- Business Broker Reviews
- For business owners
Business broker reviews
Murphy Business Reviews: What Business Owners Should Know Before Hiring a Broker
A large North American brokerage network. Below: who would actually run the sale, how the company would be prepared, how buyers would be reached, and what is publicly known about fees and reviews.
- Updated September 6, 2026
- Evidence-based analysis
- Publicly available sources
Is Murphy Business a Good Business Broker?
Murphy Business is a legitimate, established business brokerage organization. Its national materials describe a network with offices in 38 states and Canada and over $4.3 billion in completed transactions (Murphy figures, as displayed September 6, 2026), along with business valuation, an offering portfolio, a custom marketing plan, confidential disclosure under a signed confidentiality agreement, buyer qualification, negotiation and closing help, plus a separate M&A group for larger companies.
Whether it is a good broker for you is narrower. Murphy operates through individual brokers and locally owned practices, so an owner is evaluating two things at once: the organization, and the specific person who would represent the company. The answer depends on that broker, the buyer strategy and the engagement terms.
Editorial disclosure: SMB Exit Partners provides sell-side M&A advisory services and may compete with Murphy Business. This analysis is based on publicly available information; we do not have access to Murphy Business's private engagement terms or client files.
Quick comparison
Murphy Business vs. SMB Exit Partners
Two different approaches to representing an owner through the sale of a business.
| Dimension | Murphy Business | SMB Exit Partners |
|---|---|---|
| Who leads your sale | The seller works with the specific Murphy broker or local practice handling the engagement within the broader Murphy network. | SMB Exit Partners' partners remain directly involved from the initial conversation and preparation through buyer outreach, negotiations, diligence and closing. |
| Seller focus | Broad business brokerage and M&A offering serving many types of privately held businesses. | Primarily focused on privately held businesses generally generating approximately $1 million to $20 million in annual revenue. |
| Preparing the business | Public materials describe business valuation, preparation of an offering portfolio and development of a custom marketing plan. | Financial normalization, valuation, positioning, professional buyer-facing materials and transaction preparation before outreach begins. |
| Buyer access | Broad brokerage network, local and national broker relationships, listing on brokerage networks and existing buyer relationships. | Existing buyer relationships combined with a buyer universe developed specifically around the individual company. |
| Buyer strategy | Public materials describe confidential marketing, targeted marketing and direct mail, broker-network listings and buyer qualification, with an M&A group that contacts private equity and corporate buyers for larger companies. | Researches relevant strategic and financial buyers individually and conducts proactive direct outreach, in addition to using appropriate marketplaces and existing relationships where useful. |
| Customization | The exact sale process and execution depend on the individual Murphy broker, local practice and engagement. | Positioning, buyer strategy and outreach are built specifically around the individual company and its likely buyer universe. |
| Senior involvement | Depends on the specific broker and team selected. Owners should establish who will personally perform each stage of the transaction. | Partner-led throughout valuation, preparation, buyer strategy, outreach, negotiations, diligence and closing. |
| After an LOI | Public materials describe full disclosure following an offer or letter of intent, with broker assistance through negotiation and closing. | Partners remain directly involved through diligence, negotiations, transaction issues and closing. |
| Fee structure | We did not identify a universal seller fee schedule in Murphy's national materials. Owners should obtain the complete economics directly from the specific broker or office. | Modest engagement fee covering upfront transaction preparation and development of professional marketing materials, with the majority of compensation earned through the transaction fee at closing. |
| Advisory model | Large business brokerage network operating through individual brokers and locally owned practices within the broader Murphy organization. | Boutique, partner-led sell-side M&A advisory firm. |
| Especially relevant for owners who… | Particularly value the infrastructure of a large brokerage network, or have identified a specific Murphy broker whose experience strongly fits their transaction. | Want a hands-on, partner-led process with substantial preparation, company-specific buyer research, proactive direct outreach and the same senior team involved from start through closing. |
Murphy descriptions are drawn from its national website as of September 6, 2026 and are linked in the sections below. SMB Exit Partners descriptions reflect our own engagement model.
Key takeaway
The biggest difference is how the engagement is structured. Murphy provides access to a broad brokerage network, delivered through whichever broker or local practice represents the seller. SMB Exit Partners is built around direct partner involvement and a process designed for one company at a time: the same partners handle valuation and preparation, then buyer research, direct outreach, negotiations, diligence and closing. For an owner who wants a highly hands-on process shaped around the individual company, that distinction can matter.
How the Murphy Business Model Works
Murphy Business provides business brokerage, business valuation, machinery and equipment appraisal, franchise resale and lower-middle-market M&A services. According to its about page, Murphy Business & Financial Corporation LLC was founded in 1994 by Roger J. Murphy, began as a single brokerage office in Clearwater, Florida, and grew into "one of the largest and most successful business brokerage firms in North America." The company remains headquartered in Clearwater and describes offices across the United States and Canada.
Murphy grows through franchising. Its franchise site explains that a Murphy Business Sales franchise owner "operates your own business brokerage practice," managing day-to-day activities independently while receiving the brand's systems, training, ongoing resources and access to a national network of brokers. The same page notes that many owners run the practice from home without a traditional office or large staff.
