What to Expect

Content: At VR Bentonville, we are acutely aware of what it takes to successfully sell your business. It all begins with your commitment to sell. Specifically, that means understanding the value of your business and being prepared to act at a price and terms that are consistent with the marketplace.

Documentation:

  1. Providing accurate and complete documentation is required.
  2. Proving the profitability and viability of your business is vital to closing the sale with a qualified buyer.

Valuing Your Business:

  1. The most essential step when preparing your company for sale is a detailed evaluation of its market value.
  2. Although many business owners may know what they want for their business, in actual practice, they rarely understand what their business should realistically bring on the open market. We have the required expertise to accurately determine a narrow and reasonable range of values you could expect to receive for your business.
  3. In addition, we will ensure that you fully understand why that value range makes sense prior to taking your company to market.
  4. Knowing the market value of your company is the only way for you to objectively gauge your offers.

Marketing:

  1. One of the most difficult aspects of selling your business can be summed up with this one question. How do you market something when you don’t want anyone to know it’s for sale?
    • VR has over one hundred and fifteen offices nationwide; we can discretely market your business opportunity to wide array of qualified buyers giving you national and/or international exposure all while maintaining your confidentiality.

Qualifying Buyers:

  1. You’ve got enough to do each day just being occupied with the operation of your business.
    • Our experience in dealing with prospective buyers saves you time, energy and aggravation ensuring that your potential suitor has the financial ability and necessary business acumen to complete the transaction and carry your business into a bright tomorrow.

No Downtime:

  1. As potential buyers express interest in your business opportunity, you are asked to do what you do best…run your business. We will engage the buyer and field their questions prior to a face-to-face meeting with you.

Meeting:

  1. Once your VR Intermediary has determined that you have a viable buyer and the initial questions have been answered, a meeting will be scheduled between you and the interested party.
    • You will never have to meet a buyer without your VR representative present.
    • This meeting is an excellent place for you to get a first impression of the buyer. (Keep in mind that the buyer may be seeking installment terms from you as the deal progresses.)

Financing:

  1. In a word, obtaining financing can be “challenging”. If necessary we will assist the buyer in locating an appropriate lending institution. VR Bentonville has literally hundreds of specialized lenders who provide capital specifically for business acquisitions.

The Offer:

  1. We will negotiate a reasonable offer to purchase from the buyer on your behalf which will be presented to you with accompanying earnest money.
  2. Any offer to purchase will be thoroughly explained in clear, concise terms. You will have ample time to review the offer or seek professional counsel.
  3. After adequate consideration you may choose to:
    • Accept the offer as written
    • Form your own counteroffer
    • We will provide suggestions to assist you in constructing your counter.

Acceptance:

  1. It is during the offer and acceptance phase where your Intermediary’s experience is most valuable. He or she will use their training and negotiating skills to create a mutually acceptable agreement.
  2. Once you and the buyer have settled upon price and terms the agreement becomes a contingent purchase and sale contract.

Due Diligence:

  1. In privately held sales, the buyer is obligated to make the offer prior to verifying representations made during the marketing period.
  2. An inspection period known as due diligence will follow.
    • During due diligence the buyer will be granted access to any and all information required to substantiate marketing representations for accuracy. *Note – There is no faster way to lose your deal than to surprise the buyer with hidden facts in due diligence.

Contingencies:

  1. Once you have successfully emerged from due diligence your VR representative will go to work removing contingencies; an offer can be contingent upon a multitude of different criteria once those criteria have been satisfied they must be removed from the contract.

Closing Documents:

  1. Clients may choose to use universal documents, standard in the industry and approved in the state of Arkansas, or you may choose a business attorney to prepare your closing documents.

Escrow:

  1. The escrow agent will perform lien searches, title searches, certificates of good standing, fictitious names etc.
  2. Upon receipt of certified funds from the lending institution, escrow will distribute them according to the directions on the closing statement. Once the documents pass formal inspection and have been accepted by all parties, the funds will be delivered and possession given over to the buyer.

Congratulations! You are now on your way to your next great adventure