Northeast Ohio Business Brokers

Selling a Business with the Northeast Ohio Murphy Business Professionals

The Murphy Business professionals in the Murphy Business Sales – Northeast Ohio office are ready to assist you with the sale of your business.

Murphy Business Sales of Ohio provides maximum exposure for clients selling a business in any industry. We know selling a business is not a decision one comes to overnight but might become a real consideration when hoping to retire, pursue another venture or thinking of a long-term exit strategy. Our goal is to understand your motivation for selling to devise a plan to get you most exposure for your business and the best offer.

Our experienced professional brokers help business owners realize the true value of their business to properly establish a suitable marketing plan to help sell it. The professionals at Murphy Business know the Ohio market having operated from Hudson, Ohio for over 30 years. Murphy Business brokers boast affiliations with national and international business brokerage associations and merger/acquisition networks. These affiliations will help you reach a larger pool of qualified buyers, increasing your chances of finding the perfect fit. This is an advantage that simply isn’t available with many local business sales firms and real estate agencies.

Selling a Business with the Northeast Ohio Murphy Business Professionals

How to Sell a Business

All of our professionals have owned or managed a business in the past, which gives us first-hand experience to help pilot clients through the process of selling a business.

Our primary role as transactional advisors to help owners to confidentially sell their business with confidence. We have established a proven process for people looking to sell a business to provide more than just a successful transaction, but also a clear understanding of what to expect and milestones to track throughout until the deal is closed.

Confidential Consultation - We will discuss your needs, goals and desires surrounding the sale of your business. This enables us to find not just a buyer, but the right buyer for your business.
Value Analysis - The Value Analysis involves a review of your financial documents to learn about cash flow, debt, physical assets, inventory and real estate. It is critical to know the true market value of your business.
Engagement - We will discuss the results of our Value Analysis with you, as well as potential buyers and other expectations. A decision to move forward is made at this time.
Marketing - Your business will be aggressively marketed to qualified buyers through “blind ads.” A Confidential Information Memorandum will be used with only the most serious of qualified buyers, while we make contact on your behalf.
Managing Buyers - We undertake a buyer qualification process, securing a signed Confidentiality Agreement (NDA). If interest is peaked, we will meet with you and the buyer at your place of business.
Negotiating - Utilizing our decades of negotiating experience, we will do our best to get you the highest price possible and terms that meet your needs. Offers will be presented in writing and discussed with our clients.
Due Diligence - The process of verifying all the important information in all aspects of the business. The broker will help to facilitate this process for the buyer on your behalf with confidentiality in mind.
Closing - This is when you get paid for the sale of your business and the beginning of the next phase of your life! In the days leading to the closing, we’ll be hard at work providing guidance every step of the way as the details of the transition are worked out.

Proper Financial Documentation for a Smooth Transaction

After our first meeting, as we are just getting started, it will be advantageous for you to start gathering tax returns, financial statements and other information to determine the financial strengths of your business as well as to identify any potential weaknesses. If there are any financial concerns regarding your business, it is best to discuss them before listing the business for sale. Providing transparency will allow the sale process to move smoothly, reduce delays and at the end of the day procure a buyer confident in the business being purchased.

Well organized financial documents will assist the potential buyer in obtaining financing. Bill White Sr. is often quoted regarding business financing suggesting “We always need to understand who’s writing the check!” While some buyers may be able to bring a full cash offer to the table, most will choose not to do so, even if they could.

Most buyers would prefer to leverage their cash by obtaining business financing allowing them to purchase a larger acquisition. Some will assemble cash from family or other “Angel Investors” to acquire a business. Potential buyers will need to understand how the cash flow of your business will impact their ability to pay back financiers one they have taken possession of the business. This also helps them to understand their likely ROI or return on investment. Quality financial documentation can make all the difference.

When it comes to business financing “We always need to understand who’s writing the check”

Although every business is unique, and we certainly won’t need all this information for our first steps, consider gathering the following documentation:

Three to five years of federal income tax returns
Three to five years of year-end profit and loss (P&L) statements
Three to five years of year-end balance sheets
Franchise Agreement (for franchise businesses)
List of furniture, fixtures and equipment (FF&E)
Estimate of inventory value and/or work in process value if applicable
Any existing leases including leased space, and any leased equipment
Property records, taxes, and last appraised value if real estate is owned
List of furniture, fixtures and equipment (FF&E)
List of any business debts

Please don’t let this detailed list overwhelm you! We will guide you through the process every step of the way and will help you to identify which documents are important for your business.

When it comes to business financing “We always need to understand who’s writing the check”

Take the First Step Towards Your Business Success!

Contact your local Northeast Ohio office to sell a business with maximum marketing exposure and minimum selling time.

Murphy will be with you from the business valuation to preparing it for sale, then finding and qualifying prospective purchasers, and lastly managing the process to a successful closing.

The Murphy Business Sales - Ohio team, from their headquarters in Hudson Ohio, primarily serves the cities of Cleveland, Akron, Canton, Youngstown, and other communities within Northeast Ohio as well as, an office in Columbus Ohio.

If you are considering selling a business, but don’t know where to start or are exploring options, please contact the Murphy Business Sales of Ohio team at (330) 650-9000 or contact us here.

Sell a Business