The Selling Process
The process of selling a business can be a very productive and rewarding experience, but it also can be a very time consuming and complex business transaction.
VR Business Brokers goes the extra mile to ensure that its clients reach their goals and the sale of your business is accomplished in the timeliest and most efficient manner at the highest value to both buyer and seller.
At VR, we understand the complexities of selling a business. Our professional intermediaries have been involved in the buying and selling of companies for over 35 years.
VR operates on the fundamental premise that there can be no losers in the successful sale of a privately held company. Both the seller and buyer must be satisfied after the transaction is complete. To achieve this goal, VR takes extraordinary precautions to ensure that every business is properly priced and has a sound financial structure. VR works hard to ensure that they understand, as precisely as possible, every business they represent. VR will not knowingly misrepresent a business nor will they ever encourage a buyer to underbid the client’s price.
The process starts with a preliminary, no-obligation meeting that is scheduled at the seller’s convenience, and usually at his place of business. General information is exchanged, so the seller and a VR broker can become acquainted with each other and their respective businesses.
A valuation is then performed to provide the seller with a recommended price range he/she can expect to receive for his business. This includes an analysis of past business sales, the current market conditions and review and factoring of all of the data pertinent to the business being sold. The seller and VR work together in establishing the asking price and terms for the business.
A contractual agreement is entered into between the seller and VR allowing the exclusive right to market the business and VR to act as the transactional agent for a specified time period and under specified terms and conditions.
The seller and VR work together in discussing and developing the marketing plan unique to the business. The marketing plan is then implemented by VR through multiple venues including our own global network, many other business related web-sites, print and direct mail.
VR then qualifies and educates all prospective buyers to minimize unnecessary exposure and disruption of the business as well as insure the buyer is qualified to financially afford the business. Once qualified and confidentiality is secured, VR will present the business, arrange meetings to show the business and solicit offers from the prospective buyers.
We encourage buyers to write a fair offer accompanied with an earnest money check. Our “offer to purchase” form is proven over thousands of transactions, protecting your interests as well as those of the buyer. We present the offer to you, along with detailed information on the background of the prospective buyer. You may accept the offer as presented or use our knowledge and experience to structure a counter offer.
Once both parties agree on terms, we have an “offer acceptance”, but not a done deal. Nationwide, more than half of “offer acceptances” fail to progress to closing. At VR, our rate is much higher, because we know how to manage the subsequent critical steps.
Is this a right time to sell?
Schedule a confidential appointment with our agent and develop your exit strategy and prepare your business for sale.