From our perspective, the selling process begins with a well-prepared business owner.
- Is now the time to sell?
- Is the financial performance of the business at “peak level”?
- Are financial statements and tax returns in good shape and properly representing the true financial performance of the business?
- Has the business owner assessed “life after the sale”?
If these things are in order, then our activity can begin in assisting in the process. Our activities consist of:
Gaining a Solid Understanding of Your Business
We take the time to learn about your business, its strengths and weaknesses. We look at the business from a buyer’s perspective in order to properly prepare for effective representation of your business in the sale.
An accurate valuation of your business is key to a successful sale. We provide “realistic” valuations – not blue sky, as we want the transaction to be completed in a timely manner. Some brokers will provide a very high valuation with the anticipation that in time the seller will reduce their price.Our exclusive database of businesses sold nationwide by VR offices gives us extensive statistics to assist in pricing a business. We know what buyers look for and what they are willing to pay. We make sure you don’t overprice and scare off good buyers or under price and leave money on the table. We use our database and expertise to convince buyers that your asking price is fair.
We know how, when and where to advertise your business in order to attract the right kinds of buyers. We pay for the advertising (no cost to you), including your ad on our local website and on the VR corporate website. In addition to these two web sites, we advertise on a variety of additional sites giving overall exposure to over 125 different sites.
Depending on the type of business you have, we might also consider private equity and venture capitalists, along with potential strategic buyers (in consultation with you), as other potential targets to acquire your business.
One thing that you can be assured of is the sale of your business will be handled confidentially. We have developed a successful strategy to protect your confidentiality. We never disclose the name or location of your business on the telephone. We will not work with a buyer until they have been qualified and have signed a non-disclosure/confidentiality agreement. We never send buyers out to your business unescorted. We never put the name of your business in a multiple listing service for everyone to see. We accommodate your needs with after hour’s meetings if necessary. Everything we do is designed to protect your business and your confidentiality.
Advertising alone doesn’t sell businesses. You need experienced business brokers to get people interested in your business. Even experienced buyers often buy a different type of business than the one they call on! About 1% of buyers buy the business they call on and less than 30% buy even the type of business they called on. We always get a good cross section of buyers and then conduct in-depth interviews with them to determine their qualifications. When we find someone who is a good fit for your business, we will steer them toward it. This way you get the benefit of every ad we run for every business we represent! The money you would have to spend in advertising to attract just the right buyer for your business would be significant.
As a single brand, VR has sold more businesses in the world than anyone. No one else can compare with VR’s experienced network of professionally trained associates. Because of our experience, we have the knowledge to anticipate and solve many problems before they ever arise.
We know how to structure transactions to minimize the chance of a problem. We use our experience from thousands of sales to develop terms that work for everyone. We prepare the offer using the appropriate documents and clauses. The offer, accompanied by an earnest money deposit and information about the buyer, will be explained to you. We will counsel you on your options of accepting, countering or rejecting the offer and on what has to be completed before closing can take place. We will coordinate with all parties to keep the process moving to a closing in a timely manner.