Murphy Business & Financial Services Names Paul Gorny “Salesperson of the Year”
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CLEARWATER, FL – (January 6, 2009) – Paul Gorny joined Murphy in 2005as a business broker for the Murphy Business & Financial Services, Inc. branch office located in Clearwater, FL. His dedication to Murphy Business and his clients have earned him the prestigious “Salesperson of the Year” award for 2008.
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Gorny has over 30 years of marketing and managing experience and more than 8 years experience in business sales and acquisitions. This has given him the tools to succeed with Murphy Business; he has been in the “Multi-Million Dollar Sales Club”-2007 and 2008, received the “Most Transactions Sold” award-2007 and 2008 and “Salesperson of the Year” award-2008 in recognition for achieving the highest level of sales in the company for the year.
Paul earned his bachelor’s degree in Business Administration from The University of Miami, Coral Gables. He is a licensed Florida real estate agent and an active member of his local community.
Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, accounting and franchise consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jennifer Mugnier
Murphy Business & Financial Corporation
727.725.8090
JMugnier@murphybusiness.com
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Murphy Business & Financial Corp. Announces 100th Franchisee
Tampa, Florida – November 25, 2008 ––Murphy Business & Financial Corporation (www.murphybusiness.com) marks a milestone in the business brokerage firm’s growth with the signing of the 100th franchisee, a husband and wife team in Glendale/Peoria, Ariz., Lynn and Wendi Miller.
Roger Murphy, president and CEO of Murphy Business, decided in late 2006 – after building a successful business brokerage operation in Florida – to apply his business model nationally by franchising its methodology.
“We are ahead of schedule on our anticipated growth,” Murphy says. “Our goal for the next three years is to hit 250 franchises, and then in five years we hope to be between 400 and 500.”
Murphy Business’ franchise growth in just two years outpaces that of most franchise organizations. According to franchising researcher Frandata, (www.frandata.com) only 22 percent of all the franchise companies in the U.S. have more than 100 franchisees regardless of how long the franchisor has been in operation.
The firm’s growth didn’t go unnoticed this year as Murphy Business earned a spot as one of Entrepreneur magazine’s 50 “Top New Franchises” and Franchise Business Review’s “Best in Category” for business services and “One of the Top 50 Franchise Opportunities” in the annual Franchisee Satisfaction Awards.
Murphy attributes the growth to a mix of referrals from existing franchisees, regional developers who are adding franchisees in their markets and an eight-member Advisory Board of Directors comprised of leaders in the business brokerage industry.
Murphy’s franchise organization now includes 100 single unit franchisees supported by 21 regional franchisees. These regional franchisees, all with significant previous experience as business brokers, have been hand-picked by Murphy for their ability to motivate, coach and supervise the local franchisees.
Unique to the business brokerage industry, Murphy franchisees have direct access to corporate-level experts in related fields including commercial real estate, mergers & acquisitions, business valuations, machinery & equipment appraisal, machinery and equipment brokerage and business consulting.
The Millers, who worked with Regional Developers Frank and Lisa Scivally to purchase the 100th franchise, were attracted to the good value proposition: the potential for high earnings in a professional service, with no investment required in equipment or support staff.
“We look forward to helping small to mid-sized business owners grow and plan their exit strategies,” says Lynn Miller. “And unlike our previous positions in a large corporation where it was hard to see the impact our work had on the bottom line, we can see the results of our efforts paying off quickly.”
“As Murphy business brokers we can also help people find their lives after corporate America,” adds Wendi Miller. “With a little consultation and assistance, there can be great opportunities for success in business ownership.”
The Millers, who earned doctoral degrees in Agricultural Economics from the University of Illinois, both worked as risk management executives and econometricians with American Express for many years prior to becoming Murphy Business franchisees.
About Murphy Business & Financial Services, Inc.
