Summary of our Professional Fees

Our fees vary based on the size of your business and our level of involvement. Our fee structure generally averages 2% - 8% of the selling price of a business. To request a proposal for your business, please contact us at 888-693-7834 or send an email to info@morganandwestfield.com. We will send you a questionnaire to complete and set up a series of consultations to enable us to create a customized strategy to sell your business.
Click here for businesses with more than $5 million in annual revenue


Business Services: Storage Facility in Washington

Selling Price: $735,000

A “sophisticated” seller who owned four businesses wanted to sell a storage facility in Washington. He required help in selling the business, but a traditional broker was not a good fit due to the high fees that they charged.

We developed a marketing strategy and advertised his business for sale. The seller prepared for the sale with the help of his CPA, screened prospective buyers using our forms, and accepted an offer from a buyer we found 45 days after putting the business on the market. The seller’s CPA and attorney handled the closing. The entire sale process took four months.

Summary of Services and Fees:

  • Normalized financial statements, provided a verbal opinion of value and discussed strategy to sell the company
  • Advertising strategy, ad composition, ad placements and advertising
  • Assistance with offer, due diligence and closing
  • Seller prepared for the sale with the assistance of his CPA
  • Seller’s attorney and CPA assisted with the closing
  • Total Fees: $24,750 (3.37% of Selling Price)
  • Average Broker Fees: $73,500*
  • Total Savings through Morgan & Westfield: $48,750 (66.33% of average broker fees)* Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.

*Brokers typically do not include fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.

Does broker fees normally include closing fees and other fees paid to third parties?


Service Industry: Staffing Company in Texas 

Selling Price $150,000

Although motivated and prepared to sell, the owner needed guidance through the process and help in advertising the business for sale. The seller wanted to minimize broker fees to keep the price of the business competitive.

We reviewed her business by analyzing key documents, advised her on how to attract the right buyer, normalized her financial statements and gave her a verbal opinion of value.
The business was advertised to attract local and national buyers. Because we screened all buyers for her, she met only with qualified buyers. This strategy saved her a lot of time. Within five months, the business was acquired by a local synergistic buyer. The process took seven months to complete.

Summary of Services and Fees:

  • Normalized financial statements, provided a verbal opinion of value and discussed strategy to sell the company
  • Advertising strategy, ad composition, ad placements and advertising
  • Assistance with offer, due diligence and closing
  • Closing assistance
  • Total Fees: $6,150 (4.1% of Selling Price)
  • Average Broker Fees: $18,500*
  • Total Savings through Morgan & Westfield: $12,350 (66.76% of average broker fees)

* Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.

Why are your fees lower than those of other brokers?


Technology and E-Commerce: Website

Selling Price $375,000

The owner was a first-time business seller who sought guidance throughout the process. Here are the steps we took to assist him: (1) Helped him prepare for the sale several months in advance; (2) walked him through the process with the help of his CPA and trusted mentor; (3) normalized his financial statements; (4) prepared a business valuation; (5) wrote a business summary; and (6) provided advice throughout the entire sale process. 

Many websites sell below their market value because they attract the wrong buyer.  So for this business, attracting the right buyer was key to selling at the seller’s desired price.
We advertised the business for sale, screened the buyers and received an offer within eight months. The offer and due diligence went smoothly. We coordinated the closing with a local escrow company.

Summary of Services and Fees:

  • Normalized financial statements, prepared business valuation and business summary, and advised seller on key issues
  • Advertised the business and screened buyers
  • Managed the offer, due diligence and closing (includes fee to escrow company)
  • Escrow company facilitated the closing
  • Total Fees: $18,250 (5.13% of Selling Price)
  • Average Broker Fees: $37,500*
  • Total Savings through Morgan & Westfield: $18,250 (48.67% of average broker fees)

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.

Why is the pricing different for each business?


Automotive Industry: Auto Repair Shop in Utah 

Selling Price $378,000

The seller contacted us early in the process. He used our resources including sales guidelines, forms and the “Deal Guide” to prepare for the sale of his business. He wanted someone who would facilitate the transaction, but not completely control it. He felt that a broker that charges a full commission was unnecessary and might get in the way of the transaction.

The business was advertised locally within the industry – in trade publications and through word of mouth. A local buyer with experience was interested in the business, and the seller contacted us for help in preparing the offer and managing the closing. He wanted to ensure the buyer was qualified and that the seller financing was structured properly.

