Category: Business

Steps to Selling

Business Business Information For Sellers Sell Sell a Business Selling Selling a business Small Business

Posted by Jennifer Smith on

Have you ever wondered HOW people sell their business when they’re done running it? You may know intuitively that it’s not like selling a car or a piece of real estate, but most people don’t know where to begin when they’re ready to sell their business. At Murphy Business of Cape, we gui ...
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One Million Dollars!

Business Business Information For Sellers General Business Sell Sell a Business Selling Selling a business Valuation Valuing

Posted by Jennifer Smith on

If we had a dime for every time a business owner who told us they wanted to get a million dollars for their business (or even five or ten million)…well, we’d have a LOT of dimes! While we would love to sell every small, main street business out there for this nice, round figure, often times t ...
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How 2020 is Impacting Business Valuations

Business Business Information Buy a Business Buying a business For Buyers For Sellers General Business Sell Sell a Business Selling Selling a business Valuation Valuing

Posted by Jennifer Smith on

Let’s talk more about 2020. Wait…stay with me here…I know we’re all sick of talking about the year that shut down the globe, but it’s one of the most often asked questions we receive these days: “How are you handling 2020 when valuing businesses?” So, let’s talk about it! Firs ...
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Throwing Good Money After Bad

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business Small Business

Posted by Jennifer Smith on

“Know when to hold ‘em, know when to fold ‘em, know when to walk away, and know when to run…” Kenny Rogers may have been talking about gambling, but the lyrics work for business owners too. Over half of businesses in the US have been impacted by COVID this year to some degree and as we ...
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Marketing Blindly and Nationally

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business

Posted by Jennifer Smith on

If you’re a savvy business owner, you know that maintaining strict confidentiality is critical when selling your business. Only a handful of people should know you’re thinking of selling: your spouse, financial planner, accountant, and attorney. Often, this element alone will push a seller towar ...
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The US Economy and Business Sales

Business Business Information General Business

Posted by Jennifer Smith on

Three quarters down and one quarter to go for 2020…we can do this!  If you’re exhausted with running your business, think COVID is a dirty word, and you’re disenfranchised with all things related to our economy and this upcoming circus of a presidential election:  You’re not alone. There i ...
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Lending Posture

Business Business Information For Sellers General Business Sell Sell a Business Selling Selling a business Small Business

Posted by Jennifer Smith on

One of the top questions we’re asked in this unprecedented COVID environment is “are you still selling businesses?” The answer is a resounding YES! The follow up question usually has something to do with how banks are supporting those transactions, so we thought we’d examine what we’re see ...
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Coronavirus and Business Brokerage

Business Business For Sale Business Information Buy a Business Buying a business For Buyers For Sellers General Business Sell Sell a Business Selling Selling a business Small Business

Posted by Jennifer Smith on

[embed]https://youtu.be/VQFHdUgdgTc[/embed] Coronavirus. Yep, we’re jumping on the bandwagon. Why on earth are we, business brokers, talking about Coronavirus?! It has nothing to do with buying or selling business, right? Hang with us for a minute… On March 3rd, the Federal Reserve cut int ...
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Retaining Key Employees

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Posted by Jennifer Smith on

Think about the key employees in your business. The ones who understand how everything works: employee roles, client preferences, supply chain, cash flow, compliance, etc. When they take a well-deserved vacation, you FEEL it and so does everyone else. They might be in sales, support, administration, ...
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2020 Forecast

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Posted by Jennifer Smith on

2019 is in the books. In general, people are feeling pretty good right now. The S&P 500 was up 28.9% and the Nasdaq was up 35.2%. Unemployment is crazy low at 3.5%, optimism is high, and although there has been lots of turmoil nationally and globally, it has mostly impacted a few specific sector ...
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The Importance of Knowing Your Business’s Value

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business Valuation Valuing

Posted by Jennifer Smith on

How much is your business worth? How much is it actually worth to a buyer if you were to sell it right now? Even if you’re not ready to sell at this moment, knowing this number is very important for a few reasons: Planning: We know that most business owners work with financial planners and ac ...
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Competition

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Posted by Jennifer Smith Hendrickson on

Non-competes. You’ve probably been exposed to them at some point. Perhaps you have employees sign them or maybe you have signed one yourself at some point. Non-competes are also a very important component of a business transfer. Imagine this: You bought a high-end restaurant. Since you struck a ...
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8 Ways to Make Buying a Business Less Scary

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Posted by Jennifer Smith Hendrickson on

In addition to eating a ridiculous amount of candy corn, with Halloween around the corner, we’ve been thinking about all things scary. Here are some things that can make an entrepreneurial leap a little more comfortable. If you’re a business owner looking to sell, take note of these things too a ...
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Business FSBO

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business

Posted by Jennifer Smith Hendrickson on

With all of the online options at our fingertips these days, it is easier than ever to sell things. You can buy everything from a couch, to a car, to a house just by listing them online. In these days of the FSBO (For Sale By Owner) posts, wouldn’t it just be easier to try to sell your business th ...
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Should I Tell My Employees I’m Selling?

Business Business For Sale For Sellers Sell Sell a Business Selling Selling a business

Posted by Jennifer Smith Hendrickson on

The short answer: no. We have sellers all the time who ask us this and our answer is always the same: it’s a bad idea. Even if your team is small in number and a very tight knit group, we still recommend that you don’t take them along with you on the ride of selling a business. There are a few l ...
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Part Angel, Part Pit Bull

Business Business Information For Buyers For Sellers General Business

Posted by Jennifer Smith Hendrickson on

Obviously we think that having a business broker when buying or selling a business is important; that’s why we do what we do. But why do our clients love us? Our broker, Jennifer, and our team are great at getting results. Just read this testimonial from a client whose deal we closed last month: ...
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How We Value Businesses

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business Valuation Valuing

Posted by Jennifer Smith Hendrickson on

You’ve probably received a few newsletters from us now that mention getting your business valued and why you should do that. Perhaps you’re wondering how we actually determine the value of your business. Below are the steps in our process. When we compare our valuations to actual sales prices, w ...
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Never Stop Learning

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Posted by Jennifer Hendrickson on

I recently attended the national Murphy Business conference in Palm Coast, Florida.  The beach was nice (although it rained the whole time) and the opportunity to network with other business brokers across the country is a big draw, but the biggest benefit is staying up-to-date with all the lat ...
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Unsellable Businesses

Business Business For Sale Business Information For Sellers Sell Sell a Business Selling Selling a business Small Business

Posted by Jennifer Smith on

After nearly two decades of real estate/fixer-upper/curb appeal/garage sale picker reality television, it’s easy to think that there’s a buyer for everything.  That may be true – just not at every price and certainly not at any time.  We’ve had business owners approach us intending to have ...
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The Value of Organization and Time Management

Business General Business

Posted by Murphy Business & Financial Corporation LLC on

How often do you find yourself looking for that important - yet somehow misplaced - piece of paper? Do you promise yourself that you're going to become better organized, but find the days, weeks and months slipping by with too much work to do and not enough time to start that new filing system o ...
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