A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers, Society of Business Analysts, the Institute of Certified Business Counselors and International Business Brokers Association, Murphy Business (www.murphybusiness.com) is one of the largest business brokerage franchises in the U.S. with 100 locations and more than 4,000 transactions on record. Services include business sales, franchise sales, buyer searches, M&A, valuation, business consulting, commercial realty, and machinery and equipment appraisal and brokerage.
MEDIA CONTACT: Stefanie Phillips
RFB Communications Group
813.259.0345
sphillips@rfbcommunications.com
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Business Boom-ing as Texans in their 50s and 60s choose entrepreneurship over corporate America
Dallas, Texas – March 7, 2008 –– The headlines may be warning of a possible recession. But in North Texas, business is Boom-ing.
Baby Boomers who have been laid off, forced to take early retirement, or not given the promotions and raises they deserve are choosing entrepreneurship in record numbers. Rather than searching for a new job in their 50s or 60s, these pioneers are seeking out franchises and small businesses to buy and run, said Richard Gadberry, CEO of North and South Texas for Murphy Business & Financial Services.
“The Baby Boom generation has a strong work ethic, enjoys the challenges of the free market and desires to control their own destiny. However, experienced businesspeople in their 50s have had enough of corporate America,” Gadberry said. “As a result, we’re seeing hundreds of Baby Boomers who have been bitten by the entrepreneurship bug and are looking for an opportunity to succeed on their own terms.”
Gadberry has seen this trend become stronger among his clients, franchisees and agents alike. Murphy is the fastest-growing business broker and mergers and acquisition franchise in the country, with almost 80 new franchises in 2007, their first year as a franchise. The company’s fast growth has been greatly driven by their consultative approach and value-added services such as valuations, business consulting, commercial realty, small business accounting and tax and payroll services. In addition, franchise owners are finding the company’s extensive back-end support and training very appealing.
Since launching the company’s North Texas regional office in late 2006, Gadberry has added seven franchisees, six agents and five executives in the area – all of them Baby Boomers. According to a survey conducted by Franchise Business Review in November 2007, among Murphy franchise owners nationwide, 36 percent are between 45 and 54 years old, and another 39 percent are between 55 and 64. More than 91 percent have more than 15 years of business experience.
“Unlike most franchises, our selection process isn’t simply based on an applicant’s ability to pay our franchise fee. Since the quality of our services is directly correlated to the quality of our franchise owners, we only bring the best applicants on board – those who have the highest likelihood to succeed,” Gadberry said. “To succeed, applicants must demonstrate an entrepreneurial spirit, well-rounded business experience and a willingness to be coached, in addition to the more typical qualifications.”
The ideal Murphy franchisee has experience as a business owner or high-level executive and is between the ages of 36 and 65. The opportunity is particularly appealing thanks to a low franchise fee of $36,000, enabling Baby Boomers to start up their own businesses without necessarily cashing in critical retirement accounts.
“It’s not uncommon for senior executives to take more than 12 months to find a position in Corporate America, particularly one that doesn’t require relocating, 60+ hour work weeks or extensive travel,” said Ken Eckel. All the while, their retirement and savings accounts are dwindling. As a Murphy Business franchise owner, I have more control of my financial future and quality of life.”
“Baby Boomers have an incredibly high level of experience and expertise to offer, and they simply are not appreciated enough in the corporate world,” Gadberry said. “By working with Murphy Business, they can leverage the experience they already have, plus acquire new skills with the training we provide. And, our support services help them navigate their business transactions.”
Texas is one of Murphy’s fastest-growing regions and accounted for nearly 10 percent of the company’s growth last year. Ultimately, Gadberry would like to establish 22 franchises in the Dallas-Fort Worth area by 2010. The North Texas market as a whole will include about 40 franchises, including those in markets such as Tyler, Longview, Amarillo, Wichita Falls and Waco. Another 40 will be sold in South Texas markets, including Houston, Corpus Christi, Beaumont, College Station and Victoria.
When fully developed, the company’s North and South Texas regions likely will conduct between 600 and 800 transactions per year with an average value of $1.2 million per transaction, Gadberry said.
