Advice for Sellers
Our intermediaries can advise you based on our expertise as professional business brokers. This can make the process less intimidating and overwhelming. It will also help you to learn about the things that you can do to make a successful sale more likely. We can show you the steps that you can take to make the process easier.
Some common advice that our business brokers give includes:
- To protect the value of your company and increase the chances of a successful sale, sell your business as discreetly as possible.
- Utilize non-disclosure agreements to prevent costly information leaks.
- Understand the negotiation process and remain objective.
- While your company is being sold, continue to run it normally. Do not allow inventory levels to dip or neglect relationships; these things can hurt your company’s value.
- Understand that your company’s value is market dependent. Because appraisals are only estimates, you must remain flexible with the way you view your company’s value.
- Be prepared to sign a non-compete contract, as these are common clauses in business sales.
- Be prepared to train the company’s new ownership, as this is a common clause in business sales.
- Be as accommodating as possible to potential buyers. This will help you to build a good rapport and make negotiations easier.
- To prevent confusion, remove anything that is not part of the sale of your business’s property.
- Provide records that can prove your business’s track record to potential buyers.
- Never try to hide unfavorable information from buyers. Buyers will research your business and if they learn about this information on their own, they will be less forgiving.
Business Brokerage Services
Our technical services reduce your responsibilities and focus on the finer details of the sale process. Our expertise enables us to offer you the following at our Springfield, Massachusetts branch:
- Exit planning services
- Business appraisals
- Creation of offering documents
- Design and implementation of a customized confidential marketing campaign
- Screening of potential buyers
- Facilitation of the negotiation process
- Help with structuring the sale
- Assistance with securing funding for the sale
- Closing services
- Referrals to industry professionals (Lawyers, Accountants, Bankers, and Tax Professionals)
Business Brokers of Springfield, Massachusetts
At the Springfield, Massachusetts office of Morgan & Westfield, we provide our brokerage services to the business owners of our local Western Massachusetts region. Our brokers place a particular emphasis on serving the communities that makeup Hampden County, Hampshire County, and Northern Connecticut.
These communities include:
- Hampden County: Springfield, West Springfield, East Longmeadow, Agawam, Hampden, Wilbraham, Ludlow, Monson, Palmer, Chicopee, Westfield, Southwick, and Holyoke.
- Hampshire County: Easthampton, Southampton, Westhampton, Northampton, Huntington, South Hadley, Hadley, Granby, Belchertown, Ware, Bondsville, Williamsburg, Pelham, Hatfield, and Amherst.
- Northern Connecticut: Enfield, Granby, East Granby, Windsor Locks, East Windsor, Ellington, South Windsor, and Windsor.
Through operating exclusively within the Pioneer Valley area, our brokers have developed a unique understanding of this marketplace. We understand the benefits of this location and how to demonstrate these benefits to potential buyers.
We also have an understanding of the challenges associated with running and selling a business in this area, and how best to overcome those obstacles. By operating in this region, we have established relationships with many other industry professionals. Their input can prove beneficial as you go through the sale process.
The knowledge and resources that our business brokers have accumulated enable us to facilitate hundreds of business sales every year. We have developed a system for managing business sales that has been proven to be effective. It can be effective for you as well.
To learn more about how our team of professionals at Morgan & Westfield can help you to sell your business, contact our Springfield, Massachusetts office today.