Syracuse, New York Business Brokers | M&A Advisors

Business Broker and M&A Services in Syracuse, New York

Why You Need a Professional Business Broker

Most business owners have never gone through the process of selling a business before. For this reason, they find the process to be somewhat intimidating.

The intimidation is compounded when you realize it’s your chance to capitalize on all your hard work. After all, you have invested a lot of effort into growing your business.

Any mistakes in the sales process can inhibit your ability to fully capitalize on the sale of your company. You only have one shot at the sale of your business.

For this reason, it’s crucial that your company is sold successfully to a qualified buyer. You want as few bumps in the road as possible.

Your ability to enjoy the fruits of your labor depend on the successful sale of your business. The only way to ensure this is to sell it with the help of professional assistance. The fact is that companies that are sold by their owners directly generally don’t have favorable outcomes.

We Help Avoid Common Pitfalls in the Sales Process

When business owners sell their businesses, the sales process is usually lengthier than it should be. It is also usually complicated with many avoidable errors.

These sales are usually poorly structured, causing them to end in either default or a legal battle. After all of the hard work you’ve given your company, legal disputes and a flawed sale isn’t how you want it to end.

Working with a team like Morgan & Westfield is the best way to ensure that your company is sold successfully.

Our business brokers will handle all of the technical tasks for you and guide you through the rest. We can provide guidance to ensure that mistakes are avoided.

In addition, we’ll work to bring you higher-quality buyers, help expedite the process, and negotiate a higher price. Your company will not only be sold successfully, but we’ll help you maximize your profits.

Tips for a Successful Sale

Selling a business is unlike selling any other product or service. You can’t just put a sign in the window and hope that someone comes in and purchases your company. This is not how business sales work.

When we facilitate the sale of a business, we do so through utilizing our 100-plus years of combined professional experience. Our business brokers have a plethora of insider knowledge about the sales process.

This helps us to master many aspects of the sales process for you. We pass some of our knowledge down to you in the form of advice and insider tips. Our goal is to help you understand the process as we guide you through the sale.

Here are some of the common tips that our business brokers will help you with:

• Only work with qualified buyers: Most business sales are financed. That means that for the payments to be made, the company must remain successful. For this to happen, your buyer must be qualified to successfully run the business. If they are unqualified and the business fails, they may default on payments.
• Never try to hide anything: Hiding unfavorable information about your company almost always ends badly. Eventually, this information will be discovered. If a buyer discovers hidden secrets, they are unlikely to be as forgiving. If you are more upfront early in the process, they’ll be more understanding.
• Make a list of what is for sale: Never just tell a buyer that “everything is for sale”. This is not usually true because you probably have something that is leased or rented. Inadvertently misrepresenting these items as property you own and are selling will lead to confusion.
• Tell no one about the sale: It is imperative that your sale is completed discreetly. If competitors, suppliers, or customers learn about the sale, it will hurt the value of your company.
• Require confidentiality agreements: Given the importance of a discreet sale, you should require anyone with knowledge of the sale to sign a confidentiality agreement.
• Be ready to train your buyer: Sale terms almost always dictate a training period for the new owner. As the seller, you must be prepared to devote time to training your company’s new owner.
• Be ready to sign a non-compete: Sale terms generally require you to sign a non-compete. This is standard and you should be aware of the terms of this non-compete agreement.
• Be aware of your obligations as a seller: Given the overwhelming nature of the sale, it’s easy for a seller to overlook some of their contractual obligations. You may forget to sign or deliver documents, disclose something, or address some minute detail. Forgetting to complete the smallest task can result in a contractual breach that nullifies the sale.

Local Business Brokers of Syracuse, New York

Our Syracuse office of Morgan & Westfield works tirelessly to assist local business owners who are selling their businesses. We provide support and technical services exclusively to companies within our local communities.

Through placing an emphasis on working with local business owners, we have gained a considerable amount of knowledge about the local marketplace. Our rapport with many local professionals in and around the “Salt City” offers us a bridge to many vital contacts.

This has given our business brokers a unique connection to the Central New York region. Our team is particularly centered on the communities of:

Each year, our brokers facilitate hundreds of business sales within these communities. These sales involve companies in nearly all industries and range in value from $100,000 to $100,000,000.

Our connection and extensive experience in the Central New York area make us uniquely capable of facilitating any business sale in the area.

To learn how we can help with the sale of your business, contact the Syracuse, New York office of Morgan & Westfield today.