Sell Your Business

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 a 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, health or other regulations, can be overcome if known by your professional VR Intermediary