JoAnn Lombardi – Planning when Buying a Business

Importance of Planning when Buying a Business

By JoAnn Lombardi

VR advises to develop a business plan that can help ensure that you know what your goals are and how to achieve them. In essence, a business plan is a road map that helps you focus on the most important points.

Here are some points to consider:

Examining Your Objectives …

Evaluating Strengths and Weaknesses

  1. Marketing and Sales – Research distribution channels and pricing strategies;
  2. Manufacturing – Analyze product costs such as raw materials, labor and overhead, availability of materials, operational forecasts and condition and capacity of manufacturing facilities;
  3. Business’ Financial Position – Estimate the company’s future working capital and capital investment requirements, current talent and expertise and transferability of skills.

Neglecting the Business Plan can Result in Failure …

Read the full article at  The Importance of Planning when Buying a Business


Information on Owning a VR Business Sales Franchise – Videos & PDF Presentation


Understanding Intellectual Capital in a Business

Intellectual capital (IC) is just that: a capital asset consisting of intellectual material. As such, it is one of three forms of capital:
Financial capital;  Tangible or fixed assets, which include land, buildings, machinery, and other long-lived equipment; and Knowledge. To be considered intellectual capital, knowledge must be an asset – able to be used to create wealth. Thus Intellectual Capital includes: The talents and skills of individuals and groups; Technological and social networks and the software and culture that connect them; and Intellectual property such as patents, copyrights, methods, procedures, achieves, etc….

JoAnn Lombardi on Creating Your Own Luck in Business

Creating Your Own Luck in Business

By JoAnn Lombardi, President VR Business Brokers

On top of having a strong marketing plan, great location, great product, established customer base as well as other factors; luck also has a hand in determining the success of your business that you’ve bought or built.

There is such a thing as creating your own luck that can allow you to take your business to the next level …

… there are some parameters to keep in mind when trying to accomplish this:

Set Sharp and Clear Priorities

Maintain a Fuzzy Vision

Performing Reconnaissance for the Future

Jump into the action

Send out multiple probes

Examine anomalies

Feeling the Walls for Gaps


Read full article on  Creating Your Own Luck in Business


JoAnn Lombardi – Always Keep Good Books for Your Business

Always Keep Good Books for Your Business

Article by JoAnn Lombardi, Pres. VR Business Brokers

Have you ever wondered about the consequences when business owners don’t report all of the revenue that they’re creating? Business intermediaries know that buyers will only pay for what can be proven, so one ramification is the eventual selling price of the business will be lower due to the decreasing number of documented profits.

If we examine the predicted selling price, using the same methodology for numerous businesses for which we had performed valuations in the recent past – fair market values between $125,000 and $800,000. We repeat the valuations after reducing the gross sales, but not expenses, by approximately half the pre-adjustment cash flow to simulate the “dipping in the till” for each. The results would be completely consistent with the example above.

The point here is to never dip into the till no matter if you can get away with it because you will lose in the end when it comes time to sell. Keeping good books will keep you in the black and away from IRS scrutiny, no matter how tempting it is to take a little capital off the top.

Read full article Always Keep Good Books for Your Business


JoAnn Lombardi – Letter of Intent to Sell Your Business

Importance of the Letter of Intent to Sell Your Business

By JoAnn Lombardi

It’s very important to draft a written understanding of what both the seller and buyer think they have preliminarily agreed to.

It is important to use a letter of intent whether you’re the buyer or seller because both parties need to be able to reduce to writing the basis on which due diligence belongs to the buyer and seller.

Sellers should focus first on the business terms of the sale and then focus on the representation, warranties and indemnification expectations of the buyer.

The key is in the details.

Read full article Importance of the Letter of Intent to Sell Your Business

Contact VR with question about buying or selling a business at  1.800.377.8722


JoAnn Lombardi – 7 Questions When Buying a Business

Asking Yourself the 7 Questions When Looking to Buy a Business

By JoAnn Lombardi

1.) Are You Full of Self-Confidence?
2.) Do You Have Confidence in Your Desired Business?
3.) Can You Make the Sacrifices Necessary?
4.) Can You Make Hard Decisions?
5.) Can You See Opportunity?
6.) Do You Have Unlimited Energy and Stamina?
7.) Can You Carry the Flag and Lead by Example?

Read full article here  7 Questions When Looking to Buy a Business

Call VR Business Brokers for questions or assistance in Buying a Business at 1-800-377-8722


JoAnn Lombardi article on Choosing the Right Business as a Buyer

Choosing the Right Business for You as a Buyer

By JoAnn Lombardi, Pres. VR Business Brokers

When you are looking to buy a business, it is important to find the right business first before worrying about the right price.

How do you know which is the right business for you to buy? A good place to start is by speaking with a VR business intermediary that will lead you down the right path, based on your interests and needs.

On an intuitive level, you should begin to picture yourself running the business on a daily basis, and ask yourself the following questions:
  • Does it feel right to you?
  • Can you see yourself coming to this business every day for the next few years?

Your offer is based upon what you believe the business is worth to buy, which includes a down payment and terms of the payment agreement.

Read full article here Choosing the Right Business for You as a Buyer

For assistance in choosing the best business for you please contact one of our experienced VR Business Intermediaries at VR Offices Locations

For more information about owning a VR Business Sales Franchise visit VR Franchise  Webinar Videos