Technology Company
I would certainly recommend VR and would use them again if I had the need. They kept their promises, worked hard and sold my business to a buyer from across the country. Choosing VR was one of the best decisions I ever made with my business.
Sign Code
Mohan and Troy at VR were great to work with. The entire process was great. They really know their business.
eSupplyStore.com
Troy - thank you for all your hard work with eSupplyStore. I know we found the right buyer at the right price. I don't see how the process could have gone any smoother.
Learning Center
VR did an excellent job of selling my franchise. This is actually the second time that I have used their services and I have been impressed both times.
Health Gazette
I owned the Health Gazette for over 30 years and it was important for me to find the right buyer. VR gave us a fair market value for the business and sold it for exactly that amount. I could not have been more pleased.
VR really took the time to understand my needs. I think their expertise was a big reason the transaction happened.
Publishing Company
VR stood out from the competition. They were the best fit when it came to selling my business.
Retail Bookstore
I was extremely impressed with VR. They approached the sale of my business with a very professional system. I knew my business wasn't large, but I still got a high level of service. I would certainly recommend VR to anyone thinking about selling their business.
Diamond Design
I hired VR to sell me construction company. They worked hard through the whole process and found the right buyer. They did a great job and I would use them again.
Sylvan
I wanted to send a note and thank you for all your hard work. This has been a great experience and I really enjoyed working with VR.
Pure Air Systems
I tried other brokers in town and they just put some ad in the newspapaer and it didn't result in much.
Carrell Welding
VR did a very good job for us. They set the price for my business, found the buyer, and worked through all the details.
Commercial Business Systems
I first used another brokerage company to try and sell my business, but it did not work. VR was totally different, very professional and they sold my business for almost full asking price.
TheEasyForms.com
VR exceeded my expectations in selling my online business. I got the full asking price of the business. We got several offers within the first couple of weeks. The entire process took less than 6 weeks from start to finish.
Should You Sell to or Merge with a Competitor?
A competitor approaches you and offers to buy you out or merge with you. Should you consider the proposal?
This is a very tricky question for which it is hard to generalize an answer. In some cases, a sale or merger with to a competitor could provide better financial rewards than a sale to a non-competitor, and create a much stronger combined entity, due to potential synergies. In other cases, it could be a disaster, no more than a pretext to gather confidential information about your company to use against you. Consider, for example, the dispute of Hawaiian Airlines and Mesa Air.
As noted in on our discussion of protecting confidentiality, mere rumors that your business is for sale can cause significant damage. Companies in your industry can wreak much more havoc, since they know the key players and may be in a position to take customers, suppliers or even employees from you. Of course most companies conduct themselves with integrity, but one can never be sure how any particular company will act.
Naturally, if you have no real motivation to sell, are very happy with your business as is, there is not much reason to consider a sale or merger. It’s unlikely the buyer will offer so much that your motivation will radically change.
But if you are open to the idea of a sale, it is worth at least listening to what the competitor has to say. Avoid revealing much about your business or anything confidential until you have a better sense of their seriousness, financial resources, price expectations, reputation for integrity and honesty, etc. Require the competitor to sign a confidentiality agreement before revealing sensitive information, and even then you need to withhold the most potentially damaging data.
Finally, get assistance from a professional business intermediary who handles these situations day in and day out. The mere consideration of a sale to a competitor could be one of the most critical and fateful business decisions you will every make. The vast majority of attempts of competitors to merger or acquire results in failure, and frequently in lawsuits. After investing 5, 10, 20 or more years of blood, sweat, tears and personal capital in your business, do you really want to wing it and risk it all without professional guidance?
