Actually, the 1st question is: “Why use a business broker or business intermediary at all? … I can just sell the business myself!”
Credibility
Use of 3rd Party Business Intermediary or Business broker adds a tremendous amount of credibility to a business that is for sale. A Buyer will naturally be wary of information provided directly by the Seller, and may in fact not feel comfortable working directly with a Seller, particularly if they are not familiar with the industry. A Buyer will often assume that the professional Business Broker or Intermediary will have looked at, properly interpreted and provided a more accurate, complete description of the business.
Buyers are looking for anything that will make them feel more secure and confident in the business that they’re analyzing. This feeling of comfort is enhanced when the Business Broker / Intermediary is part of a large, multi-office organization – such as VR!
This feeling of comfort, security and overall greater confidence translates to a perception that the deal is less risky – which equals a higher price, more potential buyers and a faster sales cyle!
Confidentiality
Maintaining confidentiality is critical in the sales process of any business. If employees, vendors, customers or competitors become aware that a business is for the – the results can be catastrophic. Leakage of this information can both make a business unsalable, and ruin its ability to continue operating as is.
Maintaining confidentiality is exceptional difficult if the Owner attempts to sell the business himself.
Whereas a Business Broker / Intermediary will receive all contacts in a completed removed environment, can limit exposure by assuring that only appropriately qualified Buyers are allowed acces to information, and have legally binding Confidentiality Agreements in place before there is any contact with the Seller or information related to the business is released.
Marketing Scope
A key component of VR in Pasadena’s marketing efforts for virtually every business is direct, targeted communication to potential Buyers, often including competitors. This would be virtually impossible for a Seller to do himself.
Time Commitment
Marketing a business for sale takes a lot of time. From preparation of marketing materials and ads, to responding to NDA requests, then answering questions and interviewing interested parties. The Business Broker / Intermediary already has proven materials – that can be adapted to each business, and will do all of the above tasks for the Seller. They need only meet with truly qualified, interested Buyers.
Now that the necessity of the Business Broker / Intermediary is essential – “Why VR?”
It’s the Network!
VR is the largest, truly “networked” Business Brokerage firm in the country.
All of the VR offices use a common “listing system” and have Agreements in place to co-Broker all opportunities. For example – when you list a business with VR in Pasadena, every Broker in each of the VR offices instantly has all of the information on the business, which they can then share with their Buyers.
MIB Program
Most Importantly
VR Has Sold More Businesses in the World Than Anyone.®