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State of the Company
Valued Representation... It's who we are, it's what we deliver.
Valued Representation is the service that we provide to our clients; it is the meaning behind our name; it is what every current and potential business owner deserves.
Since our founding in 1979, the people of VR have been committed to making a difference in the lives of hundreds of thousands of entrepreneurial-spirited individuals across America and around the world. Our business is, at heart, a people business. The culture in VR gives back to communities where we live and work; therefore, ensuring that we stay connected with the privately-held business owner. These are the people who drive economies, while waking up early and returning home late. These are the people who choose to believe in free enterprise, and deserve our respect.
Drawing on our heritage as the premier business intermediary organization in the world, we’ve clearly defined our market position as a company that helps clients either acquire or divest business enterprises. We measure our long-term success on our ability to deliver Valued Representation to our clients, surpassing the ever-increasing need for professionalism. We offer an inclusive environment for the entrepreneur to manifest that dream.
Peter C. King, VR CEO and
JoAnn Lombardi, VR President
SBA Reform
In 2009, we identified the economic challenges brought upon our company, industry and country, and participated with the International Franchise Association to reform SBA lending mandates that were damaging to the entrepreneur. By taking this proactive position, we were able to attend Franchising Day on Capital Hill, and meet with Senators and Members of the House of Representatives to discuss needed changes to legislation and lending reform. VR will remain a member of this lobby group not only until credit markets once again favor the entrepreneur, but also into the future so that proposed damaging changes to policy are stopped before affecting the American business owner.
Last year also justified our strong company position on education. As "business brokers" panicked with lending changes, professional VR intermediaries around the globe spent time educating and consulting both sides to business transactions on the benefits of other forms of financing available. This professional approach to dealing head on with important issues once again solidified VR's position as the industry leader.
The current attention brought to "Main Street" by our President solidifies the commitment for the past 30 years of VR to recognize and thank the privately-held business owners that are the driving force behind our great country.
VR Circle of Success
Our mission for 2010 is a clear one: We will continue to help our clients worldwide acquire, grow or divest their businesses. Many a competitor to VR makes similar statements, but how can these organizations make such claims while allowing their people to work from home, assist business owners on a part-time basis or while operating another company at the same time? The people in VR respect the hard work of the entrepreneur and are mandated to full-time professional commitment.VR has become one of the few companies to assist people during every phase of their business life. The VR Circle of Success begins during the acquisition planning, builds while in ownership and culminates with the development of wealth after a divestiture. During the year to come, we will continue focusing on serving the clients with the new product lines and services that take into consideration the times that we live in. Our core business has always been and will continue to be, the sale of privately-held business.
Expanding the VR Vision Internationally
Our international business is expanding rapidly, and we will continue to look globally for sources of future growth. In 2009, we added locations in Spain, Portugal, Panama, Mexico and Peru. This year, we have planned to open in two additional European countries and three markets in Central or South America.
The development of our international model is two fold. First and foremost is in-country success. This success comes from adjusting our business model for local law and customs, and then the education of the business owner to benefit derived from engaging VR. The second strategy contained in the VR international agenda are cross-border business transactions that link our global mind set to investors world wide. This dual approach to the future is attracting highly-qualified business people to the VR family.
Standing Together
It is important as an organization to have an open view to helping others. It was only a few years ago that Hurricane Katrina devastated New Orleans and the Gulf Coast States, and VR was there to help. That same year, Hurricane Wilma wiped out the corporate offices of VR in Fort Lauderdale. During the period of time when many companies worried only about themselves, VR helped locally to distribute supplies to those in our community. Every day, every month and every year, our organization aides in humanitarian causes for those less fortunate than us. Even in times of economic challenge such as 2009, VR, through its people, contributed both their time and financial resources to help others in countries such as Haiti, Africa and Chile.
Our history is an important reminder of what VR can achieve. Our organization has stood strong for more than 30 years. Through it all, we've been challenged, and we've aspired. We will grow and develop as we march into the future.
Our resolve for 2010 is a clear one:
Continue to help and respect people, through the people in VR.
On behalf of both of us, and intermediaries around the world, we remain,
Peter C. King JoAnn Lombardi
CEO President
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