Sandee Divine, National Director of Franchise Sales tells us more about the amazing opportunity at Murphy Business & Financial Corporation.

How was your brokerage firm originally conceived and started?

We built an extremely successful business brokerage firm over a 12-year period with 30 offices across Florida.  During that time, we discovered that there was not a lot of support and guidance for business brokers.  We decided in 2006 to offer the business model nationally by franchising its methodology, systems and support services.  The franchise was developed and the original brokerage company continues to operate today as the model and the first regional developer.

What was your original vision for your company?  How has that changed over time?

Our vision is to provide high level professional services to our clients.  The business brokerage industry is made up of mainly small independent firms that lack formal training for new brokers entering the business.  Our system was designed to provide our franchisees with comprehensive initial training and ongoing support through the corporate office and regional developers, thereby allowing our brokers to spend more time with clients.  Our vision remains the same with the exception of trying to provide even further support, services and training than the original program anticipated.

What do you believe is the single most important factor when choosing a franchise?

Insuring that you share the company’s culture.

Why should someone choose Murphy Business Brokers over other similar brokers?

Our franchisees benefit from multiple revenue streams and a proven lead generation system. Our home office team provides much of the administrative support for our franchisees so that they can concentrate on what they do best, secure listings and close deals.  In addition, we have an intranet system for our franchisees that is second to none – an online content management system with a multitude of functions, including a library, National Business Listing system, online reference guides, industry research, document forms, buyer database and more.  We have Regional Developers in most areas so that our franchisees receive both national and regional support.

What makes your industry attractive?

Industry experts say that 65-75% of US businesses will be put up for sale in the next 5-10 years due to retiring baby boomers.  An on average 20% of US businesses are for sale at any given time.  There are currently about 3,500 brokers, which means that the customers are underserved; there just aren’t enough brokers to do the job.

What types of qualities do you look for in potential franchisees?

Our franchisees come from all walks of life.  A person with strong management, organizational and communication skills who is ambitious would do very well as a Murphy franchisee.

What do your franchise fees and royalties cover?

Franchise fees cover initial start up and training for franchisee.  Royalties and monthly service fees cover ongoing support.  We also have a Quick Start Marketing Program to help jumpstart the business.

How do territories work for your franchisees?

We provide each franchisee with a minimum of 5,000 businesses within their market area.

Why has your business model been successful?

Low entry cost; low overhead (can be run from home or a virtual office), and a determination on behalf of company management to continually improve and increase support and services for our franchisees.

Where do you see your franchise in 5 years and 10 years?

Exponential growth is our goal.

What is your favorite advice for new franchisees to help them succeed?

Follow the system.  It has grown and prospered for all of these years for a reason.

What would you tell potential franchisees that may be nervous about the financial burdens of starting a franchise?

There comes a time when you just have to make a decision to hold your nose and jump in the pool.  But before you do, make sure that you have the funds to support yourself during the startup phase.

Can you explain your financial assistance?

We offer financing of up to 50% of the franchise fee for qualified individuals.

On average, how long does it take to start a new franchise from the franchisee’s point of view?

The franchisee is ready to open immediately after initial training, when we will begin aggressive marketing campaigns to generate leads.  The franchisee will follow up on the leads to schedule listing appointments.  Based on industry averages, new brokers should plan on a 6 – 9 month period from listing to closing.