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TWELVE ADVANTAGES OF USING THE PROPRIETARY VR SYSTEM TO SELL A BUSINESS
1. Exposure: The key in selling a business is showing it to the right person. A larger number of interested buyers means a higher price for your business. Because of the VR Network dominance in the marketplace, we have hundreds of buyers contacting us, and a database of thousands of prospects searching for businesses.
2. Advertising/Marketing: We know how, when, and where to advertise your business in order to attract the right kinds of buyers, while keeping the name and location of your business confidential. We advertise our engagements on over 100 business for sale websites, as well as our own VR website and our corporate website (www.VRBB.com), and in other mediums depending on the type of business. Each website charges a fee for their use, of course, but we pay for all advertising so there is no cost to you.
3. Confidentiality: The sale of your business will be handled confidentially. If your employees, competitors, customers or suppliers find out you are selling, your business could be damaged. We have developed a successful strategy to protect your confidentiality. We never disclose the name or location of your business until a buyer has been screened and has signed a confidentiality agreement. We never send buyers out to your business unescorted. We never put the name of your business in a multiple listing service for every part-time real estate agent to see. To help maintain confidentiality, we will schedule meetings before or after working hours if necessary. Everything we do is designed to protect your business and your confidentiality.
4. Time: It takes a great deal of time sifting through all of the inquiries and finding a good buyer. We do that 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 them your records and operation. We allow you to protect your business' value by spending full time running it.
5. Synergism: Advertising alone doesn't sell businesses. You need competent business brokers to get people interested in your business. Even experienced buyers often buy a different type of business than the one they initially inquire about! According to the International Business Brokers Association, only about 1% of buyers buy the business which they initially inquire about, and less than 30% even buy the same type of business they inquire about. We always get a good cross section of buyers, and then conduct in-depth interviews with them to determine their strengths and interests. When we find someone who is a good fit for your business, we steer them toward 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.
6. Proven Results: VR has sold more businesses than any other business sales organization. No one else can compare with our experienced network of professionally trained, full-time associates. Because of our experience, we have the knowledge to anticipate and solve many problems before they ever arise.
7. Follow Up: We follow up with buyers after they have inquired about your business, pointing out the suitability of the business for them and the advisability of their making an offer. We report buyers’ reactions to keep you posted on how your business compares with others on the market. Our follow-up after an offer is signed includes setting up due diligence, assisting in arranging the financing, removing contingencies, and coordinating both party’s legal, accounting, and other advisors, to ensure a higher probability of the transaction closing smoothly and in a timely manner.
8. Negotiating Power: We can pursue a buyer without damaging a seller’s negotiating position. Any time a seller contacts a buyer directly, it weakens their negotiating power. As a third party intermediary we can encourage a buyer to make a decision without implying in any way that the seller is anxious to sell. All of our associates are experienced negotiators; even if a seller is a seasoned negotiator, it really helps to have an intermediary between them and the buyer to preserve the good relations between them. Every buyer has advisors, relatives, etc. that may have negative feelings about the proposed purchase. We know how to spot this and handle these situations.
9. Risk Free - No Upfront Fees: We research your business and help get it ready for sale. This includes advising you on pricing and structuring the terms of sale, preparing a marketing package of information about the business, advertising your business, interviewing buyers, negotiating on your behalf, and doing everything necessary for a smooth sale. We do all this with no fee at all unless a buyer is found at the price and terms you agree upon.
10. 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.
11. Structuring Offers: 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.
12. Closing and Post-Closing Services: We’ll help make sure the closing occurs timely and that all details are handled properly. After the closing, we assist with attending to any details necessary to insure that buyer and seller remain satisfied with the transaction they have just concluded.