About Murphy Business & Financial Services, Inc.
Based in Clearwater, Fla., Murphy Business & Financial Services (www.murphybusiness.com) is the largest business brokerage firm in the United States. Murphy sells approximately 350 businesses each year. Services include business sales, mergers and acquisitions, valuation, business consulting, commercial realty, small business accounting, tax and payroll services, and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group
813.259.0345
jmagri@rfbcommunications.com
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Murphy Business & Financial Services Recognizes Top Brokers for the Year
CLEARWATER, Fla. (Jan. 8, 2007) – Murphy Business & Financial Services, the largest business brokerage firm in the United States, has announced its top business brokers for 2006.
Murphy named Michael Norman “Salesperson of the Year” for topping 2006 sales within the company and being in the top 5 percent of the industry. Wayne Quilitz was awarded “Broker of the Year,” a recognition given to the broker who demonstrates the highest level of professionalism and ethics.
“We are so pleased to recognize Michael and Wayne for their performance,” says Roger Murphy, president. “As the numbers indicate, Michael is an outstanding performer, not only for Murphy but within the industry; and Wayne consistently demonstrates the level of ethics and professionalism that we believe distinguishes the Company within the business brokerage community.”
Celine Dufresne, Lakeland; Darlene Pane, Spring Hill; and Sandy Windham, Clearwater, were recognized for “Most Number of New Listings.” Along with John Cretcher of Lakeland, Pane and Dufresne were also acknowledged for “Most Number of Transactions Sold.”
The “Highest Commission Earned” awards went to the top six producers for the year with combined sales of more than $30 million in business. They included Jim Dunmire, Clearwater; Sherm Ershowsky, Cooper City; and Edwin Pena, Boca Raton; as well as Dufresne and Pane.
Peter Lohage, broker/owner of the Charlotte County branch, received the Rookie of the Year Award.” He was recognized as the best first-year broker based on listings and closed transactions.
The “Multi-Million Dollar Club” represents the top 19 producers within the company who are also ranked in the top 40 percent of the industry. The recipients of this award included, by city:
- Boca Raton: Edwin Pena
- Clearwater: Jim Dunmire, Dan Gore, Len Russek, Jim Sinclair, Fred Walker, Sandy Windham
- Cooper City: Sherm Ershowsky
- Fort Lauderdale: Jim Williams
- Kissimmee: Shaun Thorton
- Lakeland: John Cretcher, Celine Dufresne, Craig Fetherman
- Miami: Carlos Jaramillo
- Naples: Michael Norman
- Port Charlotte: Peter Lohage
- Spring Hill: Gary Burnham, Darlene Pane
Based in Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is the largest business brokerage firm in the United States. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, small business accounting, tax and payroll services and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813.259.0345
jmagri@rfbcommunications.com
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Murphy Business Promotes Kathleen Walsh and Lee Ann Grammer
TAMPA, Fla. – (June 11, 2007) – Murphy Business and Financial Corporation announces the promotions of Kathleen Walsh to vice president of administration and Lee Ann Grammer to corporate controller.
Walsh has been with Murphy Business for five years, where she was part of the team that helped expand the Company to a national presence. She most recently served as the company’s office manager. Previously, she held positions in office management and administration in various industries including construction and retail. Walsh earned her bachelor’s degree in communications from Ramapo College of New Jersey.
Grammer came to Murphy in January 2007 as the company’s accounting manager before being promoted to corporate controller. Previously a staff accountant at Parkview Homes, she has also held bookkeeping positions at various companies throughout the United States. Grammer attended Brookdale College in New Jersey, and continues her education at the University of Phoenix, where she is working on a bachelor’s degree in accounting.
Based in Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is one of the largest business brokerage firms in the Southeast. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage networks in the world and has completed more than 2,500 transactions.
www.murphyfranchise.com ) offers a proven methodology, core administrative support, business development and direct marketing to assist its franchisees become successful, and expects to have 100 franchisees by the end of 2007.
