Why You Need a Business Broker
Our business brokers are often asked why a business owner should sell their business through a broker. The truth is, there are an infinite number of reasons why, but some of the main reasons include:
- Price: Businesses that are sold by their owners directly almost always sell for a lower price than they would if they were sold by a professional business broker. At Morgan & Westfield, our brokers work to ensure that your business is sold for the highest price possible by creating a competitive environment among potential buyers.
- Exposure: Most business owners do not have access to the necessary resources to expose their business to a large audience of potential buyers. This represents a major downside of private sales. Fewer interested buyers mean less competition to purchase the company, which leads to a lower market value and reduces leverage during negotiations.
But with a professional business broker like the brokers at Morgan & Westfield, exposure is never a problem. We have the ability to expose your company to a large pool of buyers, increasing competition and helping to both expedite the sale and raise the market value.
- Details: When selling a business, there seems to be an endless supply of details that need to be addressed. Paperwork needs to be completed accurately, leases need to be checked, permits need to be updated, and the list goes on. Many minute tasks must be completed correctly; otherwise, the entire sale could fall through.
Most business owners don’t have the experience or time to handle all of these. But at Morgan & Westfield, we have the time and expertise to ensure that everything is handled correctly so that you don’t have to worry about the details.
- Confidentiality: Most business owners don’t know all of the “tricks of the trade” when it comes to maintaining confidentiality, making information leaks far more likely. But by working with our experienced business brokers, this will never be a problem.
- Speed: Because most business owners lack the time and experience in selling businesses, the process tends to be more drawn out. Negotiations take longer, finding a suitable buyer is harder, deals are structured incorrectly, and mistakes are made. At Morgan & Westfield, we prevent all of these issues and expedite the process.
- Successful sales: Statistically, more than half of the businesses that are sold directly by their owners do not sell successfully. Meaning, these sales end in court, result in transactional problems, are not properly financed, or fall through entirely — more than half of the time. At Morgan & Westfield, we pride ourselves on facilitating successful business sales wherein these issues do not happen.
- Insider knowledge: As a business owner, the information that you have about your market and other business sales is limited, putting you at a disadvantage. At Morgan & Westfield, our business brokers have access to a massive amount of information about other local business sales and the local business market.
- No room for error: Selling your business will most likely be one of the most important decisions you will ever make. If the sale is completed successfully, your life can change.
Maybe you want to retire, move across the country, or just spend more time with your family. These dreams can all come to fruition if the sale is successful. But if it is unsuccessful, not only might these dreams be put on hold, but the entire process can turn into a nightmare. You could easily end up in a long legal dispute with a potential buyer that could cost you the realization of your dreams.
Given the magnitude of this decision and the high stakes that are involved, why would you take a chance? Our business brokers will work to ensure that your business is sold successfully so you can realize your dreams.
Business Brokers of the Kansas City Area
If you are selling a business in the Kansas City, Kansas, or in the Kansas City, Missouri, area, our business brokers at the Olathe, Kansas, office of Morgan & Westfield are here to help.
With over 100 years of accumulative experience in facilitating business sales in this region, we have extensive knowledge of the area.
We work with business owners in this marketplace every day, so we know what it takes to sell a business here, how businesses are valued, and what challenges will need to be overcome. This local knowledge is what separates our business brokers at the Olathe, Kansas, office of Morgan & Westfield from other business brokers. In fact, our local expertise is such an asset that it enables us to facilitate hundreds of business sales in this region each year.
Our business brokers are particularly knowledgeable about the communities that make up the Kansas City Metropolitan area. This includes communities in both Kansas and Missouri. Specific communities in Kansas where we are experienced in include:
Olathe, Overland Park, Kansas City, Louisburg, Stilwell, Bucyrus, Spring Hill, Wellsville, Edgerton, Vinland, Baldwin City, Gardner, Hesper, New Century, De Soto, Prairie Village, Lenexa, Leawood, Mission, Shawnee, Bonner Springs, Riverside, Waldron, Farley, Maltby, Lansing and Leavenworth.
Missouri communities in which our brokers are experienced include:
Kansas City, Sugar Creek, Raytown, Grandview, Lee’s Summit, Belton, Raymore, Pleasant Hill, Oak Grove, Blue Springs, Independence, Avondale, North Kansas City, Randolph, Gladstone Oaks, Pleasant Valley and Liberty.
Contact the Olathe, Kansas, Office of Morgan & Westfield
If you are selling a business in the Kansas City Metropolitan area, our business brokers have the expertise to help. We understand this marketplace and know how to sell businesses here.
If you would like to learn more about our services, contact our Olathe, Kansas, office today to schedule a free initial consultation with one of our professional business brokers. During this meeting, we will explain everything that you need to know about business sales and how Morgan & Westfield will work to sell your business.
To schedule your free consultation, contact the Olathe, Kansas, office of Morgan & Westfield today.