Our business brokers provide a variety of services to facilitate business sales. From planning your sale to appraising your company, to finding a buyer, to closing the sale — we can help you in every step of the way.
As experienced business brokers and former business owners who have personally gone through the sales process as sellers, we understand how stressful and overwhelming the process of selling can be. For this reason, our business brokers also act as a source of guidance and support, in addition to providing our more technical services. This guidance comes in the form of advice, tips for a successful sale, answers to any questions that you may have, and information about the sales process in general.
The Process of Selling Your Business in Albuquerque, New Mexico
As former business owners who have personally sold their own business, we understand the importance of educating you about the sales process. Our brokers ensure that you are aware of what to expect in this process.
While the sale of each company will have its own subtle differences, most business sales follow the same general process. This process normally includes:
- Planning Your Sale: Before the sales process begins, developing a strategy for selling your business is important. You need to determine things like how you will advertise your sale, what your asking price will be, if you will finance your own sale, and what will be included in your sale. At the Albuquerque, New Mexico, office of Morgan & Westfield, our brokers will walk you through the planning process. We will assist you in developing a sales strategy and ensure that you are prepared to begin the sales process.
- Determining Your Business’s Value: Along with planning your sale, you will need to determine your asking price. To do this, you must understand the value of your business. At Morgan & Westfield, our business brokers will perform a formal appraisal of your company and provide you with a full analysis of your marketplace. The results will be provided in a formal business valuation report. This information will then be used by our brokers to determine a most probable selling price and recommend an asking price.
- Advertising Your Sale: Once you have established your sales strategy and determined an asking price, you must put your business up for sale officially. However, advertising a business sale is not like advertising any other type of product. Your sale must be advertised confidentially. Failure to do so can have disastrous implications for both your sale and the future of your company. At Morgan & Westfield, our brokers will implement a confidential marketing campaign that simultaneously maintains your confidentiality and alerts potential buyers that your business is for sale.
- Screening Potential Buyers: As your sale is advertised, potential buyers will begin to inquire about purchasing your company. These inquiries will come from both legitimate potential buyers and those who have minimal genuine interest in purchasing your company. To ensure that you are only connected to serious candidates, our business brokers will screen all potential buyers.
- Due Diligence: Once a buyer is found, it is important that you and your buyer learn as much about each other as possible so that you can both make informed decisions. At Morgan & Westfield, our brokers will assist you in researching your buyer and providing your buyer with information about your company.
- Negotiations: After the due diligence process has concluded and both parties know enough about each other to make informed decisions, negotiations begin. During this phase of the sales process, you and your buyer will discuss the terms of your potential sale. Your buyer will make an offer, and you will either accept, reject or counter their offer with compromising terms. This process will continue until either an offer is accepted or you choose to no longer negotiate with the buyer. Throughout this process, our brokers will provide you with advice and guide you through the negotiations.
- Financing: Once terms are agreed to, the sale will most likely need to be financed. This can be done either through seller financing or through an outside lending service. At Morgan & Westfield, we can assist you in securing financing through either of these avenues.
- Closing Your Sale: Finally, once financing is secured and the terms of the sale are agreed to, your sale must be closed. At Morgan & Westfield, our business brokers will draft a sales contract for this purpose. This contract will reflect the terms that were agreed to during negotiations, and once it is signed by both parties, this contract will finalize your sale.
New Mexico’s Bernalillo County Business Brokers and M&A, Morgan & Westfield
At the Albuquerque, New Mexico, office of Morgan & Westfield, our business brokers have hundreds of years of combined experience in guiding business owners through the sales process throughout New Mexico’s Bernalillo County area. Our brokers are particularly experienced at facilitating business sales in the communities of:
Albuquerque, North Valley, Rio Rancho, Bernalillo, Santa Ana Pueblo, Placitas, Algodones, San Felipe Pueblo, Zia Pueblo, Budaghers, Rosario, Madrid, Golden, Sandia Park, Cedar Crest, Tijeras, Edgewood, Moriarty, Yrisarri, McIntosh, Chilili, Tajique, Jarales, Belen, Meadow Lake, Los Lunas, Peralta, Tohajiilee, Mesita, Laguna and South Valley.
As a result of their extensive experience in facilitating sales throughout this region, our brokers have developed a unique understanding of this marketplace. This understanding of the dynamics of the marketplace has enabled our brokers to facilitate hundreds of successful sales throughout this region each year. To learn more about how our business brokers can facilitate the sale of your business, contact the Albuquerque, New Mexico, office of Morgan & Westfield today.