For a seller, the practical implication is straightforward. The broader Murphy organization supplies infrastructure: brand, training, network listings, industry memberships and a shared methodology. The transaction itself is run by an independently owned local practice and the individual broker inside it. Both matter, and this review does not speculate about how quality varies between offices. It simply means that the due diligence an owner does on the specific broker is at least as important as the due diligence done on the Murphy name.
How Murphy Says It Sells a Business
Murphy's national Sell a Business page describes the engagement in prose rather than as a numbered process. Read in order, the elements it lists are:
- Valuation. The broker starts by looking "at options for a business valuation" so the business is "priced fairly and accurately." Murphy also operates a separate valuation and appraisal practice that says its reports comply with USPAP and Institute of Business Appraisers standards.
- Custom marketing plan and offering portfolio. Murphy says it creates "a custom marketing plan" using "targeted marketing, direct mail, and consumer/trade advertising," and that the plan includes an Offering Portfolio giving buyers detailed information about the business, which it contrasts with "a typical one-sheet flier."
- Network listing. The business is "listed on national and international business brokerage networks," which Murphy positions as a deeper buyer pool than a local agent would reach.
- Confidentiality and qualification. Murphy states it will not disclose confidential information without a signed Confidentiality Agreement, and that it works "toward full disclosure with either an Offer to Purchase or a Letter of Intent." Qualifying potential buyers is listed as a core broker service.
- Negotiation and closing. Once a suitable buyer is identified, brokers "assist with the negotiation process and help close the sale," including use of banking contacts to help a buyer arrange financing.
For larger companies, Murphy's Lower Middle Market / M&A page describes a group called Murphy Merger & Acquisition Advisors, focused on companies with EBITDA above $1 million. That page says the group maintains contact with private equity groups and corporate buyers, identifies additional corporate buyers, and makes "confidential inquiries to corporate buyers without disclosing your company's identity." It also states a preference against broad auction processes on confidentiality grounds.
Taken at face value, this is a complete brokerage process, and Murphy deserves credit for describing it in reasonable detail. It is not a listing service that posts a business and waits. What the national materials cannot tell an owner is how much of each element will be performed, and by whom, in a particular engagement. That is a question for the specific broker.
Buyer sourcing
Murphy's national materials describe several buyer channels: listings on brokerage networks, industry association and multiple-listing memberships, the firm's own contacts with buyers and sellers, direct mail and targeted marketing, and, in the M&A group, confidential inquiries to private equity and corporate acquirers. Which of these are actually used, and how intensively, depends on the broker, the office and the size of the business.
There is a real difference between two things that are often described with the same words. One is access to an existing buyer ecosystem: databases, network listings and relationships that already exist, into which a new listing is introduced. The other is building a buyer universe around one company: researching which strategic acquirers, private equity platforms and individual buyers have a specific reason to want this business, then contacting them directly, including buyers who are not browsing listings. Neither is superior in every transaction. A small, owner-operated business with many capable individual buyers may be well served by broad exposure. A business whose most logical acquirer is a specific competitor or platform company usually is not. The owner should know which approach is being proposed. Useful questions:
- Will my business be marketed on business-for-sale platforms?
- Will existing buyer databases and broker relationships be used?
- Will a buyer universe be developed specifically for my company?
- Will strategic buyers be individually researched?
- Will relevant financial buyers be identified?
- Will buyers who are not already browsing listings be proactively contacted?
- Who personally conducts that research and outreach?
What Murphy Business Reviews Actually Tell a Seller
A search for Murphy Business reviews returns a mix of different things: reviews by sellers, reviews by buyers, Google reviews of individual offices, Better Business Bureau profiles of specific legal entities, employee reviews on employment sites and testimonials Murphy publishes itself. These are not equivalent, and reading them as one body of evidence produces a misleading picture in either direction.
Employee reviews are not seller reviews
Glassdoor, Indeed and similar sites describe what it is like to be a Murphy franchisee, broker or staff member. They may say something about training or compensation. They say nothing reliable about what an owner will experience selling a business through a particular office, and we have not used them as evidence here.
Broker- and office-specific reviews carry the most weight
Because Murphy offices are independently owned franchises, each typically operates as its own legal entity with its own BBB profile and Google listing. A review of an office in another state, or of a broker who will not be involved in your sale, tells you little. The reviews worth reading closely are of the actual broker being proposed, the actual office and sellers whose businesses resembled yours. For that reason we have not aggregated ratings from unrelated offices into a national score, and we have not assigned one of our own.
Where a third-party profile is consulted, identify the exact entity and location it covers, check it immediately before relying on it, and note the sample size. A profile with a handful of entries can swing on one transaction. A single complaint is not evidence of a systemic problem, and a single glowing review is not evidence of systemwide performance.
How to read a business broker review
The reviews that help a seller decide tend to say whether the reviewer was a seller or a buyer, which broker handled the transaction, whether it closed, how communication and preparation were handled, how buyers were qualified, what support was provided during negotiation and diligence, and how problems were resolved. Less useful: employee reviews, reviews of unrelated offices, generic anonymous praise and testimonials with no transaction context. When Murphy or any broker offers references, ask for owners whose businesses were similar in size and type and who worked with the same individual who would work with you.