CONTACT: Hannah Langford
RFB Communications Group, Inc.
(813) 259-0345
hlangford@rfbcommunications.com
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Murphy Business Names Ron Randolph National Franchise Sales Manager
CLEARWATER, Fla. – (Jan. 31, 2007) – Ron Randolph has been named national franchise sales manager for Murphy Business & Financial Corporation. He serves a dual role overseeing all franchising agreements for the business brokerage firm’s franchised offices, and heading the consulting practice that advises clients on purchasing non-Murphy franchises.
Murphy’s franchise consultation provides guidance to entrepreneurs who are interested in owning their own business, but do not want to purchase an existing business on their own. It is the only brokerage firm in Florida trained to qualify and profile prospects, matching them to appropriate franchisors.
For the firm’s franchisees, he will also submit and receive all legally binding Uniform Franchise Offering Circular (UFOC) contracts between franchisees and regional directors.
Prior to joining Murphy, Randolph was national sales manager for Advance Controls in Bradenton, Fla., successfully driving sales from $10 million to $14 million within six years. Previously, Randolph held positions as Central Florida sales manager for McGregor Swire Air Services in Tampa; general manager of Gateway Cargo Services in Detroit; and district cargo manager for British Airways, also in Detroit.
Randolph earned a bachelor’s degree in business administration from Macomb College in Michigan. He is a member of the National Association of Independent Fee Appraisers (NAIFA) and a past president of the Detroit Air Cargo Association.
Based in Clearwater, Fla., Murphy Business & Financial Corporation. (www.murphybusiness.com) is the largest business brokerage firm in the United States with 30 offices. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, small business accounting, tax and payroll services and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813.259.0345
jmagri@rfbcommunications.com
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Murphy Business Expands Office Space, Makes Room for Company Growth
CLEARWATER, Fla. – (Feb. 14, 2007) – Murphy Business & Financial Corporation announced that is has expanded its office space at 513 North Belcher Road in Clearwater, Fla., in support of its growing service lines and the addition of its new franchise department.
Murphy Business previously occupied 5,000 square feet of a one-story, standalone contemporary office building. Murphy Business now occupies the entire space of the 7,500 square-foot building. The new space has been remodeled for offices, conference rooms and mailroom facilities. A new training room has also been created for regularly scheduled franchise training sessions.
“Our expanded facilities gives us the space to hire the necessary support staff, including computer data entry and direct mail staff, to handle the volume of work for our new franchise department, as well as our expanding commercial real estate department,” says Roger Murphy, president of Murphy Business.
Clearwater, Fla., Murphy Business & Financial Corporation. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, small business accounting, tax and payroll services and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813.259.0345
jmagri@rfbcommunications.com
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Getting Your Business Ready to Sell
CLEARWATER, Fla. – (June 6, 2006) – Selling a business can be a difficult decision, one often driven by personal considerations rather than market conditions. However, there are certain key indicators that can help owners determine the right time to sell.
“More potential buyers are available now because Corporate America is downsizing 40 to 50-year-old executives and forcing them into early retirement,” says Roger Murphy, president of Murphy Business & Financial Services, the largest business brokerage firm in the United States with 30 offices and 60 agents. “There is no safety strap on the corporate ladder. So, many are planning their own exit strategy and leaving the corporate world to become their own boss. And the availability of relatively low interest rates is making it easier for these buyers to get financing.”
Other factors leading owners to sell their businesses include insufficient capital to grow the business, burnout, receiving an unsolicited offer from a buyer or the desire to achieve estate liquidity.
“The best time to sell a business is when the business is doing well and the owner does not need to sell,” said Murphy. “In that scenario, owners do not need to move quickly and can set their own terms, rather than making any decisions under pressure. If there are no heirs to consider, we recommend they begin thinking about selling at least a year or two in advance of retirement.”
