 | Businesses for Sale |
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| Buy vs. Startup |
| Steps to Business Buying |
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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
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.
20 Steps to Business Buying
VR's Proven 20 Step Buying Process for Buying an Existing Business summarizes the Buying Process and is an excellent "road map" for new buyers to understand before they embark on this exciting path of controlling their own future.
As discussed under The Buying Process section, our first step in working with you is to help you identify the right type of business for you. If you choose to pursue an existing business, we will support you every step of the way with our proven 20 step buying process.
Commitment. Your commitment to purchase a business at price and terms consistent with the marketplace.
Disclosure. You sign an agreement promising to maintain confidentiality for all the information provided to you on the business we discuss.
Background Information. You provide us with information about yourself, such as a resume and financial statement. The more we know about you, the more likely we can find a business you will like. The more information we promise to the seller, the better the terms he will consider.
Review. Together we discuss and review various types of businesses and select some that appeal to you.
Showing. We show you the businesses you are interested in and discuss the important factors of each.
Meeting. A meeting between you, the seller and us may take place. This gives you the chance to ask questions you may have about how the business operates and to describe your qualifications to the seller.
Offer To Purchase. You write, with our assistance, an offer or letter of intent for the business you like.
Earnest money is required to demonstrate your seriousness to the seller.
Most offers are contingent upon your inspection of the books and records of the business. The offer is not binding until you remove all contingencies.
Present Offer. We present your offer to the seller.
Background. We give the seller your background, financial information, experience and point of view in arriving at the offering price, terms and conditions. Favorable background information about you will result in favorable consideration of your offer.
Explanation. We carefully explain the terms and conditions of the offer to the seller and decision makers.
Acceptance. The seller accepts the offer as it is written or writes a counter offer.
Mutual Acceptance. When buyer and seller agree to all terms and conditions of the sale, the offer becomes a Purchase and Sale Agreement.
Inspection. You meet with the seller to examine the financial records. Any questions you have are resolved at this time.
Contingency Removal. You remove all contingencies in the Agreement. It is now a binding agreement.
Lease Assignment. We work with the landlord to get an assignment of the current lease or a new lease for you.
Open Escrow/Closing Lawyer. We provide all documents to the transferring agent or lawyer so they can prepare the closing papers.
Due Diligence. In most states and provinces the lawyer performs a lien search on the business to identify any secured creditors.
Note & Lease Assumptions. We make arrangements to assign any notes or equipment leases.
Inventory. Arrangements are made for you and the seller to count the price the inventory (if required).
Closing. All parties meet to sign documents