Murphy Business Fees
We did not identify a single universal seller fee schedule on the national Murphy Business materials reviewed as of September 6, 2026. That does not mean Murphy lacks defined fees. Because offices are independently owned, terms may be set at the office or engagement level, and an office-specific fee statement should not be read as network-wide policy. Owners should obtain the complete economics of the proposed engagement directly from the specific broker or office, in writing.
We have not estimated Murphy's commission, and general industry fee ranges should not be mistaken for Murphy's pricing. Before signing with Murphy or any business broker, ask for the following in writing:
- Success fee, and how it is calculated at two or three realistic sale prices
- Any minimum fee
- Any retainer or upfront preparation cost
- Marketing expenses, and who pays them
- The definition of transaction value, including whether real estate, inventory, working capital and assumed debt are counted
- How seller financing and earnouts are treated when the fee is calculated
- Engagement length, exclusivity, termination rights and any tail provision
For context on how sell-side fees are commonly structured across the market, see our 2026 guide to business broker fees. It describes market practice, not Murphy's terms.
Where a Large Brokerage Network Can Make Sense
A network like Murphy's can be a reasonable choice when an owner values the infrastructure of a large brokerage organization, prefers a local broker who sits inside a national brand, has identified a particular Murphy broker with highly relevant industry or transaction experience, or owns a business for which broad marketplace and broker-network exposure genuinely is the right way to find a buyer. Those are legitimate reasons, and some owners will weigh them heavily.
None of them answers the question that determines the outcome: what will the specific advisor personally do for this company, and how well does that match the kind of buyer most likely to pay the most for it?
Questions to Ask Before Signing With Murphy or Any Business Broker
Who personally manages my transaction from beginning to end?
Ask for names, and what happens if that person becomes unavailable.
What similar businesses have you personally represented?
Similar in size, industry and buyer type, not simply within the same office or network.
How did you determine the proposed valuation?
Which earnings figure, which adjustments, which comparables, and how deal structure changes what you actually receive.
What work will be completed before buyers see my company?
Financial normalization, positioning, the offering document, a data room. Ask to see redacted examples.
How will buyers specifically for my company be identified?
Listen for a method, not a network size.
Will strategic and financial buyers outside existing databases and listing platforms be researched and contacted?
If yes, ask how many and by whom.
Who personally conducts the buyer research and outreach?
The person who pitched the engagement is not always the person who makes the calls.
How are prospective buyers qualified?
Confidentiality agreements, proof of funds, financing capacity and fit, before sensitive information is shared.
What will you personally handle after an LOI is signed?
Diligence requests, renegotiation, coordination with attorneys, accountants and lenders, and the closing itself.
What are the complete fees, exclusivity provisions, termination rights and tail?
Modeled at realistic sale prices, in writing.
Our guide to choosing a business broker to sell your business goes deeper on each of these and on the warning signs that tend to surface during a broker pitch. If your company is a service business, How to Sell a Service Business in 2026 covers the buyer types and diligence issues that matter most in that segment. Owners comparing national networks may also find our Transworld Business Advisors review useful, since it applies the same framework.
Bottom Line
Murphy Business is a legitimate, established brokerage organization with a broad North American network, and for some owners that structure will be attractive. The size of the network does not, on its own, determine how one company will be prepared, positioned, marketed and represented. That comes down to who will actually run the transaction, how the business will be prepared, how buyers specifically for the company will be identified, who conducts the outreach, who negotiates offers, who stays involved through diligence and closing, and what the engagement economics are.
For owners who specifically want a hands-on, partner-led process with direct senior involvement from preparation through closing, and a buyer strategy built around company-specific research and proactive outreach, SMB Exit Partners represents a materially different approach. Our sell-side process describes how that works in practice, and our valuation review is a low-commitment place to start.
For owners
Thinking about selling your business?
If your company generates approximately $1 million to $20 million in annual revenue, SMB Exit Partners can provide a confidential perspective on valuation, likely buyers and what a sale process could look like. There is no obligation to engage us.
How We Researched This Review
- Last reviewed September 6, 2026.
- Primary sources were prioritized. Murphy's own current national and franchise materials were used for factual claims about its history, scale, services and sale process: the Murphy Business home page, Sell a Business, About Us, Business Valuation, Lower Middle Market / M&A and the Murphy Business Sales franchise site.
- Murphy-published statistics (states served, completed transaction volume) are identified as Murphy figures. We have not independently audited them.
- Third-party review and profile sites were considered only for the purpose of explaining how such reviews should be read. No individual third-party review, rating or complaint was quoted, because none could be verified as representative of the network.
- SMB Exit Partners does not have access to Murphy's private engagement agreements, internal performance information, client files or non-public financial information.
- Information that could not be verified was not estimated.
Murphy Business and Murphy Business Sales are trademarks of their owner. SMB Exit Partners is not affiliated with Murphy Business. This article is educational and is not legal, tax or financial advice.