Murphy Business & Financial Corporation LLC to Present Franchise Resale Program at 2016 International Franchise Association Convention

Franchising.com | February 2016

 

Rapidly Expanding Business Brokerage Firm Assists Franchisors and Their Exiting Franchisees with Structured Franchise Resale Program

 

CLEARWATER, Fla. – Murphy Business & Financial Corporation LLC, one of the largest business brokerage firms in the nation, today announced plans to showcase and discuss its franchise resale program at the 2016 International Franchise Association Convention, which is taking place at the Henry B. Gonzalez Convention Center in San Antonio from Feb. 20 – Feb. 23.

 

Created with the intention of supporting franchise development teams throughout the U.S. and Canada, the structured program enables exiting franchisees to resell their franchise with the support and guidance of Murphy Business’ experienced broker network.

 

"As a franchisor, I understand that a healthy franchise system is one that is constantly selling new franchise units and bringing in fresh energy and new faces." said Roger Murphy, president and CEO of Clearwater, Florida-based Murphy Business & Financial Corporation LLC. "Like any business, franchisees will eventually desire to exit their business due to retirement or some other life changing event. It’s important to consider the support you have for exiting franchisees as well.”

 

The Murphy Business & Financial Corporation LLC Franchise Resale Program takes the onus off of franchisors by allowing them to focus on selling new units, rather than reselling existing units. Through the program, each franchisor is assigned a seasoned professional to be the point person for all matters concerning franchise transfer processes. Franchisors are also relieved of the liability of going through the sales negotiation and business valuation process, as these transactions are, in some states, heavily regulated under real estate or business brokerage laws.

 

“There is more value in having a franchise resale program that transcends offering assistance for exiting franchisees,” said Murphy. “A structured franchise resale program also adds value to the recruiting process by showing candidates that the franchisor is not only interested in bringing them into the system, but also supporting them when they are ready to exit the system. For today’s franchise developments teams, this is an invaluable asset to offer.”

 

For more information about Murphy Business Financial Corporation LLC and its franchise resale program, please visit: www.MurphyFranchiseResale.com.

 

About Murphy Business & Financial Corporation

 

Clearwater, Florida-based Murphy Business & Financial Corporation LLC is a full-service business brokerage firm facilitating business sales, purchases, consulting, valuations, mergers and acquisitions. Closing deals at a higher ratio than the business brokerage industry average, several accolades have been bestowed upon the company including Top 50 Franchisee Satisfaction Award-Winner 9 consecutive years according to Franchise Business Review.

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6 Steps to Steel Yourself for Tough Times

Business News Daily | February 2016 | By Nicole Fallon Taylor, Business News Daily Assistant Editor

 

Plummeting sales. PR disasters. Piling debts. Lawsuits. Layoffs. These are just a few of the many potential tough situations an entrepreneur might face — and that's just on the business side. Illness, family deaths, relationship issues and other personal problems can weigh heavily on a business owner's mind and make it really difficult to carry on with day-to-day operations.

 

You may not have faced a significant hardship while running your business yet, or perhaps you've made it through one (or more) and wish you'd handled things differently. Either way, it pays to be prepared. Here are six steps you can take to soften the blow if — or, more likely, when — you find yourself facing tough times.

Build up your confidence

Difficult situations will undoubtedly shake your confidence as an entrepreneur, so it's important to have a strong reserve of it to begin with. Bill Redfern, founder and CEO of Global Franchise Opportunities, credits his ability to deal with tough circumstances to his strong belief in himself and his own abilities.

 

"As businesspeople, we face many challenges each year, and sometimes, day-to-day work can make things seem rather bleak," Redfern said. "I have found that having a high level of confidence during tough situations helps to find a creative solution to the issues or challenges at hand. Entrepreneurs sometimes do [their] best work when under this sort of pressure."

Create a strong support network

When you've fallen on hard times, it's easy to let yourself become weighed down with negative thoughts. Erik Wilson, founder and CEO of Pozify, urged fellow entrepreneurs not to let this happen. One way to pull yourself out of a negative mind-set is to connect with people who push you to be your best, most confident self.

