Selling a business is a stressful, complicated process. Without expert assistance, many sellers struggle to sell their business for fair market value. Thankfully, business brokerage services make selling your business much easier. With a business broker’s assistance, you’ll get an accurate sense of your company’s market value, and you’ll be able to sell your business more quickly and more easily than if you go it alone.
As one of the largest and most successful business brokerage firms in North America, Murphy Business can help you capture full value when selling a business. Our experience and expertise will help you at every stage of the sales process: from valuing your business to marketing your offering to closing your transaction.
Our Business Brokerage Process
Murphy Business Brokers use time-tested strategies and resources to help their clients capture full value when selling a business. Below is a brief, step-by-step overview of our business brokerage process.
Non-Disclosure Agreement. At Murphy Business, we appreciate the sensitive nature of business sales and the data that is handled during the business brokerage process. Before we take any active steps to sell your business, we will commit to a Non-Disclosure Agreement to ensure confidentiality throughout the transaction process.
Determine Market Value. To prepare your business for sale, we will perform broker’s opinion of market value or recommend a valuation. A valuation specialist will collect historical and financial data about your business, after which, he or she will use that data to calculate the fair market value of your business. Often, business owners will overvalue or undervalue their business without a valuation, making this a crucial step in the sales process. If this figure is lower than expected, we can advise you on how to increase your business’s value.
Sign Engagement Agreement. Once we’ve completed your valuation, you can choose whether or not to proceed with selling your business. If you choose to proceed, your Murphy Business Broker will enter into an official Engagement Agreement for the sale of your business. As part of your Engagement Agreement, we will keep the status of your business confidential until a sale is finalized.
Market & List Your Business. To attract qualified buyers and ensure fair market value, we will develop a customized marketing plan for your business. We will create a detailed informational package to showcase the value of your business, helping you stand out from other listings. After that, we will market your business via targeted campaigns and through national and/or global business brokerage networks, helping you reach the largest possible pool of potential buyers.
Qualify Buyers & Negotiate Offers. A successful business transfer depends on a qualified buyer. Our business brokerage experts will assess buyers based on their financial resources, their level of interest, and whether or not they will be able to succeed with your business after the transfer. Once we’ve identified one or more qualified buyers, we will help you evaluate different offers and negotiate with buyers, helping you find the best offer for your property.
Close the Transaction. After you’ve reached an agreement with a qualified buyer, Murphy Business will work with you to close the transaction. We will also often work with the business buyer to help them acquire financing, either through traditional financing or a small business loan. This ensures a smooth close to your transaction, minimizes the need for seller financing, and can help ensure the financial stability of your business post-sale.
At Murphy Business, we understand the importance of maintaining confidentiality throughout the business brokerage process. Our brokers will not disclose confidential information without a signed Confidentiality Agreement and a Buyer Application. Instead, we will provide information on a need-to-know basis, according to the buyer’s level of interest. We will work toward a full disclosure with either an Offer to Purchase or a Letter of Intent to Purchase.
Selling a business? Call (888) 561-3243 today to learn more about our business brokerage services and connect with your local Murphy Business office.