New Orleans, Louisiana Business Brokers | M&A Advisors

Business Broker and M&A Services in New Orleans, Louisiana

Sell Your Business With the Business Brokers of Morgan & Westfield, New Orleans, Louisiana

Selling a business is an extremely complex process. There are countless variables that can impact how your business is valued, marketed and sold. Many of these factors are impacted by your local marketplace and the industry in which you operate. For this reason, our business brokers at the New Orleans, Louisiana, office of Morgan & Westfield choose to facilitate business sales for business owners only in our local communities. This includes the communities of:

By choosing to operate exclusively within this region of Louisiana, our business brokers are able to better serve you. We have been able to cultivate and maintain relationships with countless local industry professionals who can assist our brokers with facilitating your sale. These relationships, along with the experience that our brokers have amassed over the years, also enable our brokers to maintain a unique understanding of the dynamics of the local marketplace.

Our ability to keep our finger on the pulse of the marketplace represents one of the key advantages to selling your business through Morgan & Westfield. As circumstances within the market change, our brokers are able to adjust their advice accordingly, thereby enabling you to optimize your sales strategy based on the current market conditions . Having the ability to understand and adapt to these market changes ensures that your business is always being sold with the best possible strategy and makes a successful sale far more likely.

Advice for Business Sellers

Because most business owners have likely never sold a business before, the entire process can be somewhat of an unknown. In order to illuminate the sales process and ensure that it goes smoothly, our business brokers will continuously provide you with advice. This advice includes tips for a smooth and successful sale, information about common seller mistakes to avoid and general information about the best ways to navigate the sales process. Some of the most common advice that we provide includes:

• Be as accommodating as possible to potential buyers: It is important that you do whatever you can to build a good rapport with your potential buyers. Having a good relationship will make them more willing to trust you and work with you. One of the best ways to build a good relationship with your buyers is through making an effort to be accommodating. If they ask you for some information or paperwork, make an effort to provide it in a timely fashion. If they request a meeting at a specific time, make an effort to meet when it is convenient for them. These simple tasks can go a long way in terms of building a positive relationship with your potential buyers.
• Sell your business as discreetly as possible: In order to protect your business’s value, it is absolutely vital that your business is sold discreetly. When businesses are not sold discreetly and information leaks cause your sale to become public knowledge, your company’s value will suffer. Customers will take their business elsewhere, employees will disengage and competitors will seize the opportunity to gain market share. The best way to maintain a discreet sale is simply to not tell anyone that your business is being sold until after the sale has been closed. However, this is not always possible. If this is the case, require anyone who has knowledge of your sale to sign a confidentiality agreement (including trusted employees).
• Understand that business values are subjective: Valuing a business is not an exact science, and many experts disagree on the best methods. Ultimately, business valuations can be somewhat subjective. Even when two professional brokers are utilizing the same valuation methods, they may reach different conclusions about your company’s value. You must understand this and recognize that any valuation that you receive is only an estimate of your company’s value. Because it is only an estimate, you should always maintain some level of flexibility with the way you view your company’s value. And you must remember that no matter what the results of your appraisal are, only the market can determine your company’s true value.
• Do not take negotiations personally: As a business owner you undoubtedly have a deep connection to your company and it is understandable that selling it can be an emotional experience. However, it is absolutely vital that you do not make emotional decisions. This is especially challenging during the negotiation process, as buyers will often make low initial offers with the expectation of negotiating with you. You must not take these low offers personally, as doing so can cause negotiations to break down before they even begin.
• Consider financing your own sale: While seller financing is never required, there are many advantages to financing your own sale. So if you have the means to do so, you should at least explore this option.
• Make sure that what you are selling is clear: Oftentimes business owners will tell their buyer that “everything is for sale.” However, this is not normally accurate. Most businesses will rent or lease some of their equipment or property. Because you don’t actually own this property, you cannot include it in the sale. Unfortunately, your buyer has no way of knowing what property you own and what property you are renting and therefore cannot sell; this leads to confusion. The best way to eliminate this problem is to make a list of all of the property that you own and will be selling. This list can then be presented to your buyer so that there is no ambiguity in what assets you are selling.
• Prepare for your sale ahead of time: It is always best to plan and prepare for your sale before you enter the sales process. Doing so will significantly reduce the stress of selling your business and make the entire process easier. Entering the sales process prepared will also give buyers the impression that you operate with a level of professionalism and attention to detail, which will reflect positively on the way they view your company.
• Sell through a professional business broker: While you are technically able to sell your business on your own, you are always better off selling through a professional business broker. Professional brokers can expedite the sales process, connect you with qualified buyers, ensure a confidential sale, facilitate a more profitable sale and make the entire sales process easier for you.

Selling Your Business Through Morgan & Westfield

At the New Orleans, Louisiana, office of Morgan & Westfield, our business brokers are dedicated to making it easier for business owners to sell their business. We provide advice, support, and guidance to business owners as they navigate the sales process. Our brokers also provide technical services that are designed to complete the most challenging aspects of the sales process for you. Through providing these services, our business brokers ensure a smooth and successful sale. If you are selling a business in the New Orleans area and you are looking for a way to make the sales process easier for you, then our business brokers are here to help. To speak with one of our brokers and learn more about how we can make it easier for you to sell your business, contact the New Orleans, Louisiana, office of Morgan & Westfield today.