Business Brokers of Lakewood, Colorado
At the Lakewood, Colorado, office of Morgan & Westfield, we provide our business brokerage services exclusively to the business owners of the Denver metropolitan area.
Through operating locally, our business brokers have developed a unique connection to our local communities. We have built relationships with local business owners, investors, lawyers, accountants, tax professionals and banking officials throughout this region.
By working in these communities on a daily basis and leveraging our professional relationships, our business brokers have gained considerable knowledge about the local business market. This knowledge, coupled with our business brokers’ more than 100 years of combined experience in facilitating business sales, uniquely qualifies us to facilitate business sales in this region.
To best serve you, our business brokers keep their fingers on the pulse of this marketplace. We must know what challenges you are likely to face, what local qualities will be seen as an asset for your company, how businesses are valued in your specific market, and what it will take to facilitate a successful sale.
Through our years of experience and our local knowledge, our business brokers at the Lakewood, Colorado, office of Morgan & Westfield have maintained a unique understanding of all of these factors. This understanding is particularly extensive in the communities that make up the Denver metropolitan area. These communities include:
Lakewood, Edgewater, Arvada, Berkley, Westminster, Thornton, Leyden, Golden, Genesee, Kittredge, Evergreen, Indian Hills, Aspen Park, Ken Caryl, Louviers, Highlands Ranch, Parker, Centennial, Lone Tree, Cottonwood, Dove Valley, Littleton, Bow Mar, Englewood, Watkins, Aurora, Welby, Derby, Glendale and Denver.
Through utilizing our business brokers’ unique level of experience and local knowledge, we are able to facilitate hundreds of business sales in the Denver metropolitan area each year. Companies that our business brokers sell range in value from $50,000 to more than $85 million.
Our business brokers have facilitated sales for a large variety of companies as well. Some of the different types of companies that our business brokers have sold locally include: car dealerships, real estate agencies, medical practices, educational companies, tech companies, internet-based companies, retail stores, accounting firms, construction companies, manufacturing companies, law firms, child care companies, travel agencies, restaurants, art galleries, transportation companies, breweries, and energy companies.
Having our local knowledge and our diverse record of successfully facilitating business sales, our business brokers at the Lakewood, Colorado, office of Morgan & Westfield are qualified to manage the sale of any business in the Denver metropolitan area.
What Every Seller Should Know
At Morgan & Westfield, our business brokers provide services to address the technical aspects of your sale and continuous guidance throughout the sales process. However, we also make an effort to do more than just provide services and guidance; we also educate you as a seller. Our business brokers believe that by helping you understand the sales process, everything will become easier and less stressful for you.
When providing insight into the inner workings of the sales process, we focus on teaching you about what we believe every business seller should know, including:
- Selling Your Business Discreetly Is Essential: The importance of maintaining confidentiality cannot be overstated. If news of your sale leaks and your competitors, suppliers or customers learn about the sale, the value of your company could diminish. Suppliers could end their contracts or refuse to enter into new contracts. Customers could go elsewhere. And competitors could seize the opportunity to gain market share while your company is vulnerable. All of these things will decrease your company’s value.
- Be Upfront with Buyers: Buyers know that every company has its shortfalls. If you are honest about these from the beginning, a buyer is far more likely to be understanding. If you try to hide them and the buyer discovers them (and the buyer will), then he or she will react more harshly.
- The Success of the Sale Depends on the Buyer: Most business sales are financed in some way, often by the seller. For a buyer to repay this financing, he or she will need the business to be successful. For this reason, working with buyers who are capable of running your business is vital. To ensure the buyer’s success, providing the necessary information and training when the buyer purchases your company is also important. Failure to do these things may not seem like a big deal right now, but it can prove costly to both the buyer and the seller in the long run.
- Your Company’s Value Is Market Dependent: A business valuation (even one done by our business brokers) is only an estimate. Just because your company is appraised at a certain value does not mean that it is what the market will provide. Ultimately, your company’s value is determined by how much a capable buyer is willing to spend. For this reason, you must maintain a level of flexibility in terms of your company’s value.
- Negotiations Are Never Personal: You must remember that a business negotiation is just like any other negotiation — both sides are working for the best possible deal. You should know this beforehand and use this knowledge to keep everything in perspective. Never take a low offer personally. Instead, you should simply view any offer (even an extremely low offer) as an invitation to continue negotiating. Remember, only the deal that is mutually agreed to matters — everything else is just a part of the process.
- There Are Tax Implications to Selling Your Business: You should seek professional tax advice (our business brokers can connect you to a tax professional) so that you are aware of your tax obligations in relation to the sale.
- Work with Professional Business Brokers: Businesses sold by their owners directly are almost always undervalued. These sales are often also structured incorrectly, making successful repayment unlikely. A business broker can prevent these issues, help you get a better price, expedite the process, and make everything easier for you.
Contact Morgan & Westfield
If you are a business owner in the Denver metropolitan area and you are considering selling your business, then our business brokers at the Lakewood, Colorado, office of Morgan & Westfield are here to help.
When you contact the Lakewood, Colorado, office of Morgan & Westfield, we will schedule you for a free initial consultation. This meeting comes with no obligations, and everything that is discussed is strictly confidential.
Our initial consultation is an opportunity for you to ask questions, learn about Morgan & Westfield, understand business sales, and know more about the ways that our business brokers can work to ensure that your business is sold successfully. To schedule your free initial consultation with one of our business brokers, contact the Lakewood, Colorado, office of Morgan & Westfield today.