Before you decide to sell your business, you owe it to yourself to call The Business Sale Specialists.
Our highly professional staff is your guarantee that Murphy Business Brokers will get you the best possible deal when selling your business
1) Why do I need a business broker or advisor?
The selling of a business is a very complex process. It involves many aspects that most successful business people are not exposed to in the day-to-day operation of a company. Business owners, in general, do not have the time or knowledge to recognize and understand the complexities of selling their own business. Most businesses do not have the personnel capable of handling the sale of a business. Selling a business involves much more than just placing an ad in a newspaper. You should rely on experts trained in the sale of businesses. Someone familiar with the nuances of selling a business will prove an invaluable asset.
During the process, the Seller’s job is to do what he does best, which is to run the business as if he were going to keep it. The Broker’s job is to confidentially market the business, find and screen the Buyers, educate them, negotiate the terms of the sale and provide a buffer for the emotional highs and lows that we all experience. The Buyer benefits because the Broker has already pre-qualified a business before he lists it. He has psychologically prepared the Seller for the sale. He has also done a lot of the legwork to assemble the financial information and background of the business. This helps to reduce some of the uncertainty for the Buyer and make this search more efficient.
2) Why should I use Murphy Business Brokers?
Confidentiality, as well as establishing the right selling price, is crucial to the success of the deal. As a business advisor, Murphy Business Brokers has the ability to maintain your confidentiality, properly research highly qualified buyers, utilize a worldwide network to advertise your business and establish the right selling price. Transactions handled by Murphy Business Brokers are held parties. We require that a prospective Buyer review and sign a non-disclosure statement outlining his responsibility in having access to a Seller’s confidential information. This occurs before any detailed information concerning a specific opportunity is released. We are committed to protecting the confidentiality of the business sale. We understand that public knowledge of a potential sale can affect the attitudes and actions of customers, employees, competitors, lenders, suppliers, or investors, and thus the value of the company. We also want to safeguard the employment status of a potential Buyer while he considers a very important change for his future.
Let Murphy Business Brokers do the work for you. We’ll maximize the selling price of your business. Our goal is always to obtain the best deal for each client.
Murphy Business Brokers has been a mainstay in the business brokerage industry for over 20 years. Murphy Business Brokers specializes only in selling businesses. We focus on your specific industry to find the right buyer. This means faster results for you.
Our staff is one of the most sophisticated and experienced in the industry. Many have owned businesses and can relate to your specific needs.
Our service, dedication, and drive is your guarantee that if you are prepared to sell your business, we are ready to sell it for you.
3) How is an offer structured?
Most businesses sell for 50% to 75% down. The remainder is financed by the Seller, by a bank or through family resources. Sellers generally prefer to receive all cash at closing and some Buyers are able and willing to accommodate them. However, Buyers are usually trying to get the most bang for their buck and will want to leverage their down payment into the largest business they can buy. Although Buyers may want to make a no-money or low-money-down offer, it is very rare that they will succeed. Usually, a business cannot earn enough to pay salary to the owner and service such a level of debt. In addition, the lender, whether it is the seller or a bank, wants the Buyer to show his commitment to the business by having vested financial interest in its success.
4) What kind of financing is available?
Seller financing is usually the cheapest and easiest to obtain. It also tells the Buyer that the seller has confidence in the business. There are no loan fees and the interest rate is usually lower than the bank rates, but the term of the loan is often shorter. Seller notes make up the majority of Buyer financing. Banks will loan money to businesses that show a strong earnings history on the tax returns. They require a lot of documentation and the payment of upfront fees. In recent years, bank loans, which are guaranteed by the Small Business Administration, have become very popular and more readily available. If all else fails, family or friends will sometimes offer to help out. They can either provide funds or sign a guarantee for a bank loan.
5) How long does it take to sell a business?
It usually takes longer to sell a business than a house or a commercial building. Because of the confidential nature of a business sale, a business broker cannot put a For Sale sign on the window. The average time to sell a business is usually between six to eighteen months. However, there are exceptions. Some businesses may sell within a month of being put on the market. Others may take several years to attract the right Buyer. A business broker seeks out and talks to Buyers every day. The next one may be just right for a particular business.
6) How do you advertise a business for sale?
We advertise on the Internet using ten different sites i.e.
- www.businessbrokervincemurphy.com (my personal website)
- New England Business Brokers Association and also the Florida Business Brokers Association
- Multiple Listing Service
- Businesses for sale
We also sometimes advertise in the local newspapers, which still generate daily phone calls. We place ads in journals and publications that target particular industries. We network with members of trade associations such as the International Business Brokers Association and the Florida Business Brokers Association. We also receive referrals from attorneys, accountants, and real estate professionals.