Buy a Business

Are you contemplating selling your business or creating an exit strategy? 

It could be tempting to jump into the process of selling your business without hiring professional advisors such as a lawyer or an accountant to avoid paying professional fees. Our guest, however, explains why having access to professional advice and guidance from experts who have broad experience in the legal and financial aspects of the sale process can be tremendously beneficial in successfully closing a deal. 

On this episode, lawyer and business advisor Dan Cotter shares useful insights that you can use to prepare yourself for the legal side of closing a successful, mutually beneficial deal.

As no two business experiences are the same, no two sellers have also the same views on whom they would sell their business to. In this edition of “Deal Talk,” our guest, Diane Robbins who is a former owner of a Miracle Method franchise, decided to put her faith in the first interested buyer of her business. Did it pay off? Aside from sharing her experience in selling her business with host Jeff Allen, she also gives advice to business owners who are planning or in the process of selling their company.

Morgan & Westfield is not your average business broker. While traditional business brokers and business brokerage firms have always patterned their business model after that of real estate brokers, we at Morgan & Westfield deviate from this norm by operating like professionals, such as accounting and law firms. 

We’ve optimized the sale process to give business sellers quality services for a fraction of the fees that your average business broker will charge. How do we do this? 

First, we have a large backend support team that allows us to become more focused and run our processes more efficiently.

Second, we save time and resources by letting business owners physically show their business to the buyer. By cutting this step from our process, we have adjusted and reduced our fees accordingly.

Third, unlike traditional full-service business brokers, we offer our services on an a la carte basis. Our clients can choose which of our services they need and pay only for those services.

In addition, we also offer our assistance to business owners who may be contemplating the sale of their business in the future by providing valuation and customized exit planning services aimed at increasing the value of their business. 

At Morgan & Westfield, we only have our clients’ best interests in mind; we strive to give business sellers only the best services, assistance and guidance while providing significant savings.

On Deal Talk, we often hear from former business owners who have sold their companies or professionals who are dedicated to helping entrepreneurs sell their business or increase their bottom line. In this edition, however, we are flipping the coin to see the other side and look at the business sale process from the perspective of a person who has bought a business. 

Mike Rabinovich is the new owner of the Miracle Method franchise in Portland, Oregon, which he purchased from one of Morgan & Westfield’s clients Dan Ness. In his conversation with Deal Talk host Jeff Allen, Mike talks about what made him decide to choose a Miracle Method franchise as well as the challenges he faced during the sale process. He also talks about his plans for the future growth of his new business and gives sound advice for business buyers and new business owners.

Ed and Sonia Ketchoyian, former owners of a PuroClean franchise in Sterling, Virginia, were prepared to sell their business in terms of the financial aspect and the negotiation. However, Ed realized that they were initially not ready to face the emotional aspect that came with the process of selling their company.

Find out on this episode of Deal Talk how Ed and Sonia had overcome the emotional challenges they encountered to eventually sell their company at the price they had always wanted. Ed Ketchoyian shares some enlightening insights and invaluable tips to help you deal with ‘unexpected’ emotional instances that might arise as you go through the process of selling your business.

In this day and age of rapidly growing entrepreneurship, there are more and more options for you to consider when it comes to deciding who to work with to help you sell your company. Business brokers have been around forever, but changing perceptions in the rapidly changing M&A industry have challenged some business brokers to find creative ways to separate themselves from others to stand out in a crowded field. 

So how do the best business brokers serve those interests? Nelson Bayford brings 40 years of business brokerage success to every client he works with. As business broker and commercial specialist at Business Finders Canada, Nelson will share his view of what a business broker should do for their clients while providing sound advice to entrepreneurs looking to succeed in a competitive marketplace.

What does a prospective buyer already know about your company? Why is it important that the buyer understands why you want to sell your company? How can you prevent certain issues from coming up that could nix the transaction completely? These are just a few of the questions that M&A folks help sellers understand every day.

Understanding the psychology of the participants in a deal is important in order to work toward the success of the transaction. Ed Murphy, former vice president for strategic transactions at SAIC is enjoying retired life, but he joins us on this edition of Deal Talk to help future sellers understand what a buyer may be thinking and what sellers should do and not do during the sales process.

A company’s culture is the mindset about the beliefs, attitudes and actions that a company maintains to satisfy its customers while ensuring the success of its people and the organization as a whole. In a merger, however, the corporate culture of one organization may not reflect that of its acquiring company although each is committed to the success of a deal that is good for both the sell- and the buy-side companies. 

Our guest on this episode, Dr. Curtis Odom, recipient of Corporate LiveWire’s Post-Merger Integration Advisor of the Year (USA) award in 2016, emphasizes how important early cultural integration is to the long-term success of a sale or merger.

There are several routes you can take to sell your company. No matter which way you decide to go, the buyer involved in the process will have a slightly different perspective from yours. On this edition of “Deal Talk,” you will learn the difference between M&A firms and investment banks and, specifically, how some buy-side consultants work with their clients to assist in the early stages of the M&A process. Is your company being targeted for an acquisition? What are potential buyers thinking about your business? How will a price be determined for your business? What are some of the potential hurdles you might encounter? For answers, listen to Jeff Allen's conversation with Nonye Ukawuba, CPA and M&A advisor at Riveron Consulting in Chicago.

If you own commercial property of any kind, whether it’s where you operate your business or it’s property you lease to others, this program is for you. The IRS tax code includes provisions that could save you money — potentially a lot of money. However, many business owners are not aware of these advantages that have actually been part of the tax code for years, so we’ve invited Mr. Steven Oppenheim to fill you in on the details. He’s a CPA and partner at Gettry Marcus in New York. As a member of the firm’s Real Estate Group, he works with commercial and residential property owners and developers on matters that may impact their businesses.


The Complete Guide to Selling a Business

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