Murphy Business One of "Top New Franchises"
Adds 81 Franchisees in First Year
CLEARWATER, FL--(Marketwire - January 29, 2008) - Murphy Business & Financial Corporation, (www.murphybusiness.com), one of the largest business brokerage firms in the country, ended its first full year as a franchise with 80 franchisees in the U.S. and one international franchisee in San Jose, Costa Rica.
In doing so, Murphy Business earned a spot as one of the 50 "Top New Franchises" according to Entrepreneur magazine's 29th annual ranking of companies that have started franchising since 2002. The listing appeared in the magazine's January 2008 issue.
After building a successful business brokerage operation in Florida, President and CEO Roger Murphy decided in late 2006 to apply his business model nationally by franchising its methodology.
"Our brokers have been advising business owners and entrepreneurs for years on how and when to buy and sell franchises," said Roger Murphy. "It was time to focus that experience internally and apply that knowledge to our own operation."
Murphy's operation includes 65 single unit franchisees supported by 16 regional franchisees. 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.
"Most business brokerage firms are small and the agents do their own administrative work," said Murphy. "By having a strong core support staff to rely on, our brokers are free to do what they do best -- work with clients."
The Murphy franchise model offers comprehensive administrative, marketing and direct mail support, a proven business development process, access to a national database of companies for sale and comprehensive training. In addition, as listings are obtained, the corporate office generates confidential memos, business profiles and web postings for its 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 & equipment brokerage, business consulting and wealth management.
"The decision to grow the company horizontally by adding products and services that are mutually beneficial has probably been one of my best business decisions," said Murphy. "Many independent business brokers would have to walk away from the more complicated deals involving mergers and acquisitions or divesting or leasing real property in addition to the business itself, but Murphy franchisees have the support necessary for those transactions."
A career as a Murphy franchisee attracts mid-managers and above, offering the opportunity for high income (with relatively little investment). Many business brokers receive only 50 percent of the commissions earned from the brokered deal. However, Murphy franchisees receive a much higher percentage. They also enjoy higher net income due to the strong support network that eliminates the need to employ a local support staff.
"Our franchisees are a mix of former corporate executives, real estate brokers, commercial loan officers, CPAs, attorneys, former business owners, military retirees and even current independent business brokers," said Murphy. "These people are well established in their communities and want to be in business for themselves, but not by themselves."
About Murphy Business & Financial Corporation:
A charter member of the Business Brokers of Florida as well as the Institute of Business Appraisers, Society of Business Analysts, Certified Business Counselors, and International Business Brokers Association, Murphy Business is now a national brokerage franchise operation with more than 81 locations. The franchise division (www.murphyfranchise.com) offers a proven methodology, core administrative support, business development and direct marketing to assist its franchisees in becoming successful.