We assisted him in preparing the offer – guiding both the buyer and seller through due diligence and orchestrating the closing process with a local closing attorney in our network. The entire process took approximately five months to complete.

Summary of Services and Fees:

  • Normalized financial statements, provided a verbal opinion of value and discussed strategy to sell the company
  • Assistance with the offer, seller financing, due diligence and closing
  • Seller advertised the business locally within the industry
  • Closing attorney facilitated the closing
  • Total Fees: $11,750 (3.11% of Selling Price)
  • Average Broker Fees: $37,800*
  • Total Savings through Morgan & Westfield: $26,050 (68.92% of average broker fees)

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Business Services: Creative Services in Texas 

Selling Price $715,000

The owner has owned the business for over a decade. He researched several brokers before deciding to use Morgan & Westfield's services due to our fee structure and capabilities.

The business did not require a lot of preparation because the seller had already put in place significant infrastructure and systems in his business. We performed all major steps in the process for the seller, including preparing a verbal opinion of value, preparing a business summary, normalizing the financials, marketing the business for sale, screening buyers and closing the transaction. We closed the sale in approximately 10 months.
Summary of Services and Fees:

  • Prepared business summary
  • Normalized financial statements, provided a verbal opinion of value and discussed strategy to sell the company
  • Advertising strategy, ad composition, ad placements and advertising fees
  • Assistance with offer, due diligence and closing
  • Total Fees: $26,950 (3.77% of Selling Price)
  • Average Broker Fees: $71,500*
  • Total Savings through Morgan & Westfield: $49,550 (62.31% of average broker fees)

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Food and Beverage: Restaurant in Texas 

Selling Price $245,000

The owners have owned restaurants all of their lives and preferred not to use brokers; however, they wanted to get more exposure for the business and attract as many buyers as possible.
The owners have sold many restaurants in the past and prepared for the sale several months in advance. We assisted the sellers in advertising their business, and they complemented our methods by advertising in their local newspaper. They screened prospective buyers using our forms and guides.

The buyer was found locally through word of mouth; however, the sellers told us that the presence of many potential buyers and the excitement of negotiating with several of them at the same time helped move the sale at a quicker pace than if they had not had so much activity. The closing was handled privately between the buyer and seller. The process took approximately four months.

Summary of Services and Fees:

  • We assisted the seller with advertising the business for sale, and they supplemented our methods with local advertising
  • Advertising strategy, ad composition, ad placements and advertising fees
  • Assistance with offer, due diligence and closing
  • Seller handled the sale using her CPA
  • Total Fees: $8,500 (3.47% of Selling Price)
  • Average Broker Fees: $24,500*
  • Total Savings through Morgan & Westfield: $16,000 (65.31% of average broker fees)

* Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Retail: Computer Store in Missouri 

Selling Price – $130,000

The seller is sophisticated and has owned multiple businesses, but is not entirely a do-it-yourself person. He is a busy guy who wants to make sure he does things the right way but at a low cost.
He contacted us early in the process for help with the entire sale process. We prepared a business summary, reviewed his financial statements and other key documents, discussed pricing and helped the seller prepare the business for sale. He was selling the business so he could focus his efforts on his other business, which was growing at a fast pace. He wanted a fast sale at a reasonable price while minimizing fees. We created an advertising strategy, implemented it and screened all buyers for him. He met with two qualified buyers and received an offer from a local buyer within six weeks.

We assisted in preparing the offer and managing the closing with the assistance of a local attorney. A $10,000 holdback was structured as part of the sale and was released 90 days after the closing. The entire process took approximately three months.

Summary of Services and Fees:

  • We prepared a business summary, reviewed key documents, discussed pricing, created an advertising strategy and ensured the sale process was smooth and timely
  • We advertised the business for the seller and screened buyers
  • We assisted the seller with preparing an offer and managing the closing. We located a local attorney to handle the closing at a discounted rate
  • Total Fees: $4,000 (3.08% of Selling Price)
  • Average Broker Fees: $18,500*
  • Total Savings through Morgan & Westfield: $14,500 (78.38% of average broker fees)

* Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Food Service: Franchisor with Multiple Locations 

Less than $100,000 selling price each

The seller is a nationwide franchisor in the pizza business that has locations throughout the United States. The seller is sophisticated with inside sales and legal team; however, he wanted to get more exposure for the businesses he was selling.