Murphy suggests the following tips to help owners get their businesses ready to sell, noting that discretion is important in keeping plans confidential, both from employee and competitor points of view:
- Organize your finances first. Make sure all financial records are in order and that all expenses and revenues are included in your accounting records.
- Make sure your building and equipment are in good shape.
- Take stock of your staff. You should have the proper staff and management in place so you can phase out of day-to-day operations. Your ultimate goal is to become less essential to the day-to-day operations so that the transition from one owner to the next is as smooth as possible for employees, customers and vendors.
- Determine your business’s market value. This is the most critical step. A broker can help determine the market value and usually determine that the business is worth two to four times your discretionary cash flow. Other things brokers look at to determine the value include how good your staff is, condition of assets, quality of customer base, whether the business is growing or downsizing, the business’s age and reputation. This information will provide the basis for an improvement or growth plan if your business is appraised for the amount you need for retirement.
- Be realistic when determining a sale price. With the availability of Internet research and other market value databases, buyers generally do their homework and are knowledgeable about realistic asking prices. As a result, they’re unlikely to pay too much for a business. However, sellers often tend to overvalue their own business, a condition that may delay a transaction with an otherwise ready buyer. Consider seeking a professional business valuation to ensure you know the true value of your business.
- Seek tax and legal advice before selling. Tax advice is particularly important, as you will not be able to keep all of the money from the sale of your business. In some situations, the taxes can amount to as much as 50 percent. Having the sale properly structured, whether as stock or an asset sale, can minimize taxes.
- Negotiate with more than one buyer. With more than one prospective buyer you can negotiate from a position of strength and mix and match some features of each offer. Try to secure the sale, but keep the business on the market until closing.
- Don’t “nitpick” in negotiations. Buyers and sellers sometimes argue over details that aren’t critical. Compromise makes for a more successful process.
- Evaluate the buyers’ personality and skills. Sellers often do some of the financing of the sale themselves, so you should determine if the buyer can be successful running your company. Also, be honest with your buyer about what it takes to run your company.
- Don’t stop running the business during the sale process. It’s easy to mentally “check out” of the business when you get an interested seller. Unfortunately, this can make your business regress if the sale falls through. In other cases, the sale may be contingent upon the business continuing at a certain revenue level. In addition, don’t make any major purchases without letting the potential buyer know. Until the closing, focus on your business and let the business broker focus on the sale.
“A business broker can anticipate what needs to be done throughout the process and keep everyone moving on a timetable to resolve issues,” says Murphy. “Buyers and sellers don’t negotiate well face to face, and a broker can act as a buffer during those negotiations.”
“The bottom line is that selling a business is a major step in someone’s life,” says Murphy. “The way that a deal is structured can greatly impact the amount of taxes that sellers must pay. Sellers should always consider making the best deal that nets them the highest amount of money after taxes.”
Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, small business accounting, tax and payroll services and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group
813.259.0345
jmagri@rfbcommunications.com
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Getting Your Business Ready to Sell
CLEARWATER, Fla. – (June 6, 2006) – Selling a business can be a difficult decision, one often driven by personal considerations rather than market conditions. However, there are certain key indicators that can help owners determine the right time to sell.
“More potential buyers are available now because Corporate America is downsizing 40 to 50-year-old executives and forcing them into early retirement,” says Roger Murphy, president of Murphy Business & Financial Services, the largest business brokerage firm in the United States with 30 offices and 60 agents. “There is no safety strap on the corporate ladder. So, many are planning their own exit strategy and leaving the corporate world to become their own boss. And the availability of relatively low interest rates is making it easier for these buyers to get financing.”
Other factors leading owners to sell their businesses include insufficient capital to grow the business, burnout, receiving an unsolicited offer from a buyer or the desire to achieve estate liquidity.
“The best time to sell a business is when the business is doing well and the owner does not need to sell,” said Murphy. “In that scenario, owners do not need to move quickly and can set their own terms, rather than making any decisions under pressure. If there are no heirs to consider, we recommend they begin thinking about selling at least a year or two in advance of retirement.”
