At Morgan & Westfield, our top priority is to make selling your business easier for you. Our business brokers provide a variety of services to achieve this goal. Some of the main services that we provide include:
- Sale planning
- Business appraisals
- Creation of an offering memorandum
- Creation and implementation of a confidential marketing campaign
- Buyer screening services
- Negotiation facilitation
- Financing assistance
- Performance of due diligence
- Closing services
Common Seller Questions
Of all the services that our business brokers provide to facilitate business sales, one of the most important is guidance. At Morgan & Westfield, our business brokers understand that the average business owner has never gone through the process of selling a business before and will likely have some questions.
At the San Diego, California, office of Morgan & Westfield, our business brokers will not only guide you through each step in the sales process, we will also be there to answer any questions that you may have. Some of the most common questions that we answer include:
- How long does the sales process take? The length of the sales process can vary significantly based on several factors. Some of these factors include how your business was incorporated, the condition of your company, market conditions, your asking price, and your willingness to finance the sale, among many other factors. However, the sales process will generally take anywhere from six months to a year.
- Will I be asked to sign a non-compete contract? Most buyers will require you to sign a non-compete contract. This is a standard aspect of any business sale, so you should be prepared to sign one if you are planning to sell your business.
- How will my sale be advertised? At Morgan & Westfield, we utilize a strategy of confidential marketing to advertise your business through a variety of business-for-sale websites. The ads that are created will describe your business without exposing any details of your operations that may reveal your business’s identity. They will also prompt interested buyers to contact Morgan & Westfield to learn more.
- When can I tell my employees about the sale? Our business brokers recommend keeping your sale as private as possible. This means not telling anyone — including your employees — about your sale until it is finalized. We also recommend asking anyone who has knowledge of your sale to sign a confidentiality agreement.
- Why should I sell through a broker? There are many advantages to selling your business through the business brokers of Morgan & Westfield. Some of these advantages include selling for a higher price, an expedited sales process, and a confidential sale. And our brokers will even take care of the technical aspects of your sale for you.
- How will an asking price be determined? At Morgan & Westfield, our business brokers provide business appraisal services. We will analyze every aspect of your business and your marketplace. The results of this analysis will be outlined in a formal business valuation report. Through these appraisals, we ensure that your business is priced accurately.
- Should I disclose negative information about my business’s performance? Any quality buyer will perform research into your company. These quality buyers will also understand that every business has its ups and downs. So, yes, you should disclose all information about your business to your buyer. This is especially important because a quality buyer will usually uncover this information during his or her own due diligence process, and it is best if the buyer does not discover this information on his or her own.
- What should I expect in an initial offer? Most buyers will make a low initial offer because he or she is expecting to negotiate with you. It is important that you keep this in mind when you receive offers and not become discouraged by an initial low offer.
Business Brokers of Southern California
At the San Diego, California, office of Morgan & Westfield, we work exclusively with the business owners of Southern California. Our brokers are particularly experienced at working with the business owners in the communities of:
San Diego, Del Mar, Solana Beach, Encinitas, Carlsbad, San Marcos, Escondido, Rancho Santa Fe, Poway, Ramona, El Cajon, Lakeside, Alpine, Stallion Oaks, Descanso, Pine Valley, Morena Village, Boulevard, Campo, Barrett Junction, Dulzura and Chula Vista.
Each year, our brokers facilitate hundreds of sales for companies throughout the San Diego County region of Southern California. These sales include companies in a wide variety of industries, such as tourism, hospitality, travel, manufacturing, maritime, real estate, construction, healthcare, among many others. These companies also range in value from as little as $50,000 to more than $100 million.
Through their extensive experience at facilitating business sales throughout a wide range of industries, our business brokers have developed a unique understanding of what it takes to sell a business in the San Diego County region of Southern California. So if you are considering selling a business here and you want to learn more about how we can facilitate your sale, contact the San Diego, California, office of Morgan & Westfield today.