Services offered in Morgan & Westfield, Fort Collins, Colorado Office
At Morgan & Westfield, our business brokers provide technical services that address the finer details of your company’s sale. These services will guide you through the completion of each step in the sales process, ensuring that your business will be sold successfully. The services that we provide include:
- Exit Planning Services
- Business Appraisals
- Creation and Distribution of Offering Documents
- Production and Execution of a Customized Confidential Marketing Campaign
- Assistance in Finding Quality Buyers
- Buyer Screening Services
- Negotiation Preparation and Facilitation
- Closing Services
- Constant Support and Assistance in Overcoming Unexpected Challenges
By providing you with these services, we are also expediting the sales process and reducing the likelihood of any costly errors. These services have proven to be effective in facilitating successful business sales, and they can work for you too. To take advantage of these services, simply contact the Fort Collins, Colorado, office of Morgan & Westfield today.
Common Seller Mistakes
Another key aspect of our services is supported. We offer guidance, answer your questions, and give advice that can help you avoid common mistakes. Without the guidance of a professional business broker, business owners who choose to sell their company on their own often make mistakes.
When you sell your business through Morgan & Westfield, we will be a constant source of support and guidance to ensure that you avoid the common errors that are made by many business sellers. Some of the common mistakes that we will help you avoid include:
- Pricing Your Business Out of the Market: When you determine an asking price, you must consider more than just the value of your company. You must also think about the local market and how other businesses are selling. If you fail to take these factors into consideration and you price your business too high or too low, you might price yourself right out of the market. This will make your company far more difficult to sell. So be sure to research your local market when you are determining an asking price.
- Inability to Maintain Reasonable Expectations: Business owners will often hear from someone that their company should receive the full asking price and be sold as soon as it hits the market. These expectations are unrealistic. Companies take the time to sell, and receiving your full asking price with minimal negotiation is unlikely. When a seller’s unrealistic expectations are not met, he or she often becomes discouraged and less engaged in the sales process. This only exacerbates the problem. So it is important that you keep everything in perspective and maintain realistic expectations.
- Selling Indiscreetly: Sellers sometimes feel tempted to tell their friends, family, neighbors, customers, and employees about the sale from the beginning of the process. Making the sale common knowledge in this way will hurt your company’s value. Competitors will see your sale as an opportunity to gain market share, employees will look for work elsewhere, suppliers will be hesitant to renew contracts, and customers will stop coming. All of these will affect your company’s value. So you must sell your business as discreetly as possible; if you must inform someone, ask him or her to sign a non-disclosure agreement first.
- Being Unspecific about What Is for Sale: Sellers often tell buyers that “everything is for sale.” However, this is usually not true. Most businesses will have some type of rented or leased property or equipment. These items cannot be sold because you do not own them. Many problems will arise if a buyer believes that he or she is buying a building as part of the sale but you do not own that building. So you must make it clear to buyers what specifically is being sold.
- Being Unprepared for the Sale: Sellers may not have their financial information or company records in order when they begin the sales process. Any serious buyer will eventually ask for these documents. If you do not have them, the buyer may think that either you are not taking the process seriously or you are hiding something. So prepare everything ahead of time.
- Not Completing Obligations as a Seller: You will be required to transfer property, provide proprietary information, sign contracts, complete paperwork, and train your buyer. Failure to do these things can have devastating consequences. These obligations will be outlined in the sales contract, and if you do not complete them, you will breach the contract and the sale could be nullified. So be aware of your responsibilities and complete them in a timely manner.
Business Brokers of Northern Colorado
At the Fort Collins, Colorado, office of Morgan & Westfield, our business brokers have a proven track record of success, with hundreds of years of combined experience in facilitating business sales within our local communities. Communities where we have been particularly successful in include:
- Larimer County: Fort Collins, Laporte, Wellington, Livermore, Buckeye, Norfolk, Rustic, Kinikinik, Spencer Heights, Estes Park, Glen Haven, Drake, Masonville, Kelim, Timnath, Campion, Berthoud, and Loveland.
- Weld County: Carr, Nunn, Pierce, Briggsdale, Severance, Galeton, Windsor, Mead, Johnstown, La Salle, Evans, Garden city, Kersey, and Greeley.
Through our extensive experience within these communities, our business brokers have gained a unique perspective of the local business market. This perspective has led to our success, and it is what separates Morgan & Westfield from other business brokerage firms. If you are a business owner in one of these communities and you are considering selling your business, contact the Fort Collins, Colorado, office of Morgan & Westfield to learn how we can help you successfully sell your business.