"Surround yourself with people who want to be with you and who help you stay accountable, authentic, honest, happy and open-minded," Wilson said. "Seek people who push you to constantly keep growing and evolving."

Find a great attorney

Even the most diligent business owners might find themselves on the receiving end of a lawsuit, which can wreak havoc on their finances and their reputation. Trying to find a lawyer during this time can add to an already-stressful situation, so it's best to be prepared by building a relationship with a trusted legal adviser — before you actually need one.

 

Ryan Blair, CEO and co-founder of ViSalus and international best-selling author of "Nothing to Lose, Everything to Gain: How I Went From Gang Member to Multimillionaire Entrepreneur" (Portfolio, 2013), learned this lesson as he suffered through lawsuits with his business. He advised all entrepreneurs to find room in their budget to invest in the best lawyer they can afford.

 

"You can never, ever hire too good of a lawyer," Blair told Business News Daily. "If you need a litigator, you hire the best litigator. If you need a securities attorney, you hire the best securities attorney. You'll never look back at your life, saying you hired too powerful or too good an attorney. You'll only wish you'd hired that attorney sooner."

Create a "rainy day" fund

You might have an emergency savings account for your personal funds, but do you have one for your business? Financial hardships are fairly common among small businesses, especially when they're just starting out, so as soon as it's feasible for you, start setting some of your income aside to cover any unexpected expenses or a dip in sales.

 

"It is always a good idea to have enough financial capital to sustain yourself during … slow months or unexpected emergencies," said Roger Murphy, president and CEO of Murphy Business & Financial Corp. "You'd be surprised at how many tough times can pop up if you're not prepared."

Know yourself well

Ancient Greek philosophers spawned the now-famous adage, "Know thyself," and it still holds true today, especially in the world of business. Wilson noted that entrepreneurs need to know how to self-reflect and understand their strengths, weaknesses, motivations and behaviors. Introspection helped Wilson through recent personal losses, financial troubles and startup woes, he said, and he believes it will be key to helping him deal with any hardships ahead.  "The real answer to dealing with any hardship [has] to come from within,” Wilson said. “Understand yourself … and then explore within to find any ‘blind spots’ that [may be] affecting your reality and your outcomes. Once you start getting in touch with this more, you can be aware of how you personally need to handle hardships, and [be prepared] to deal with these in a more empowering way."

Learn to compartmentalize

In the midst of a personal or business crisis, many entrepreneurs let their emotions spill over from one side to the other. Blair said this "emotional attachment" to certain issues doesn't do you any favors — instead, you need to practice isolating each problem and dealing with it head-on, one at a time.

 

"Emotionally attached … people blow up their businesses when their marriages fail, or they quit working when things don't go their way," Blair said. "The only way to survive the constant battle tests is to compartmentalize your life, and adopt an 'at war' mind-set. [This] means that you don't waste time dwelling on the 'why' and 'how.' You have to fight. If you're unable to isolate issues, or you spend all your energy fighting with the wrong mind-set, then you might not have a business for very long."

Surviving hardship

If you're in the middle of a difficult financial or personal situation right now, it can be a struggle just to get out of bed in the morning, let alone keep your business running. Our sources shared their best advice for persevering and making it through. 

 

Keep pushing forward. "No matter how crazy you may seem to some or how many people tell you 'no,' or how little support you may have both emotionally and financially, you have to keep pushing forward. If you are truly passionate about what you are doing, then none of the negatives will be able to have any major effect on you." – Erik Wilson

 

Look for the silver lining. "Stay positive through the hard times. Every business owner will face countless challenges, and those challenges may very well be what changes you and your business for the better in the long run." – Roger Murphy     

 

Believe in yourself above all else. "You can rely on a great team, family or whoever else you look to as a support network, but at the end of the day, you have to be the responsible party and the decision maker. Tough decisions are never easy and rarely popular. Believing in yourself will help pull you through until you turn things around." – Bill Redfern

