12 Advantages of Using the VR System to Sell Your Business
- Exposure: The key to selling a business is showing it to the right person. A larger number of qualified buyers means a higher price for your business.
Because VR has been brokering businesses since 1979, VR enjoys a network dominance in the marketplace, both locally and internationally, with hundreds of buyers calling us daily and thousands of prospects searching for businesses.
Additionally, content marketing through Today’s Business Owner magazine attracts local and out of town buyers.
- Advertising and Marketing: We know how, when, and where to advertise to attract the right kinds of buyers. In addition to traditional and Internet advertising, you will receive exposure through our multi-faceted marketing program that includes disseminating information on your business (without specific, identifying information) to all VR Intermediaries and potential buyers.
- Confidentiality: One thing that you can be assured of is the sale of your business will be handled confidentially. If your employees, competitors, customers, landlord, or suppliers find out you are selling, your business could be damaged significantly. We have developed a very successful strategy to protect your confidentiality.
At VR, we will not work with a buyer until they:
- Have been screened as financially capable.
- Have signed a confidentiality agreement.
At VR, we never:
- Send buyers out to your business unescorted.
- Disclose the name or location of your business over the phone.
- Put the name of your business on a multiple listing service for everyone to see.
When considering who to partner with to sell your business, the procedures above should be paramount to your decision in who to trust, and the lack thereof should be a cause for concern.
Finally, we can accommodate your needs with after hours meetings. Everything we do is designed to protect your business and your confidentiality.
- Time: It takes a great deal of time to sift through all the tire kickers and properly handle the good buyers. We do this for you so you can spend your time running your business. If you did find an interested buyer on your own, you would spend a tremendous amount of time showing him or her your records and operation. We allow you to protect the value of your business by spending your time running it.
- Synergy: 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 consistently 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 towards 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.
- Proven Results: VR Has Sold More Businesses in The World Than Anyone.® No one else can compare with VR’s experienced network of professionally trained Business Intermediaries. Because of our experience, we have the knowledge to anticipate and solve many problems you will have.
- Follow Up: We will follow up with a buyer after they have seen your business, pointing out the benefits of making an offer. We will report buyer’s reactions to keep you posted on how your business; compares with others on the market. Our follow up after an offer is signed, including attending the meeting with the buyer to review the financial records, assisting in arranging the inventory, and removing all contingencies ensures a higher probability of the transaction closing.
- Negotiating Power: We can pursue a buyer without damaging your negotiating position. Every time you contact a buyer yourself, it weakens your negotiating power. As a third party intermediary, we can bird-dog the buyer and encourage him or her to make a decision, without implying in any way that you are anxious to sell. All of our professional intermediaries are experienced, negotiators. Even if you are a good negotiator, it really helps to have an intermediary between you and the buyer to preserve your good relations. Every buyer has advisors, relatives, etc. that can act as obstacles to the proposed purchase. We know how to spot this and handle these obstacles.
- Risk-Free: We research your business, help you get the business ready for sale, advise you on pricing and structuring, prepare a marketing package, advertise your business, interview buyers, negotiate on your behalf and do everything necessary for a smooth sale. In most cases, we operate on a success fee-based compensation, meaning you owe us nothing until we find the qualified buyer or seller you are seeking.
- Pricing: 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. No other brokers outside of the VR network can add this value.
- Structuring the Offer: 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.
- Advisory Team: We have a network of qualified business attorneys that can safely handle the details of your closing for you at a reasonable investment. We will attend the closing with you, and after the sale to ensure a smooth transition. We can also introduce you to trustworthy financial professionals including accountants and investment advisors who can minimize tax repercussions and ensure that your new wealth continues to grow.
Questions about the VR Advantage? Email Neal at [email protected].