Article by JoAnn Lombardi, Pres. of VR Business Brokers
All business owners will one day exit their company. This fact is inevitable. Therefore the sale or divestiture of the business is one of the most important decisions an owner will ever undertake.
Every step in a business sale demands an extremely specialized effort, and at VR we know that there are no shortcuts to a successful transaction. Transition to an entrepreneur about to sell a business, means exploring new options in life and making a decision to change. Owners of businesses view this decision to sell as an opportunity to reap the rewards of years of sacrifice, dedication, and hard work.
Making quick, objective decisions comes naturally to the business owner. So why is the decision to sell the company so difficult? Because it’s made by weighing the advantages of moving on against the time and energy that’s been devoted to growing to operation. The decision to sell a business usually goes far beyond the economics. It involves defining lifestyle, and redirecting personal energies, resources, and values into the next stage of life.
The VR organization prides itself on recognizing the importance of being a trusted advisor to our clients. VR intermediaries around the world guide business owners through the transition of divesting their businesses. Individuals joining VR have made the commitment to a profession that over the next 25 years will aid over ’70 million “Baby Boomers” change from corporate careers to entrepreneurs and from entrepreneurs to retirement.
Hundreds of thousands of businesses change ownership each year, and though the reasons for selling vary, there is one common goal…maximizing the proceeds from the sale. This is what a VR business intermediary is trained to achieve.
VR defines small business sales as those transactions with a value of less than $2 million. As you begin your new profession this is the market place that most people gain their experience. For the past thirty years, twenty percent of the businesses in this value range change ownership ever year. That’s 1 in 5, in every town, in every city, in every state. That’s the market and opportunity for successful business intermediaries.
Valued Representation of a business by a VR intermediary is a complex process that is fulfilling emotionally and financially upon successfully completing a transaction. As a VR intermediary you will be trained in a manner that draws upon years of substantial knowledge, professional experience, and success.
Upon joining VR you will be trained on how to:
- Build an inventory of quality businesses to sell
- Value and price a business
- Formulate different transaction structures to maximize value
- Prepare a VR Business Profile
- Confidentially launch a marketing campaign
- Educate buyers and sellers on the transaction process
- Recast financial statements for the privately-held company
- Facilitate negotiations
- Prepare all necessary documentation
- Navigate successful due diligence
And of course… how to successfully close business sales!
As a professional VR business intermediary you will manage the process of selling businesses with the goal of successful transactions, while the owners continue to manage their businesses. You will be an invaluable advisor during the process, offering proven valuation and marketing techniques, along with unmatched negotiation skills.
VR offers extensive training to all of the VR Business Franchise owners. Through the VR training specific methods and techniques on every aspect of being a successful business broker are covered in full detail.
For information on how to become a VR Business Broker and open a VR Business Franchise office, please call (800) 377-8722 or visit Owning your own VR Business Franchise, also visit VR on Facebook at VR Business Franchise Facebook Welcome page and VR Franchise Facebook Updates.