 

Draw strength from what weakens you. "When you experience pain, your tolerance goes up, and you only learn survival skills by surviving. In other words, suffering is the greatest teacher. So, get comfortable with your failures and crises. Adversity is not only inevitable, but necessary. Don't be afraid to hit bottom, because this is the strongest foundation to build an empire on." – Ryan Blair

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5 Questions with Indy business consultant Tom Feick

Indy Star | February 2016 | Amy Lynch, Star correspondent

 

Tom Feick grew up in a family of entrepreneurs with the hope of one day joining their ranks as business owner himself. Not only has he achieved that dream, he’s helping others to do so, too.

 

For Feick, opening Indiana’s first Murphy Business and Financial Corp. office in 2015 involved a career shift from the accounting, administration and operations management experience he’d accumulated over 35 years. Fortunately, Feick found his skills transferable to his new role as a franchisee.

 

“I worked in the medical device industry in the executive management level,” he said.

 

“When I was ready to invest in a business of my own, I was looking for an opportunity where I could leverage my professional background.”

 

One of the largest and most successful brokerage and consulting firms in North America, Murphy Business and Financial caught Feick’s eye. The local operation now helps support other entrepreneurs throughout the Indianapolis region with business sales, purchases, valuations, and mergers and acquisitions.

 

“The (Murphy’s) national team center is a great asset, because it provides access to both their national business listing system and their network of professionals who are well-­‐ versed in brokerage, M&A, business valuations and M&E appraisals,” Feick said. “As a franchisee, it’s valuable to have access to such a large network of brokers and valuations specialists available to you.”

 

What Feick enjoys most, though, is helping his clients succeed.

 

“I see my role as an advocate for both seasoned business owners and aspiring entrepreneurs,” he said. “I’m proud of the close connections I’ve made with the Indianapolis business community. I have clients I keep in touch with who update me on how their businesses are running since working with me, and it’s a wonderful thing to hear about.”

 

Here’s how Feick answered our five questions:

 

Question: What’s something people would be surprised to know about Indy’s entrepreneurial/startup community?

 

A: “The Indianapolis community is one of the most passionate around. I’ve met with countless entrepreneurial clients in various stages of their company’s lifecycle — startups to very mature and established businesses. One of the most common traits of these business owners I’ve noticed is their enthusiasm and commitment to their businesses and to Central Indiana.”

 

Q: What’s been the most surprising thing you’ve learned in your career?

 

A: “I’ve noticed over the years that there may be shortcuts to many things, but I’ve learned you will very seldom find shortcuts to success. Meeting with my clients and seeing the hard work they put in to make their dreams a reality has emphasized this even more for me.”

 

Q: Do you have a personal business philosophy you try to follow?

 

A: “My personal business philosophy is two-­‐fold. First, truly listen to all parties involved in a transaction and fully understand the expectations of each side. From there, I make sure all parties are treated professionally and that everyone walks away completely satisfied with the end results. In other words, the outcome should be a win-­‐win for everyone.”

 

Q: What does leadership mean to you?

 

A: “A leader to me is someone who, through example, has the highest standards of ethics, morals and integrity. Also, a leader should be able to inspire and lead others with confidence, decisiveness and optimism, and most importantly, have an ample dose of humility.”

 

Q: What’s the best piece of career advice you’ve ever received?

 

A: “The best advice comes from my dad, who says it’s important to choose a vocation you enjoy. If you don’t get up every morning looking forward to your day, you’re in the wrong business.”

 

More about Tom Feick

 

Job title: Principal/Managing Director, Murphy Business and Financial of Indianapolis. Education: IUPUI – Finance.

 

Prior employment: CFO of Esaote North America. Family: Wife, Carol; five children; one granddaughter.

 

Favorite pastimes: Running, walking, reading. And an occasional cigar. Favorite musical artists: “Any artist who sounds good.”

 

Favorite quote: “The future starts today, not tomorrow.” — John Paul II

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