VR BUSINESS BROKERS FRANCHISE OPPORTUNITY
VR State of the Company Video by Peter King CEO & JoAnn Lombardi President of VR
You can also view our VR Franchise Webinar Videos here which explain many of the tools and training included in the VR Business Brokers Franchise.
http://www.vrbusinessbrokers.com/franchise with Business Sales Franchises available in the US, Canada, and Worldwide.
You can contact VR Headquarters at 1.800.377.8722 to find out more details about the VR Franchise opportunity for your area.
VR in Dallas, Texas franchisee Jon Peters recently facilitated the sale of a commercial debt collection company for $4.4 million.
This was a tremendous deal, considering the challenges that arose with the business where revenues and net income had been declining consistently for the past four years.
“When we first listed this business, the numbers looked somewhat decent with $1,787,000 EBITDA on $4.4 million in revenue,” said Jon. “These numbers were down from the previous two years from $5.4 million in revenue and $2.1 million in EBITDA.”
According to Jon, the owners had felt they had reached the bottom and now were on the rebound to make this business sellable.
“We began marketing and found a very unique buyer that was willing to pay $4 million down and a $1.4 million carry for 5 years,” said Jon. “This was a great deal for the sellers. The buyers had located funding that was based on the business’ ability to create new jobs; therefore, receiving the loan based on this scenario.”
The parties were in the process of negotiating the last items on the purchase agreement when the bottom fell out.
“We received the updated financials for 2010 that had the business pacing at only $3.6 million in revenues and about $1.1 million in EBITDA, down by almost $700,000 in net income,” said Jon. “This immediately stopped the sale and created an almost impossible new challenge for us in selling this business.”
With the original buyers dropping out of the sale, Jon started marketing the business at a new asking price, based on the current numbers. They were able to find an Angel Fund Investor who was looking for a company with a call center that could be grown overseas, and saw this as a perfect fit. After two months of what Jon calls, “late-night phone calls with attorneys on both sides and multiple face-to-face meetings,” they closed on a $4.4 million deal for the seller with $3 million at the time of closing and a five-year payout on the balance in a consulting agreement.
It was a great transaction for the VR Dallas office, where they were able to overcome the challenges that the business faced with the declining numbers. Upon reviewing this deal and others that they have done, Jon says, “I am convinced that almost every business is sellable if you can find that right buyer.”
The VR team in Dallas, Texas has been successful since opening the location. They recognizes the financial and professional goals that can be accomplished as a VR Business Broker office facilitating the sale of small, mid-sized businesses with mid-market transactions.
See the video below where VR Dallas talks about the experience of owning a VR Franchise:
For more information about owning your own successful VR Franchise please contact VR Headquarters at (800) 377-872.
For a quick review of the VR Franchise please see the VR Franchise Webinar slideshow presentation
Selling A Business Video – as featured on KSN NEWS
WICHITA, Kansas – Buying a business can free you from punching the time clock and answering to a boss. And the first step to success may be to hire a business broker.
Kelly Mar is selling a business she has run for five years. It’s not because the two locations of Chelmsford Tea aren’t profitable. It’s because she’s a full-time officer and pulls the overnight shift with the Wichita Police Department.
So Kelly hired business broker Steve Fischer to help her sell the business. He helps educate first-time business owners on what it takes to run a successful business like Kelly’s.
> Video and story from KSN NEWS
For more information about owning your own VR Business Brokerage Franchise please contact:
Toll-Free: 800-377-8722 or 954-565-1555
Director of Franchise Development
VR Business Sales, Mergers & Acquisitions
This is a Video Interview with one of the many satisfied VR Business Franchise Owners.
Scot describes some of the benefits he experienced from owning a VR Mergers & Acquisitions Business Franchise to sell businesses in the U.S. and Worldwide.
This is a unique franchise opportunity to join a proven and successful organization.
Please click on VR Franchise Information Request to receive more details about this unique opportunity.