Strength in Numbers: Murphy Business Creates Collaborative Culture
Check your egos at the door.
It’s not a mandate you’ll ever hear Roger Murphy say, but it does define a key component of Murphy Business & Financial Corporation’s (Murphy Business) ascent to the top of North America’s business broker industry. In an arena where buying and selling businesses comes with a tremendous amount of emotion, Murphy Business brings an approach to deal making that is redefining business brokerage.
“Satisfying our clients’ needs is priority number one,” said Roger Murphy, President and CEO of Murphy Business & Financial Corporation, a full-service business brokerage firm with franchise offices nationwide. “Our efforts are always centered on the goals of our client, even if that means we co-broker the deal. Our unique business listing system (BLS) gives all of our business brokers access to all of the companies we represent for sale. This mentality has served us well and it’s why we have so many satisfied clients and happy Murphy franchisees. We get quality deals done, period.”
The deep-seeded selflessness that emanates throughout Murphy Business has sent ripples now being felt in all corners of North America. With buzz building, Murphy Business has added 20 franchise and two regional developer offices in the past two years, and projects even more aggressive expansion in 2014, forecasting 18 to 24 new offices. Currently, the company’s regional developer and franchisee footprint stretches coast to coast throughout the United States and Canada. There are more than 160 franchisees in the Murphy Business system and a total of nearly 300 brokers. The successful strategic expansion has occurred over an eight-year span, beginning with the company’s foray into franchising in 2006.
“We’re attracting individuals who come from mid-management to C-level positions in the corporate world, as well as former business owners. This is a franchise opportunity for them to leverage their professional skills,” added Murphy, who notes that the company is focused on continued growth in its existing markets, and opening new markets in key states including Connecticut, Illinois, Indiana and Pennsylvania, among others. “Given their professional backgrounds, our franchisees understand the benefits of being part of a network that fosters collaboration,” he said.
Murphy Business’ cooperative culture is a reflection on Murphy himself. A proven business leader who was part of a team that successfully built one of the print publishing world’s largest magazine conglomerates through start-ups, strategic acquisitions and sales, Murphy entered business brokering in the early 1990s only to find it lacking true structure and training programs. With years of deal making under his belt, Murphy has perfected the art of brokering business deals in many industries.
His success caught the attention of other brokers who inquired about his business model. Instead of turning his back to the competition, Murphy welcomed their interest and began training other brokers. Many of those he trained began working under him as brokers in their own communities.
“It was ugly out there. There were some guidebooks and self-paced training programs, but I quickly saw that brokers need more personal attention and some nurturing as they get started, and in the years that follow. We developed a complete back office support system so that our brokers would spend more of their time with their clients,” said Murphy.
Murphy grew his business into the largest independent business brokerage firm in Florida. As he fielded more calls from interested parties outside of Florida seeking to join his business, Murphy made the decision to begin franchising and added seasoned franchise talent around him. Eight years into the franchise initiative, Murphy shares the same compassionate approach that he had when he first began training business brokers.
“I have surrounded myself with an amazing group of talented professionals at our home office and around the country. It takes a village…and I’m happy to be part of this one.”
As he looks at today’s marketplace, Murphy eyes pent-up demand for business brokerage services. Individuals reluctant to sell their business during the past three-plus years due to sinking prices are now putting their companies on the market. And, with business friendly tax laws expiring, the time to sell is quickly approaching. Plus, extremely high unemployment rates have sent many former corporate refugees on a path to buy a business or franchise as their best option for earning a living.
Murphy Business offers entrepreneurs both regional developer and franchisee operating models. The home office supports both groups and their agents with extensive training, along with initial and ongoing marketing efforts that leave Murphy Business owners to focus on the most important part of their business – growing it.
Murphy Business is a low overhead opportunity that offers tremendous work-life flexibility as well as scalability. The model allows a franchisee the option of operating as a home-based business or growing an office by adding a team of agents. Franchise fees range from $35,000 to $50,000 and regional developer fees range from $75,000 to $150,000 depending on territory size.
Clearwater, Florida-based Murphy Business & Financial Corporation is a full-service business brokerage firm facilitating business sales, purchases, consulting, valuations, mergers and acquisitions. Closing deals at a higher ratio than the business brokerage industry average, several accolades have been bestowed upon the company including appearing as one of the “Top New Franchises” in Entrepreneur’s annual rankings, a “Top 50 in Franchise Satisfaction” for five years running, and as a “Top 50 Franchise” according to Franchise Business Review.
Roger Murphy- President and CEO of Murphy Business & Financial Corporation:
Roger Murphy entered business brokering in the early 1990s only to find it lacking true structure and training programs. With years of deal making under his belt, Murphy taught himself how to broker business deals in other industries.
Murphy grew his business into the largest independent business brokerage firm in Florida. As he fielded more calls from interested parties outside of Florida seeking to join his business, Murphy decided to begin franchising. Less than 10 years into the franchise initiative, Murphy shares the same compassionate approach that he had when he first began training business brokers.