Buy a Business
Our goal is clear: to maximize the value you derive from buying a business.
Choose to work with VR located in Charlotte, NC and its network of professional business intermediaries when acquiring a business, and team up with the world’s most premier firm.
For over three decades, VR’s leadership in the industry has set the professional standard by which all intermediary firms are measured.
When you choose VR, you receive unparalleled experience, unmatched resources and the most highly trained network of professional business intermediaries available anywhere in the world.
VR is committed to work diligently with every client as an advocate providing a comprehensive consultative approach to each and every business transaction.
Why Buy an existing Business? Because 60-70% of new business fail in the first 3 years.
Still not convinced? Most established businesses continue to succeed after being purchased.
At VR, we realize that finding and buying a business that matches your needs isn’t easy. In fact, the decision of which business to buy may end up being one of the most important decisions of your life. By working with VR and its Valued Representation programs, you have the advantage of dealing with a professional business Intermediary that combines his or her experience with the cumulative knowledge of the entire VR organization.
As an advocate, our goal is for each transaction to stand the test of time by satisfying the needs and ambitions of those involved. VR is a people oriented organization that has built its reputation by caring about people, listening to the needs of its clients, and leading both new and seasoned entrepreneurs through the detailed process of buying a business.
Understanding our role as an “Educator” and “Expert”, every VR Intermediary is patient and poised to answer questions like:
- HOW do I get started?
- HOW do I find a business that matches my needs and expectations?
- HOW do I get financial information from the seller?
- WHAT is a business really worth?
- WHO can I discuss my expected return on my investment?
- WHO will write the Purchase and Sale Agreement?
- WHEN should I get an attorney or accountant involved?
- HOW do I find “Valued Representation”?
When entrepreneurs buy a business they buy much more than inventory, equipment and fixtures. They buy a new lifestyle or an opportunity to expand into new markets. By working with VR, you have the ultimate advantage of working with professionals that care.
VR has a process for helping you through these questions to help you find the right business for you. Please contact us to get started today.
VR located in Charlotte, NC uses a multiple step buying process.
Your commitment to purchase a business at price and terms consistent with the marketplace that matches your needs and abilities.
You sign an agreement promising to maintain confidentiality for all the information provided to you on the businesses we discuss.
You provide us with information about yourself such as a resumé and financial statement. The more we know about you, the more likely we can find a business you will like. The more information we provide the seller, the better the terms he will consider.
Together we discuss and review various types of businesses and select some that appeal to you.
We introduce you to the businesses you are interested in and discuss the important factors of each.
We provide the seller information regarding your background, financial wherewithal, and professional experience. Favorable background information about you will result in favorable consideration of your offer.
We carefully explain the terms and conditions of the offer to the seller and decision makers.
A meeting between you, the seller and your VR Business Intermediary in Charlotte may take place. This gives you the opportunity to ask questions you may have about how the business operates and to describe your qualifications to the seller.
With our assistance, you write an offer to purchase on the business you like. A refundable, earnest money deposit will be required to demonstrate your seriousness to the seller.
All offers contain contingencies that must be removed before the contract is binding. Typical contingencies include your inspection of the books and records, the assumption of the lease and attainment of proper financing.
The seller accepts the offer to purchase as presented or writes a counter offer.
When buyer and seller agree to all terms and conditions of the sale, the offer becomes a Purchase and Sale Agreement.
You meet with the seller to examine the financial records. Any questions you have are resolved at this time. We work with the landlord to get an assignment of the current lease for you.
We provide all documents to the transferring agent or attorneys so they can prepare the closing documents. They make arrangements to assign any notes or equipment leases.
Arrangements are made for you and the seller to count and price the inventory (if required.)
All parties meet to sign documents.