in this market segment include:
- Success Fees: Generally 8-12% of transaction value for businesses under $1 million, scaling down to 5-10% for larger transactions (the $6.7M supermarket sale would likely have been in the 5-8% range)
- Retainers: May charge upfront retainers of $5,000-$25,000 to cover initial expenses, credited against success fees
- Valuation Fees: Separate fees for Broker Opinion of Value reports, typically $2,500-$7,500
HMI offers Financial Planning & Analysis (FP&A) services as an additional service line, suggesting capability to help sellers prepare their businesses for sale through financial optimization.
Buyer Network
HMI Business Services maintains buyer connections across several categories:
- Individual Buyers: High-net-worth individuals and entrepreneurs seeking acquisition opportunities
- Private Equity: Lower middle market PE firms focused on Main Street businesses
- Strategic Buyers: Operating companies seeking growth through acquisition
- International Buyers: Notably strong connections with East Asian and Southeast Asian investors seeking U.S. business acquisitions
The supermarket transaction's buyer was not publicly disclosed, but the $6.7 million price point suggests either a sophisticated individual buyer, a family office, or a lower middle market PE firm. HMI's cross-border expertise indicates active cultivation of international buyer relationships.
Competitive Positioning
HMI differentiates in the market through:
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Cross-Border Expertise: Few Main Street business brokers maintain active connections with East Asian and Southeast Asian investment communities. This international reach expands the buyer pool for domestic sellers.
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Lower Middle Market Focus: Many investment banks ignore deals under $10 million EV. HMI focuses specifically on this underserved segment, providing dedicated service to businesses that larger firms won't touch.
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Comprehensive Service Offering: Beyond pure M&A brokerage, HMI offers FP&A services and valuation capabilities, positioning the firm as a full-service advisor for business owners contemplating exits.
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Geographic Reach: Multi-state presence (Kansas, Missouri, Illinois, Massachusetts) provides broader market exposure than regionally-bound competitors.
Not a Fit If
HMI Business Services is typically not a fit for:
- Businesses under $500,000 in enterprise value (too small for typical brokerage engagement)
- Large corporate transactions or public company M&A (outside the firm's market focus)
- Sellers seeking limited buyer outreach (the firm's value is in broad market exposure)
- Businesses requiring complex restructuring prior to sale (the firm focuses on going-concern sales, not turnarounds)
Team
Jun Li – Senior Mergers & Acquisitions Broker
- Role: Founder and Principal Broker
- Experience: Seasoned business intermediary serving the business community for over a decade
- Education: University of Kansas alumnus
- Memberships: International Business Brokers Association (IBBA) member since November 2025; M&A Source member
- Specializations: Seller representation, cross-border M&A (East Asia, Southeast Asia), manufacturing, distribution, retail, food & beverage, business services
- Licenses: Business broker (not FINRA-registered; operates as business brokerage facilitator rather than securities broker-dealer)
- Contact: junli@huamei-international.com, (785) 979-6598
- LinkedIn: linkedin.com/in/jun-li-45928b124
Geographic Coverage
HMI Business Services maintains a multi-state footprint:
- Primary Location: Lawrence, Kansas (1005 Stoneridge Drive, Lawrence, KS 66049)
- Additional Presence: Chicago, Illinois (240 E Illinois St, Chicago, IL 60611)
- Additional Presence: Cambridge, Massachusetts (02139)
- Serving States: Kansas, Missouri, Illinois, Massachusetts, with capability for national transactions
- International Capability: Active buyer relationships in East Asian and Southeast Asian markets, particularly for cross-border transactions