Murphy suggests the following tips to help owners get their businesses ready to sell, noting that discretion is important in keeping plans confidential, both from employee and competitor points of view:
- Organize your finances first. Make sure all financial records are in order and that all expenses and revenues are included in your accounting records.
- Make sure your building and equipment are in good shape.
- Take stock of your staff. You should have the proper staff and management in place so you can phase out of day-to-day operations. Your ultimate goal is to become less essential to the day-to-day operations so that the transition from one owner to the next is as smooth as possible for employees, customers and vendors.
- Determine your business’s market value. This is the most critical step. A broker can help determine the market value and usually determine that the business is worth two to four times your discretionary cash flow. Other things brokers look at to determine the value include how good your staff is, condition of assets, quality of customer base, whether the business is growing or downsizing, the business’s age and reputation. This information will provide the basis for an improvement or growth plan if your business is appraised for the amount you need for retirement.
- Be realistic when determining a sale price. With the availability of Internet research and other market value databases, buyers generally do their homework and are knowledgeable about realistic asking prices. As a result, they’re unlikely to pay too much for a business. However, sellers often tend to overvalue their own business, a condition that may delay a transaction with an otherwise ready buyer. Consider seeking a professional business valuation to ensure you know the true value of your business.
- Seek tax and legal advice before selling. Tax advice is particularly important, as you will not be able to keep all of the money from the sale of your business. In some situations, the taxes can amount to as much as 50 percent. Having the sale properly structured, whether as stock or an asset sale, can minimize taxes.
- Negotiate with more than one buyer. With more than one prospective buyer you can negotiate from a position of strength and mix and match some features of each offer. Try to secure the sale, but keep the business on the market until closing.
- Don’t “nitpick” in negotiations. Buyers and sellers sometimes argue over details that aren’t critical. Compromise makes for a more successful process.
- Evaluate the buyers’ personality and skills. Sellers often do some of the financing of the sale themselves, so you should determine if the buyer can be successful running your company. Also, be honest with your buyer about what it takes to run your company.
- Don’t stop running the business during the sale process. It’s easy to mentally “check out” of the business when you get an interested seller. Unfortunately, this can make your business regress if the sale falls through. In other cases, the sale may be contingent upon the business continuing at a certain revenue level. In addition, don’t make any major purchases without letting the potential buyer know. Until the closing, focus on your business and let the business broker focus on the sale.
“A business broker can anticipate what needs to be done throughout the process and keep everyone moving on a timetable to resolve issues,” says Murphy. “Buyers and sellers don’t negotiate well face to face, and a broker can act as a buffer during those negotiations.”
“The bottom line is that selling a business is a major step in someone’s life,” says Murphy. “The way that a deal is structured can greatly impact the amount of taxes that sellers must pay. Sellers should always consider making the best deal that nets them the highest amount of money after taxes.”
Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, small business accounting, tax and payroll services and new franchise sales. A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group
813.259.0345
jmagri@rfbcommunications.com
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Murphy Business Brokers Sale of Cart Land of Lakeland
LAKELAND, Fla. – (May 31, 2006) – The Lakeland office of Murphy Business & Financial Services brokered a $1.5 million transaction between Robert Riley, a prominent local buyer, and Cart Land of Lakeland, Inc., the only authorized Club Car Golf Cart dealership in Polk County. Cart Land is also one of only three dealerships in Florida having a “Tee-Time” agreement to manage, service, and transport rental Club Car fleets statewide.
Cart Land of Lakeland has nearly doubled since 2003 when the former owners, Robert and Inez Hosford, expanded purchasing the two adjacent lots. In 2006, Cart Land has grown 27 percent with sales from Tee-Time alone anticipated to add $250,000 directly and even more indirectly with related services.
The buyer, Robert Riley, is a former managing owner of Miracle Toyota where he was recognized annually by Toyota for one of the top Toyota dealerships in the U.S.
