Morgan & Westfield - Deal Talk

Miracle Method Success Story (Short)

We treat all customers the same - small or large job - and return all phone calls and emails within 24 hours, excluding the weekends.

Miracle Method Done Deal

Sunset Screen Printing Success Story

When you need to get things done, doing business in your local area can be  convenient and practical, particularly when you need to meet with someone face-to-face, like when you need to see a doctor, take your car to the mechanic, or get your clothes dry-cleaned, for example.  But think about this: If you’re a business owner who is trying sell your business while doing your best to run your operation at the same time, meeting face-to-face with a business broker may not be convenient or practical. Morgan & Westfield knows what it takes to sell your business wherever you are, but they also won’t get in your way with unnecessary face-to-face meetings, and when you’re busy, that’s a good thing. 

Morgan & Westfield - No Face to Face Meeting Required

Miracle Method of Campbell, California

Fish Lake Market's Success Story

Many unexpected events can happen during the process of selling a business. For Diane Robbins, one of them was having a prospective buyer within four short days of listing her Miracle Method franchise in Ludlow, Massachusetts for sale on the market. The “short” of this story is this first prospective buyer ended up being the new owner of Diane’s business, which specializes in resurfacing and refinishing countertops, bathtubs and tiles, allowing customers to significantly save on the costs of replacing them. As fate would have it, the buyer was a customer who had his bathtub resurfaced 12 years ago. “He loves his tub, and that's where he knew when he was looking for a business that this was the right direction, that it was a nice small business that he could get into, that the product was reliable,” Diane said. The “long” of this story is that a considerable span of time passed between the first contact with the buyer and the close of the transaction. Within that duration, Diane experienced emotional highs and lows. “It took one year for this whole process with the same buyer [who contacted us] within four days. We went through an emotional roller coaster,” Diane said.

This Seller Found The Right Buyer In 4 Days, But Took 1 Year To Close The Deal. Here’s Why.

As ready as they might be for their PuroClean franchise’s sale mentally and financially, Ed and Sonia Ketchoyian soon found out that preparation is multifaceted and that there is one aspect in selling that they were not ready to handle—their emotions. “This is more than just a business transaction, so there are certain emotions that came to play at the end that I wasn't quite expecting,” Ed said of their business, which specializes in emergency restoration services for residential and commercial properties damaged by flood, fire, and mold.  Having run the business for over eight years, Ed explained that an owner is bound to have strong feelings when exiting a business he has put a lot of time and effort into for years, regardless of how the business has been doing. “Once you get into a business as an owner, your emotions become involved because it's just the nature of small business ownership. You end up putting a lot of yourself into it,” Ed said. Breaking the news of the sale to the employees became especially tough for Ed because he could not reveal that they will be working for a new owner until they were certain that the deal will push through. “That was difficult. We were working with the owner for months and we couldn't reveal anything that was going on... [until] we were absolutely certain the deal was going to happen,” Ed recalled. Less than a week before the closing date, the couple told their employees, who did not receive the news positively. Ed and Sonia had to assuage their fears and reassure them that the new owner did not want to change anything and that they were not going to lose their jobs. “Everybody was very surprised. ‘Shocked’ is a strong word but they really had no idea that we were in the process of selling… Change, in general, is not a welcome thing,” Ed said.

Selling A Company: It’s Not Just Business, It’s Personal

Are you looking to sell or buy a business with less than $50 million in annual revenue? At Deal Talk we bring you exclusive interviews with experts in business sales, valuations, mergers and acquisitions and more. We talk to the most experienced professionals in the brokerage industry to uncover their secrets. Each podcast is packed with helpful, practical information on topics such as growing a business, drawing up exit strategies and preparing a business for sale. Brought to you by Morgan & Westfield (www.morganandwestfield.com), a nationwide leader in business sales and appraisals. You can access a full transcription of all Deal Talk podcasts at: www.morganandwestfield.com/deal-talk

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Morgan & Westfield - Deal Talk

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