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The Buying Process
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THE 10 STEP BUYING PROCESS

1. INITIAL CONSULTATION. An opportunity to discuss Buyer goals, interests, past experience, education, skill set, and financial consideration.

2. CONFIDENTIALITY. Buyer signs an agreement maintaining confidentiality regarding the information provided on the business opportunity disclosed.

3. DISCOVERY. Presentation of opportunities that best meet Buyer's criteria. Limited disclosure of financials, operations, and management are provided.

4. MEETING OF PRINCIPALS. Joint meeting involving your VR Advisor with the Seller to further understand the operations of the business opportunity.

5. OFFER TO PURCHASE. An Offer to Purchase Contract is drafted on the Buyer's behalf encompassing all necessary contingencies such as financial due diligence, lease assignments, supplier agreements, customer contracts, representations and warranties, as well as Buyer financing requirements. This Offer to Purchase Contract is dependent upon all contingencies being removed. The Offer to Purchase Contract is accompanied by an Earnest Money Deposit.

6. NEGOTIATION. Your VR Advisor plays a critical role in the negotiation process. VR Brokers are highly skilled in a variety of negotiating tactics and strategies ensuring that the best possible deal is achieved.

7. MUTUAL ACCEPTANCE. A successful negotiating process leads to a mutual agreement on terms and conditions. The Offer to Purchase Contract is duly executed and a time line is initiated for the removal of all contingencies.

8. DUE DILIGENCE. The due diligence period, as outlined in the Offer to Purchase Contract, allows for a thorough inspection of all aspects of the business and its operations. Forensic Analysis of financial records, contracts, employment records, supplier agreements, intellectual property rights, buildings, equipment, inventory, leases, operations, licenses, etc are conducted during this period.

9. CONTINGENCY REMOVAL. Contingencies as stated in the Offer to Purchase Contract are fulfilled and subsequently removed.

10. CLOSING. Buyer takes possession of the company he has purchased.

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