“Golf carts are not limited to golf courses; they also answer a mobility need in many retirement communities. As more and more baby boomers reach retirement age the need for quality carts, service and customization is growing exponentially in Polk County,” said Celine Dufresne, broker and owner of Murphy Business – Lakeland.
By conducting a thorough analysis and valuation of the business and assisting the buyer with SBA financing, Murphy Business played an integral role in structuring the transaction to optimize the net proceeds to the seller while ensuring the best possible conditions for the buyer.
Since its opening in Polk County in 2000, Murphy Business & Financial Services has sold more Polk County businesses than all other business brokers combined and ranks among the top performers across Florida. Additionally, Dufresne’s closing rate is three times higher than the industry average, due in part to a solid financial, business and sales background.
Based in Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is the largest business brokerage firm in the United States with 30 offices in Florida that sell approximately 350 businesses each year and have completed more than 3,000 transactions. Murphy Business offers clients access to the largest business brokerage network in the world.
CONTACT: Stefanie Phillips
RFB Communications Group, Inc.
(813) 259-0345
sphillips@rfbcommunications.com
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Murphy Business & Financial Services Names Jim Dunmire “Salesperson of the Year”
CLEARWATER, Fla. – (April 26, 2006) – Dunmire is a business broker for Murphy, responsible for consulting with buyers and sellers during the selling and acquisitions process. He also works with accountants and attorneys to ensure a successful ownership transition.
Dunmire joined Murphy in 2002 and has since been named top producer in 2003 and 2005. Previously, Dunmire held positions as owner and operator of a commercial printing company, and division sales manager for an international consumer products company.
Dunmire earned his bachelor’s degree in business administration with a minor in economics from Minnesota State University-Mankato. He is a licensed Florida real estate agent and a member of Business Brokers of Florida and the Printers Association of Florida.
Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, accounting and franchise consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
MEDIA CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813/259-0345
jmagri@rfbcommunications.com
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New Branch of Murphy Business & Financial Services to Open in Charlotte County
PORT CHARLOTTE, Fla. – (March 15, 2006) – Peter Lohage has opened a new branch of Murphy Business & Financial Services in Charlotte County, becoming a broker/owner for the largest business brokerage firm in Florida and one of the largest in the Southeast.
Lohage brings 20 years of experience in company turnarounds, acquisitions, marketing, financial management and controlling for companies which manufacture or distribute products ranging from automotive, furniture, construction to medical consumables and device products.
“Turnaround work is very challenging but gratifying because you have to solve the problems of a company and make it successful again within record time, and in the process, you create more jobs,” said Lohage. “But it comes at a price, 4,000 to 5,000 work hours per year.”
After completing his last turnaround, Lohage heard the song “Cats in the Cradle” on the radio and realized he didn’t want his relationship with his son to turn out that way. He decided to make a career change and re-focus on his family.
“Business brokerage was a natural fit,” Lohage explained. “Turning around a company is, besides improving the company’s internal processes, products and services, “selling the company” to customers, clients, CPA firms and financial institutions. In the process, you have to establish the status of the company and, especially, its future potential to be able to determine the actual value of the company. Equally important is the legal structuring of the company, of the financing and of the overall transaction with the goals of creating a sound deal and minimal tax obligations for the company owner. Exactly the same is required from a successful business broker.”
With the support of the Murphy organization and his connections to the regional community, Lohage plans to utilize his experience to increase services to business sellers and buyers in Southwest Florida.
Lohage holds an M.Sc. in metallurgy and material science and a Ph.D. from Technical University in Aachen, Germany, where he graduated summa cum laude.
Based in Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 2,500 transactions in Florida. Services include business sales, M&A, valuation, business consulting and franchise consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
Contact: Peter Lohage
Murphy Business & Financial Services, Charlotte County
941-916-2098
plohage@murphybusiness.com
MEDIA CONTACT: Jeannie Magri
RFB Communications Group, Inc.
