Compare what the retainer buys against what your later analysis needs: verified financials, lease terms, staffing detail, and seller cooperation. Ask what is refundable and whether a success fee is owed on closing. Government fees and legal fees are separate items; confirm current official amounts at the time of each step. Judge the retainer against a single question: after paying it, will you be able to say whether a candidate business is real, operating and not marginal? A package delivering a listing summary and an introduction leaves that question open. A package delivering reviewed financials, the lease, payroll registers and seller cooperation closes most of it.
Price the search against the analysis it enables
A summary sheet may support initial screening without supporting a purchase decision. Identify missing records and who will pay to obtain them before comparing engagements. Budget for valuation, accounting, and legal review according to the services actually needed; no engagement guarantees visa approval or a business return.
Hypothetical example: an investor pays a substantial retainer for introductions to specialty food distributors and receives three summary sheets with no payroll detail. The money bought contact, not analysis, and the accountant’s review still has to be commissioned separately. Deciding in advance which records the fee must produce converts a vague search into a purchase of specific evidence, and makes it obvious when a broker has not delivered.