Business Brokers of Providence, Rhode Island, Morgan & Westfield
Our professional experts in the “Creative Capital” at our Rhode Island office of Morgan & Westfield provide business brokerage services to nearby business owners. This includes communities in Rhode Island, Massachusetts, and Connecticut.
Specific communities within this region that we serve include:
- Rhode Island: Providence, Pawtucket, Cranston, Cumberland, Woonsocket, Smithfield, Greenville, Glocester, Foster, Burrillville, Nasonville, Johnston, Scituate, East Providence, Central Falls, Warren, Bristol, Hillsgrove, Warwick, Lippitt, West Warwick, West Greenwich, East Greenwich, Exeter, North Kingstown, Middletown, Jamesport, Newport, Kingston, Richmond, North Kingstown, South Kingstown, Narragansett, Hopkinton, Charlestown, and Portsmouth.
- Connecticut: Thompson, Putnam, Killingly, Sterling, and Brooklyn.
- Massachusetts: Millville, Blackstone, Uxbridge, Douglas, Bellingham, Seekonk, Franklin, Wrentham, Foxborough, Mansfield, Plainville, North Attleboro, Attleboro, Norton, Easton, Bridgewater, Raynham, Taunton, Middleboro, Rehoboth, Dighton, Berkley, Myricks, Swansea, Fall River, New Bedford, Freetown, Somerset, Westport, Mattapoisett, and Dartmouth.
Morgan & Westfield has dozens of years of combined experience in facilitating business sales within the New England area. Each year, our business brokers handle hundreds of successful sales within these communities. This includes companies of all sizes and in nearly every industry.
Through choosing to operate exclusively within this region, we have gained a superior understanding of the dynamics of this local marketplace. We understand the challenges that you will face in selling your business in these communities.
We also understand that your location is an asset to buyers. We know how to effectively communicate this to potential buyers.
For example, businesses located in the Providence area are strategically close to large cities in both the Connecticut and Massachusetts areas. These areas are prime industry locations.
We are able to effectively communicate this to potential buyers through our exceptional advertising methods. Our ability to utilize our local knowledge represents one of the advantages of selling your business through our Providence branch of Morgan & Westfield.
Connecting You with High-Quality Buyers
One of the most important things that our brokers do is connect you with high-quality buyers. When you are selling a business, it is unlike selling a house, car, or any other product. You are limited to how many buyers there are. You can’t sell to just anyone.
It is absolutely vital to the long-term success of the sale that you only work with high-quality buyers. At Morgan & Westfield, we take steps to ensure that you only work with buyers who are qualified. A buyer must be both financially qualified and operationally qualified, that is, the buyer must have the skills to run the company.
Our intermediaries personally screen all buyers who are interested in your business. We interview them and research their qualifications. Buyers are also asked to sign a non-disclosure agreement.
You can even require that they make a contingency-based offer to ensure their seriousness. Through taking these steps, our brokers connect you with high-quality buyers who are both capable of purchasing and qualified to operate your business.
Why Are High-Quality Buyers So Important?
There are many reasons why it is so important that you only work with qualified buyers. In order for your sale to be successful in the long term, you need to be somewhat selective about whom you sell to.
This is particularly true in cases where the sale is seller-financed. Some level of owner financing is involved in 80% of business sales. If you offer seller financing and sell to a buyer who is not capable of running your company to its potential, they may default on payments.
If your buyer doesn’t repay their loan to you, you may have a legal battle to force them to satisfy their repayment obligations. To settle this debt, a buyer would have to return ownership of the business back to you to help recover your losses.
However, if your buyer fails to repay you and you take your business back, your company may be in a less than desirable condition. It may be in a position that is not profitable, resulting in more losses.
Our business brokers work hard to connect you with buyers who are highly qualified to help prevent something like this from happening to you.
Another reason why selling only to high-quality buyers is important is to be able to command the best possible price for your business. More reputable buyers are able to pay a higher price for your company and will take the sale process seriously.
This can mean that not only will you get a higher price for your business, but it may sell faster. Buyers who are not well-qualified or who are just looking for a good deal will be unwilling to pay higher prices.
More unqualified buyers lengthen the negotiation process in hopes of getting you to agree to a lower price. The short-term and long-term success of your company’s sale depends on the quality of buyer you have for your business.
Our experienced brokers at our Providence, Rhode Island office will ensure that all potential buyers are properly vetted. This will help us find the most qualified buyer we can for your business.
Schedule Your Consultation Today
If you are considering selling your business and are located in the Rhode Island area, we’d love the opportunity to talk with you. Our brokers at Westfield & Morgan’s Providence location can assist you with every aspect of your business’s sale.
We can provide you with the necessary guidance to ensure a successful sale. Our intermediaries will optimize the process for you and ensure that no stone is left unturned. Our advertising methods and vetting procedures will connect you with the highest-quality buyers.
A successful sale for you is our business brokers’ number one priority. We can schedule you for a free initial consultation with one of our professional business brokers. There is no obligation, and we place a high importance on confidentiality.
To learn more about what we can do to successfully sell your business, contact our Providence, Rhode Island office of Morgan & Westfield today. We will answer your questions, explain the sale process, and tell you how we can help you get the results you want.
