Ask The Expert

Why are your fees less than other firms?

There are three primary reasons:

  • We are more efficient. Specialists are always more efficient than generalists. We have broken down the process of selling a business into a series of specific steps and made each one as efficient as possible. This allows us to divide each step into manageable tasks that are worked on by in-house experts who focus on one particular area. What used to take one person 20 to 30 hours working alone to complete can be done in five to ten hours by our team. Each team member focuses on projects within their specialty and is therefore much more efficient than a generalist.
  • We’ve been working exclusively by phone and email, long before it became common to do so. This saves a tremendous amount of time and expense.
  • Because we are fee-based, you don’t pay for transactions that don’t close or services you don’t need. We are compensated only for the work we do. The result is a more efficient, lower-cost process. Commission-based firms charge high fees to compensate for the typical 50%-75% of transactions that do not close, meaning that part of any commission you pay them offsets time the broker spent on other businesses that didn’t get sold. Our fee-based compensation structure also allows us to maintain a large staff, which would be impossible with a commission-only structure.
    • Imagine if you went to see a surgeon, and the surgeon did everything. They answered the phones, scheduled appointments, cleaned the office, answered emails, did the marketing, designed the website, and more. It’s more efficient for the surgeon to focus only on what they do best, which is surgery, and delegate everything else. Likewise, we have perfected the process of selling a business and have broken it down into concrete, documented steps performed by in-house specialists who focus on their work without expensive office space to maintain or time spent stuck in traffic. We enable our specialists to focus on what they do best, at every step of the sales process. With Morgan & Westfield, you only pay for the time our team of highly trained specialists devotes to selling your business, not someone else’s.