At VR we are acutely aware of what it takes to sell a business. Preparing
the seller, and aiding the seller in preparing the business to achieve the
maximum gain from the sale, are two important roles of the professional Intermediary.
Owners sell their businesses for reasons stemming from retirement, partnership
disputes, personal relocation, family concerns, the desire for change, illness,
or to enter another business venture. Knowing the reason for the divestiture
aids your VR professional in structuring the most advantageous transaction.
VR turns to its professional alliances to help you seek the appropriate tax
strategy, succession plan, or investment strategy to again help you maximize
the benefit of the sale.
VR has identified specifics needed in order to aid a successful
transaction:
- Having provable books and records increases
the numbers of potential buyers
Buyers want proof of sales and profits the business has attained in the past
- Expectation of a reasonable price and terms
Educated buyers only consider competitively priced businesses.
- List of assets including furniture, fixtures,
and equipment
A complete inventory that can be referenced during inspection.
- Attractive lease
Knowing the terms of assignment or of a new lease.
- Best possible appearance
Having the business premises neat, clean and in good repair
- Valuing the business properly
A valuation on the business creates a document that proves value to the buyer
and shows the business to be competitively priced.
- Covenant not to compete
Preparing the terms of non-competition within an appropriate distance and
for an reasonable period of time
- Reason for sale
Buyers will want to understand the reason for sale and be comfortable that
there is not undisclosed information that could negatively affect their
investment in the future
- Time is of the essence
Be prepared to move forward when a qualified buyer shows interest in the
business.
- No surprises!
Most adverse situations, such as landlord problems, outstanding loans, tax
arrears, unfavorable equipment leases, and even non-compliance with zoning,
health or other regulations, can be overcome if known to your professional
VR Intermediary.
USE VR TO SELL YOUR BUSINESS NOW!
Contact us for more information.
