VR Business Brokers located in Aspen, Colorado uses a comprehensive process to help business owners unlock value.
This process has been tested and refined over 40 years since our parent company’s founding in 1979. VR has sold over 70,000 businesses and the numbers keep growing.
Please take a moment to read about our selling process for Colorado businesses.
Our 5 Step Process to Sell a Business
1. Getting to Know You
At VR in Aspen, Colorado, we take time to learn about your business and to understand your business’ unique position in your market. We aim to understand the key aspects of your business fully. We also take into consideration key factors such as family circumstances, health issues, and other life events that may bear on the timing of your decision to sell your business.
We review your current and previous years’ financial results and balance sheets to determine the value of your business. We value your business from the perspective of a prospective buyer. We share our results with you, and together we discuss various possible offering packages to help you realize the best price and terms for your business. The sale of your business will likely involve bank financing, and in certain cases may require seller financing.
3. Buyer Research/Marketing
Our experience shows that selling a business successfully requires finding the right buyer. We use various proprietary and non-proprietary databases to research and identify prospective buyers who are qualified to buy and run your business.
4. Buyer Meetings
We conduct initial showings of your business after we complete an initial phone interview with each potential buyer and put in place a confidential non-disclosure agreement (NDA) with each buyer. The NDA protects the confidentiality of your business being offered for sale. The NDA also has a non-compete provision, which protects you from a prospective buyer learning about your business, deciding not to buy your business and instead starting a competing business with yours. After the NDA is in place, we then share just enough confidential details about your business to entice the buyer to make an offer for your company subject to the buyer completing his or her own due diligence and securing any necessary acquisition financing.
5. Offer to Purchase
We work with the prospective buyer to structure an offer for your business that we believe will meet your needs. Once we have an acceptable offer in hand, we work with you and with your buyer to prepare an agreement to purchase your business that typically includes a substantial deposit made by the buyer which is held in escrow during the due diligence period that immediately follows the signing of the purchase agreement. During the due diligence period, we stay closely in touch with you and with your buyer to keep the process moving to the closing table, at which time you will see your business exchange hands to its new owners and you will enjoy the gratification of getting paid for your years of dedication and hard work.
When you are ready to sit down and speak with us about selling your business, please call John Hornblower, Managing Broker, directly to arrange for a confidential consultation. John can be reached at (970) 429-8220. If you are not quite ready but would like further information or would like to ask us any questions, please email us at [email protected]. We look forward to hearing from you!