Murphy Business of Waukesha Research
Advisory Approach
Murphy Business of Waukesha is a franchise location of Murphy Business & Financial Services, one of the largest business brokerage networks in North America with 140+ offices across the United States and Canada. The firm operates as a lower middle market and main street business brokerage, serving business owners in southeastern Wisconsin including Milwaukee, Waukesha, and surrounding areas. The firm's thesis is rooted in practical, hands-on experience: founder Patrick McAdams built and sold his own seven-location Budget Blinds franchise over 14 years, giving him first-hand understanding of the challenges business owners face when exiting. This personal experience shapes the firm's approach—unvarnished advice, fair valuations, and a focus on businesses that can actually sell rather than listing every opportunity that comes through the door.
The firm distinguishes itself through its operator mindset. As McAdams states, "Our closure rate is double the national average. How? We offer fair valuations, rigorous process and straight advice. Sure, we could list every business that comes our way. But we don't. We list businesses we can sell." This selective approach means they focus on realistic valuations and properly prepared businesses rather than chasing false expectations that waste sellers' valuable time.
Sector Focus
The firm's practice spans seven primary industry verticals, reflecting both the southeastern Wisconsin economy and McAdams' operational background:
Manufacturing: Industrial and process manufacturing companies, including precision machining, metal fabrication, and industrial equipment suppliers. McAdams' background includes seven years as an IT consultant for Fortune 1000 companies, providing technical literacy for complex manufacturing operations.
Construction & Engineering: Commercial and residential construction firms, specialty trade contractors (HVAC, electrical, plumbing), and engineering services. The firm emphasizes businesses with recurring revenue models and established customer bases.
Business Services: B2B service companies including IT services MSPs, facilities management, industrial staffing, and professional services firms. The firm targets businesses with scalable operations and transferable customer relationships.
Retail & E-commerce: Main street retail businesses, franchise operations, and e-commerce businesses with physical operations. McAdams' experience operating a multi-unit franchise provides particular expertise in franchise resales and transfers.
Real Estate & Rental: Property management companies, equipment rental businesses, and real estate services firms. The firm's $15M+ in closed transactions includes both business sales and associated real estate.
Financial Services: Insurance agencies, investment advisory practices, and other financial services firms with recurring revenue and transferable books of business.
Technical Services: Specialized technical and industrial service providers, including equipment repair, calibration services, and technical consulting firms.
Deal Track Record
Since launching the practice in 2020 after selling his own business, Patrick McAdams has closed over $15 million in business and real estate transactions. This volume reflects a focused main street and lower middle market practice, with typical deal sizes ranging from $500,000 to $10 million in enterprise value. The firm's Lower Middle Market and M&A Division focuses on companies with $5 million+ enterprise value, positioning them at the entry point for institutional buyers.
Murphy Business nationally reports over $4.3 billion in completed transactions across the franchise network, providing the Waukesha office with access to a broad network of buyers and sellers. While specific deal details are typically confidential in the main street market, the firm maintains active listings across their target industries on major business-for-sale platforms including BizBuySell, BizQuest, and Crexi.
Process & Fee Structure
The firm follows a structured sell-side process designed for main street and lower middle market businesses:
- Valuation: Comprehensive business valuation to establish fair market value and set realistic pricing
- Preparation: Creation of professional offering portfolio including company history, financial statements, and operational details
- Confidential Marketing: Multi-channel marketing through 140+ Murphy offices and major business-for-sale platforms
- Buyer Qualification: Screening and qualifying prospective buyers with confidentiality agreements
- Due Diligence Management: Guiding sellers through the due diligence process with documentation support
- Closing Coordination: Managing the transaction through closing with legal and tax professionals
The firm emphasizes maximum exposure through the national Murphy network, which spans North America with affiliations to national and international business brokerage and M&A associations. This broad reach helps promote businesses to the maximum number of qualified potential buyers while maintaining strict confidentiality protocols.
