Murphy Business Sales - NY Region

05/26/2022

Selling a business doesn't always go as planned. Maybe the business doesn't have enough positive cash flow. Or maybe legal, regulatory, or health issues force the business to close its doors.

However, closed businesses can still create opportunities for buyers and sellers: https://ecs.page.link/waB59

Opportunities for business buyers and sellers look different during a pandemic, but they are still present. Here is how to buy or sell a closed business.

05/25/2022

𝘊𝘢𝘯 𝘺𝘰𝘶 𝘣𝘶𝘺 𝘰𝘳 𝘴𝘦𝘭𝘭 𝘢 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘸𝘪𝘵𝘩𝘰𝘶𝘵 𝘢 𝘣𝘶𝘴𝘪𝘯𝘦𝘴𝘴 𝘣𝘳𝘰𝘬𝘦𝘳? Yes.

𝘚𝘩𝘰𝘶𝘭𝘥 𝘺𝘰𝘶? That depends.

➡️ Do you want to find a business that fits your budget, personal strengths and expectations?
➡️ If a deal wasn't in your favor, would you want to know before making the decision to purchase a business?
➡️ As a seller, do you want to w**d out prospective buyers that lack the resources or experience to actually run your business?
➡️ Would you prefer to have someone else handle the tedious paperwork and administrative tasks?

If you answered yes to any of these questions, it's worth talking to a business broker. Contact me today to learn how I can help: https://ecs.page.link/eiTdt

05/20/2022

If you've been timing the sale of your business, take these factors into consideration.

The right time to go to market is when:

1️⃣ You’ve built a business with a high level of transferable value, which makes your business marketable.
2️⃣ The mergers and acquisitions market cycle is in a seller’s market and delivering high multiples.

Read the full CEOWORLD Magazine article here: https://ceoworld.biz/2022/05/04/the-million-dollar-question-when-should-i-sell-my-business/

Have you ever wondered, “When should I sell my business?” Business owners often peg the timing of their exit to some milestone in their life or the life of the business itself. Perhaps their goal is to sell the business when they reach retirement age (whatever age that may be), or when they land...

05/19/2022

Do you know the 6 rules of thumb for business valuation? What about the common business valuation methods?

Check out this helpful article: https://ecs.page.link/eucfZ

Calculate the value of your business using these tips. There are many methods for business valuation but the goal is always to sell at the right price.

05/12/2022

Buying a company requires a little 𝗶𝗻𝘁𝗿𝗼𝘀𝗽𝗲𝗰𝘁𝗶𝗼𝗻.

Before you dive into the business listings, first ask yourself:

🖊️ What experience, passion, and skills do you hope to leverage in your new endeavor?
🖊️ What industries excite you and why?
🖊️ What business types are you most comfortable with based on your professional history?

Once you've answered these questions, you'll know how to better evaluate potential opportunities! I can also help guide you in the right direction: https://news.murphybusinessny.com/

05/11/2022

Many business owners have strong attachments to their businesses. But one of the things we see most often when it's time to sell is owners overvaluing their businesses. In fact, it's one of the key reasons sales don't go through.

Here are steps a business owner can take to set aside the attachment and avoid turning away buyers: https://ecs.page.link/2h45D

Buyers are not looking to buy your business if it requires they work 80 hours a week.

05/06/2022

Whether you’re running a successful business or thinking of buying one, it’s important to understand the financial documents, including the balance sheet.

Here are a few pointers to guide you:

1️⃣ The first part of the balance sheet tells you what resources the business has. Buyers can see exactly what they’re buying, and sellers can gauge the strength of their company.

2️⃣ The next part of the balance sheet shows liabilities, or the debts the business owes to others.

3️⃣ When you subtract liabilities from assets, you get the owner’s equity, or book value, of the company.

Need help interpreting the balance sheet as a buyer or seller? Reach out and let’s talk: https://ecs.page.link/eiTdt

04/29/2022

What do you do if there's a mistake on your business taxes? https://ecs.page.link/8cX1C

"For small business owners, preparing an income tax return is far from simple, which can increase the chances of making a mistake." And tax mistakes can be costly during the sale of your business.

04/28/2022

The short answer: Brokerage fees tend to run between 5 and 10 percent of the selling price of a business.

If you're a first-time buyer, think of the broker's commission as a kind of insurance. Buyers working with a broker will have access to objective advice that can help them make decisions with confidence, and sellers gain peace of mind that their business is being properly valued during negotiations.

04/20/2022

If you’re buying a business, don’t underestimate the importance of a non-compete agreement.

This type of agreement is beneficial for the future security of your business—it guarantees the seller won’t compete with you for a set period of time.

Other agreements worth considering: ‘No solicit’ agreements, which prevent the seller from soliciting your customers, and ‘no recruit’ agreements, which prevent them from poaching their former employees.

Need help navigating the deal? Contact me today! https://ecs.page.link/eiTdt

04/14/2022

Are these four headwinds on your radar? https://ecs.page.link/gSw8y

“We have reached an inflection point,” Andrew Zavodney writes. “We can choose to evolve, carefully striking a balance between innovation and margins, or choose complacency, watching operational costs tick upward and diminish earnings. So for those looking to spark positive change across your o...

04/12/2022

𝗛𝗼𝘄 𝗮𝗿𝗲 𝘆𝗼𝘂𝗿 𝗻𝗲𝗴𝗼𝘁𝗶𝗮𝘁𝗶𝗼𝗻 𝘀𝗸𝗶𝗹𝗹𝘀?

Before you begin the process of buying an established business, it’s a good idea to brush up on your skills.

⭐ Consider the whole deal, not just the price tag. By negotiating terms in addition to price, you and the seller can come to a compromise without sacrificing your top priorities.
⭐ Be prepared to make concessions. And make them over time, not in one go, so you can stretch their potential for further appreciation.
⭐ Don’t be afraid to fire first. Making the first offer gives you a starting point from which future negotiations will revolve.
⭐ Avoid letting frustration cloud your judgment. Keep a clear mind and stay realistic about the possibility of having to walk away.

Need help navigating the process? Contact me today! https://ecs.page.link/eiTdt