813/259-0345
jmagri@rfbcommunications.com
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Murphy Business & Financial Services Offers Franchise Consultation; Purchased Accounting Franchise
CLEARWATER, Fla. – (April 17, 2006) – Murphy Business & Financial Services has added two new services for clients buying or selling businesses: a consulting practice that advises clients on purchasing franchises, and CFOToday, an accounting, tax and payroll service. The additions further Murphy’s initiative to grow the company horizontally by adding interrelated products and services to benefit its customers.
“Most business brokerage firms are small independent operations,” said Roger Murphy, president and CEO of Murphy Business. “I’ve developed Murphy as a one-stop shop to handle all of our customers’ needs during the buying and selling process.”
Because more than 20 percent of business-buying prospects choose franchising each year, Murphy’s franchise consultation provides guidance to entrepreneurs who are interested in owning their own business, but do not want to purchase an existing business on their own. This service makes Murphy the only brokerage firm in Florida trained to qualify and profile prospects, matching them to appropriate franchisors.
“Franchises have the highest success rates and lowest failure rates of any business in North America,” Murphy said. “You receive ongoing support for the life of the franchise, support that includes marketing, training and management guaranteed by the agreement with the franchisor.”
Murphy currently represents approximately 100 new franchises, of which about two dozen are master franchises.
Murphy’s accounting practice, CFOToday, is designed to be managed by accountants and handles payroll, taxes and accounting for small businesses. It uses bank statements to create detailed and understandable reports that are divided by category of spending.
“One of the biggest hurdles when selling a business is getting the financials in order,” said Murphy. “The CFOToday System will help our clients properly organize their financial records as they sell their businesses.” Clearwater, Fla., Murphy Business & Financial Services, Inc. (www.murphybusiness.com ) is the largest business brokerage firm in the United States with 30 offices and 60 agents. Murphy sells approximately 350 businesses each year and has completed more than 3,000 transactions in Florida. Services include business sales, M&A, valuation, business consulting, commercial realty, accounting and franchise consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage network in the world.
CONTACT: Jeannie Magri
RFB Communications Group
813.259.0345
jmagri@rfbcommunications.com
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Murphy Business Brokers Transaction between Lakeland’s Thompson Auto Clinic and U.K. Buyer
LAKELAND, Fla. – (Feb. 2, 2006) – The Lakeland office of Murphy Business & Financial Services brokered a deal for approximately $500,000 between Thompson Auto Clinic, an automobile repairs shop, and a buyer based in the United Kingdom. The buyer, an experience mechanic whose son also brings a specialization in racing, plans to grow the business and retain current employees. Thompson Auto Clinic’s former owner, Gary Thompson, will remain a part of the operations.
“The sale marks an increasing trend in foreign investors moving to Polk County,” said Celine Dufresne, broker and owner of Murphy Business – Lakeland. “In 2005, the number of sales to foreign investors was up three times from 2004 levels.
Murphy acted as listing agent, structuring the transaction in a way that the foreign buyer could acquire the Lakeland company, as well as to create a real estate acquisition true lease purchase, that met both buyer and seller financial requirements.
Since its opening in Polk County in 2000, Murphy Business & Financial Services has sold more Polk County businesses than all other business brokers combined and ranks among the top performers across Florida. Additionally, Dufresne’s closing rate is three times higher than the industry average, due in part to a solid financial, business and sales background.
Murphy Business & Financial Services, Inc. (www.murphybusiness.com) is one of the largest business brokerage firms in the Southeast. Services include business sales, M&A, valuation and business consulting. A charter member of the Business Brokers of Florida as well as a member of the Business Brokers Network and International Business Brokers Association, Murphy Business offers clients access to the largest business brokerage networks in the world and has completed more than 2,500 transactions.
CONTACT: Jeannie Magri
RFB Communications Group, Inc.
(813) 259-0345
jmagri@rfbcommunications.com
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