Are you ready to sell your business? And Is your business ready to be sold?
The process of selling your business for maximum profit is a proven formula, not just another transaction. It takes a skilled and experienced Business Broker to guide you through the process of planning your exit strategy, getting necessary documentation in order, determining the fair market value of your business and confidentially marketing your business to qualified buyers. At Murphy Business Atlantic, we specialize in the sale of businesses. It’s what we do.
What would you do if you could sell your business for the right price?
Would you retire and live the good life? Pursue another business opportunity that is personally rewarding? Or take some time off and decide what your next chapter should be?
We understand that most business owners have considered their exit strategy, but many do not realize how to begin the process and are unsure who they can trust for their business transition. Some owners wonder if the business climate has improved for those wanting to sell, and what that might mean for the valuation of their company. If you are an owner, and have considered these issues, now may be the best time to find out if the market is right for you to take the next step towards your future.
Murphy Business is one of the largest and fastest growing business brokerage companies in North America and we have many buyers looking for opportunities to become a business owner. Corporate downsizing, early retirements and the low cost of capital are bringing more buyers to the market.
Let us help you take advantage of this opportunity and sell your business. To do this, we use a tried-and-tested process that includes the following steps:
1. Determine what the business is worth.
We start by establishing what the business is worth. We will accomplish this by determining earnings, applying rules of thumb for that industry and then looking at what comparable businesses have sold for as well as what is currently on the market. As a part of the Murphy family we have access to extensive data on businesses that are for sale, as well as those that have sold in the past several years – so you can be confident that our valuation will be accurate.
2. Prepare a detailed buyer package.
We will put together an attractive and informative confidential memorandum that we will use to market your business to potential buyers – only after they’ve signed a confidentiality agreement. The portfolio will include pertinent information about your business: Company history, manager profiles, financial statements, pictures and other relevant and important information will be included.
3. Develop a marketing plan to sell the business.
Except in special cases, all of our listings go out to over 30 different websites where your business is advertised. We also use our extensive network of professional contacts, including bankers, accountants, financial planners, and other professionals who deal with people making financial decisions on a daily basis. Because Murphy Business Atlantic is connected to the largest brokerage firm in North America, we also have a large pool of buyers with which we work on a regular basis. Depending on the type of business, we may also use a specialized approach. This may include targeted direct mail campaigns or advertising in trade publications, depending on the situation and circumstances.
4. Negotiate an offer and structure the deal.
We will facilitate all negotiations between the buyer and seller, maximizing the value you receive for your business, while also ensuring a fair deal between both parties – essential to any successful business sale. Our goal is to structure a deal that makes sure both parties walk away happy. We also have relationships with most of the major Canadian banks, and can work with the buyer to successfully obtain financing.
5. Perform due diligence.
During the due diligence period the buyer will make sure that everything is in order with the business. We will be there to facilitate these activities, and to smooth over any issues that will inevitably arise during this process. Due diligence can be a challenging time, but this is where we get to work and make sure that your deal makes it to the finish line.
6. Finalize closing.
Once due diligence has been performed and everything is in order – the buyer and seller will attend the closing where all necessary documents are signed and any loans are finalized. You’ve now sold your business, and our job is done. Time to celebrate!
At the end of the day, our goal is to help you sell your business. We promise you won’t find a more complete, thorough and professional experience than the one myself and Murphy Business can provide. Contact us today for a free, no obligation consultation.