Tag: business brokers

At Murphy Business, we understand the ins and outs of franchising, including the procedures involved in buying and selling franchise locations. After all, we’re a franchise brand ourselves! Our network includes over 250 business brokers with in-depth expertise in the process of transferring businesses. 

Whether you’re a franchisor looking to establish a resale program, a franchisee who wants to transfer your business to a buyer, or an entrepreneur hoping to purchase an existing franchise location, we can help.

How Our Business Brokers can Assist with Your Franchise-Related Needs

As specialists in the sale of businesses, you can count on our expert knowledge for all of your needs related to buying or selling a franchise location. From performing professional business valuations to matching businesses for sale with qualified buyers and conducting negotiations, we’re able to simplify an otherwise complicated process. Read below for details about how our brokers assist with buying and selling franchise locations.

Helping Franchisors Ensure Smooth Resale Transitions

As a franchisor, it’s smart to put a system into place that enables new entrepreneurs to enter your system and allows current franchisees to exist with ease. Through a formal resale program, you can encourage smooth transitions that propel your brand forward rather than causing confusion.

A structured resale program is also an asset in attracting franchisees. Many potential franchisees want to know that there is an organized process in place for them to sell their location after putting in the hard work of running their business. In addition, this type of program promotes proper management of franchises, leading to long-term value and growth.

Putting our brokers in charge of your franchise resale program frees you up to focus on expansion instead of getting caught up in selling existing locations. Plus, we make it possible for you to reduce your liability during the valuation process; thereby ensuring that resales occurring within your system leave new franchisees with a solid foundation for growth.

Helping Franchisees List and Sell Their Businesses

If you’re a franchisee that’s looking to sell your location, it’s important that you’re able to get the maximum profit from this transaction. However, this isn’t always easy to accomplish on your own. Our professional business brokers can help you achieve the highest possible selling price thanks to our extensive knowledge and experience.

First, we’ll conduct an expert valuation of your business, and then we’ll design a complete offering package for marketing your sale to potential buyers. We’ll work with you every step of the way to find a buyer with the qualifications to satisfy your franchisor and help you close the deal in a way that results in a smooth transfer of ownership.

Helping Entrepreneurs Purchase Existing Franchise Locations

While many entrepreneurs choose to open a new franchise location, there are numerous benefits to purchasing a resale franchise that’s already in operation. For example, resell locations generally offer a faster track to profitability with less risk than a new franchise. With an established cash flow, a built-in customer base, and infrastructure that’s already in place, you’ll be able to hit the ground running.

Our business brokers can assist with selecting a franchise to purchase that is both well-managed and offers reliable income. Not only do we have the tools and expertise needed to assess the franchise resale market in your area, but our in-depth understanding of how franchises work also enables us to match entrepreneurs with franchise brands and businesses that fit their strengths and preferences.

We’ll give you counsel throughout the buying process so that you can avoid common pitfalls and enter negotiations with confidence. We can even provide references to experts in the legal and financial fields and assist you with finding financing through lenders in your community.

Learn more about how our business brokers help franchisees and franchisors today. Contact Murphy Business at (888) 561-3243 to inquire about a free consultation. 

 

Selling or buying a business is a lot easier with the right broker. If you’re selling, business brokers can help you attract the most qualified buyers, maximize your chances of a completed sale, and recoup full value from your investment. If you’re buying, the right broker can help you find the ideal business for your needs and ensure that you’re paying fair value for your new company.

But this all depends on finding the right broker. And in the vast majority of cases, that means looking for local business brokers — brokers who are based in the same area as the business that’s being bought or sold.

With few exceptions, business sales are inherently local transactions. As illustrated below, it pays to have the experience and expertise of a local broker.

Why Business Brokers Need Local Experience & Expertise

Familiarity with Local Markets

Whether you’re selling or buying a company, it helps to know the local market for business sales. This way, you’ll have a strong sense of going rates for different types of local businesses. You’ll know how long it typically takes to sell a business in your area. And you’ll know where to look for off-market sellers and buyers within the community.

No one has a strong understanding of these factors than qualified local business brokers. An experienced local broker will leverage this expertise to help sellers value and market their businesses accordingly, and to help buyers find the best local business opportunities.

Understanding Regional Appeal

Today, many business buyers aren’t simply looking for a new business to buy. They’re looking for a new community and lifestyle. But as a local business owner, you might not realize what makes your area so appealing to out-of-town and out-of-state buyers.

Local business brokers, on the other hand, know exactly what makes their area appealing to buyers. This includes unique and favorable aspects of the local business climate. And it includes things that make your area a great place to live — particularly for small business owners. This makes it easier for brokers to target the right kinds of buyers and to include regional selling points in marketing materials.

Knowledge of Local Regulations

When you’re selling or buying a business, attention to detail makes all the difference. An ‘i’ left un-dotted or a ‘t’ left un-crossed can lead to major headaches for both parties.

A qualified business broker will understand the importance of these details and will use a systematic process to ensure that nothing gets overlooked. But if a broker isn’t familiar with relevant state, county, or municipal regulations, their process might be insufficient.

Local business brokers work exclusively (or almost exclusively) within a defined area, so they can help you navigate any state, county, or municipal fine print governing the sale or purchase of a business.

Referrals to Area Specialists

Hiring a business broker is a smart move whether you’re selling or buying a business. But a broker isn’t the only specialist you’ll want to hire. At a minimum, you’ll also need a financial advisor and a lawyer or paralegal. And there’s a good chance you’ll need additional specialists, like a business appraiser or valuator.

Hiring the right broker can make finding these specialists much easier. The best local business brokers boast strong referral networks for exactly this reason. When you need a local expert, they’ll know exactly where to point you.

Assistance with Local Financing

Occasionally, a business sale is nothing more than a simple cash transaction. But more often than not, business buyers require third-party financing. And that financing usually needs to come from a local lender.

Experienced business brokers can help buyers acquire financing by referring them to local lenders. In some cases, this occurs through traditional financing. In others, it involves an SBA loan.

Assistance with local financing clearly benefits business buyers. But it also makes life easier for business sellers. By helping buyers acquire financing, local business brokers increase the likelihood of selling your business and can speed up the timeline of your sale.

Connect with qualified local business brokers in your area by calling Murphy Business today at (888) 561-3243!