Morgan & Westfield is not your average business broker. While traditional business brokers and business brokerage firms have always patterned their...
Every morning, partners Kirk Barnett and Dennis Adkins stood witness to the success of their former bakery/restaurant, Dulce, as tables were filled one by one and the queue of people at the cashier gradually reached the door. For the partners who were used to starting each day with a full house, business is good and life is as sweet as Dulce’s handmade pastries. So when it came time to sell their well-loved Santa Fe-based restaurant in 2016, their line of thinking was, “Who wouldn’t want to buy this business?” Although the business was enjoying steady revenue growth since its inception in 2010, Kirk and Dennis soon realized that not everybody shared their dream of running a successful restaurant. Locals might be eager to whet their appetites with Dulce’s artisan...Read the Full Story
For a business owner looking to sell a business, learning as much about the sales process would probably be one of the first few steps that he might take in preparation for the sale. Consequently, researching about buyers’ experiences and expectations when buying a business such as the one he owns may not be one of the priorities of a business seller.
To shed light on what the experience is like to be on the other end of the spectrum of buying a business, Mike Rabinovich shares his story on buying the successful Miracle Method franchise in Portland, Oregon.
The business that Mike bought was previously owned by Dan Ness. One of Morgan & Westfield’s clients who were able to sell their business, Dan worked and...Read the Full Story
When Jeremy Wells decided to put his business on the market, he was facing a lot of challenges. “It was a difficult year for me,” Jeremy recalled.
The business was slower than in the previous years. Jeremy was dealing with health issues with some family members. He was selling his business while managing other companies that he owned. He was running the business that was for sale while meeting with prospective buyers. “It's very challenging to try to begin the process of selling the company when you're right in the middle of running your company ... It's a bit like trying to design a new part of your ship while you're sailing,” Jeremy said.
Jeremy could have waited a year or more for the situation to get better...Read the Full Story
Originally purchased 32 years ago, Dan and Ginger Ness’s business is the fourth oldest Miracle Method franchise across the country. It is also one of the most profitable, being among the top 5 Miracle Method franchises in terms of production level and earning an estimated $1 million or more annually in the past several years.
For the first few years, Dan was hands-on and performed a lot of the work himself. “I did all the labor. In the beginning, I was the only technician until we hired our first technician. It was all up to me. I learned how to do everything and never stopped,” Dan recounted.
Despite having a successful million-dollar business, the Nesses decided to sell their company when Dan developed health...Read the Full Story
Oftentimes when selling a business, not everything will go exactly as the seller planned. A lot can go wrong along the way and many factors can stall the sale process.
However, that is not the case when Dr. Harry Freedman decided to sell his quick oil change franchise. From the minute he contacted Morgan & Westfield until a deal was finally closed, everything was smooth sailing.
“I thought it went fairly smooth. If it wasn't for Morgan & Westfield, trying to deal with lawyers and business transfers can be quite costly, quite time-consuming,” Harry explained when asked if he encountered any unexpected bumps on the road during the sale process.
Aside from Morgan & Westfield’s...Read the Full Story
Selling a business is not just about finding a buyer and closing a deal. It’s about finding the right person to carry on the previous owner’s legacy. This was the goal of Ed and Mary Antonowicz when they sold their successful home care business in 2015. They didn’t want to just hand the company to any buyer that came along.
“When you’re an owner of a business—this is your baby. This is your child. It’s living and breathing 24/7,” said Ed as he explained why finding the right individual who had the “tool set, emotional set and commitment” to continue what they had started was important.How Ed and Mary build their legacy as business owners
In 2003, Ed and Mary bought a ComForCare franchise in Scottsdale, Arizona. ComForCare is one of the leading home care franchise...Read the Full Story