Fee structures follow industry standards for business brokerage: typically a retainer fee upon engagement with a success fee percentage paid at closing. While specific fee schedules are not publicly disclosed, business brokers in this market segment typically charge success fees in the 8-12% range for main street businesses under $2 million, scaling down for larger transactions. The firm requires exclusivity for engagements and typically works on a retainer-plus-success-fee structure.
Buyer Network
The Waukesha office's buyer network combines local and national reach:
- Murphy Network: Access to 140+ offices across North America, providing national exposure for listings and referral opportunities
- Individual Buyers: High-net-worth individuals, family offices, and entrepreneurs seeking acquisition opportunities
- Private Equity Groups: Relationships with lower middle market private equity groups focused on platform companies and add-on acquisitions in the $5M-$50M range
- Strategic Buyers: Corporate buyers and competitors seeking expansion through acquisition
- SBA Financing: Network of banking professionals to facilitate SBA-backed loans for buyers, often reducing the need for seller financing
The firm maintains relationships with private equity groups that have raised capital from institutional investors for acquisitions in the lower middle market. While many PE firms prefer 100% acquisitions, some also consider recapitalization structures where current owners sell a portion and remain in management roles.
Competitive Positioning
Murphy Business of Waukesha differentiates through several key factors:
- Operator Experience: McAdams built and sold a multi-location franchise over 14 years, providing genuine empathy for sellers and practical deal-making experience
- Selective Approach: The firm lists only businesses it believes it can sell, leading to a closure rate double the national average
- National Network: Access to 140+ Murphy offices provides broader buyer reach than single-office independents
- Certified Expertise: CM&AP (Certified M&A Professional) designation through M&A Source, demonstrating commitment to professional standards
- Integrated Services: Business valuation, real estate capabilities, and transaction management under one roof
The firm's closure rate metric—double the national average—reflects their selective listing philosophy and rigorous preparation process. Rather than chasing volume, they focus on realistic valuations and properly prepared sellers.
Not a Fit If
Murphy Business of Waukesha is typically not a fit for:
- Businesses below $500,000 in enterprise value (too small for professional brokerage)
- Startups or pre-revenue companies without established operations
- Businesses with significant pending litigation or operational problems that would impede sale
- Sellers seeking limited-process sales or quick exits—the firm believes in thorough marketing to maximize value
- Businesses in industries outside their geographic focus (they serve Wisconsin and surrounding areas)
- Sellers unwilling to accept realistic valuations—the firm emphasizes straight advice over flattery
Team
The Waukesha office is led by Patrick McAdams, franchise owner and business transfer specialist. McAdams brings 30 years of business experience including 14 years building a multi-unit Budget Blinds franchise and seven years as an IT consultant for Fortune 1000 companies. He holds a Bachelor of Business Administration in Office Systems (Information Technology) from the University of Wisconsin-Whitewater.
McAdams earned the CM&AP (Certified M&A Professional) designation from M&A Source and is a member of the organization, reflecting commitment to professional standards in the lower middle market. He holds Wisconsin business broker license #WI 90101-94.
As a franchise owner, McAdams operates independently while leveraging the Murphy Business national network for training, marketing, and buyer access. The Murphy network requires all brokers to be former business owners or senior executives, with many holding additional certifications in business appraisal, machinery & equipment appraisal, and exit planning.
Geographic Coverage
The firm serves southeastern Wisconsin with a primary focus on:
- Milwaukee metro area
- Waukesha County
- Surrounding counties including Racine, Kenosha, Washington, and Ozaukee
The office is located at 461 River Crest Court, Suite 2, Mukwonago, Wisconsin 53149, providing strategic access to both the Milwaukee metro market and outlying suburban and rural business communities.
Murphy Business's national franchise network means the Waukesha office can also facilitate transactions outside the primary geography through referrals to other franchise offices, while still providing local representation for Wisconsin-based sellers.