We assisted the seller in advertising the businesses for sale, and have sold three locations to date. Buyer leads were sent directly to the franchisor and his sales team screened them. The offer and closing of each business were handled internally with the assistance of his legal team.

Summary of Services and Fees:

  • The businesses were advertised and buyers contacted the franchisor directly
  • Total Fees: $1,500 per location (1.5% of Selling Price)
  • Average Broker Fees: $18,500*
  • Total Savings through Morgan & Westfield: $17,000 (91.89% of average broker fees)

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Professional Practice: Accounting Firm in Arizona 

Selling price $650,000

The seller is sophisticated and was prepared to sell. She had organized the key documents; however, she wanted a second opinion and more exposure for the business.
We reviewed the seller's business and key documents, discussed strategies for selling the company and prepared a business summary. The seller advertised the business in trade publications, and we screened the buyers so confidentiality could be maintained. Buyers were required to sign a non-disclosure agreement and submit a buyer profile before learning the identity of the seller. Qualified buyers were then allowed access to the business summary. The seller then met with interested and qualified buyers. An offer was accepted within eight months.

The offer and closing were handled with the help of their attorney. The process took 10 months to complete.

Summary of Services and Fees:

  • Reviewed the business and key documents, and prepared a business summary
  • Screened buyers
  • The seller advertised the business for sale in trade publications
  • Seller handled the closing with her attorney
  • Total Fees: $10,850 (1.67% of Selling Price)
  • Average Broker Fees: $65,000*
  • Total Savings through Morgan & Westfield: $54,150 (83.31% of average broker fees)

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Micro Business: Home-Based Auto Detailing Company in Ohio 

Selling Price $25,000

The seller had never sold a business before and wanted help, but broker fees were too high. We guided the seller through the process while keeping fees as low as possible. The seller used our guides and forms to keep the fees low.

The seller prepared a business summary, and we did a quick review of his business and key documents. We then advertised the business for sale, and he screened buyers using our forms.
A buyer was located within five months, and we managed the offer and closing with the aid of a local escrow company.

Summary of Services and Fees:

  • Reviewed the business and key documents, and prepared the business summary
  • Advertising strategy, ad composition, ad placements and advertising fees
  • Assistance with offer, due diligence and closing
  • Escrow company facilitated the closing
  • Total fees: $4,500 (18% of Selling Price)*
  • Average Broker Fees: $18,500**
  • Total Savings through Morgan & Westfield: $14,000 (75.68% of average broker fees)

*The percentage is higher for businesses priced less than $150,000; however, there are still savings, as most brokers have a minimum fee ranging from $15,000 - $18,000.
**Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.


Ethnic Business: Japanese Restaurant in California

Selling Price $165,000

The husband and wife have owned one restaurant before and sold it with the help of a business broker. This time they wanted help but did not want to pay high fees.
We helped them prepare for the sale by reviewing their lease, financial statements and other key documents. We advised them how to sell the business, keeping in mind that the buyer would likely be  Japanese, Korean or Chinese. The seller advertised the business for sale in Japanese and Korean newspapers.

Summary of Services and Fees:

  • The businesses were advertised, and buyers contacted the franchisor directly
  • Total Fees: Less than $1,500 per location (0.90% of Selling Price)
  • Average Broker Fees: $16,500*
  • Total Savings through Morgan & Westfield: $15,000 (90.91% of average broker fees) per location.

*Brokers typically do not include the fees paid to third parties, such as the closing agent or CPA. However, we have included these fees in our calculation to remain conservative.

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Average Broker Fees are based on the following:

  • Minimum Broker Fee – $18,500
  • 10% commission for businesses below $1 million in Asking Price

References and Citations:

1. Business Brokerage Press Industry Survey (2011) - An annual survey of the Business Brokerage Industry; Business Brokerage Press, Inc. (BBP)

What is your customary commission rate as a percentage? Business Brokerage Press Industry Survey (2011) - An annual survey of the Business Brokerage Industry; Business Brokerage Press, Inc. (BBP), page 5.

  • Less than 8% commission – 6% of brokers
  • 8% commission – 8% of brokers
  • 10% commission – 59% of brokers
  • 12% commission – 15% of brokers
  • 15 % commission – 1% of brokers
  • Other – 11% of brokers

What is your minimum commission, in dollars? Business Brokerage Press Industry Survey (2011) - An annual survey of the Business Brokerage Industry; Business Brokerage Press, Inc. (BBP), page 5.

  • Main-Street Average – $18,500
  • Middle-Market Average – $94,500