Are you interested in learning more about one of our for sale businesses? We can’t wait to help you! Here’s what you need to know about how to buy a business from VR Business Brokers…
Step One – Inquire: Submit an inquiry to contact the seller/broker on one of our businesses for sale through any of our listing sites, including our homepage www.RaleighBusinessBroker.com. Most of our for sale opportunities around the web have a “Contact the seller” or similar form fill box to put your contact information.
Step Two – NDA: You will receive an email response indicating that we’re requesting that you complete an NDA to get more information. Look for this email and complete the form, it may be in your junk mail folder. You can complete it on your phone or on a desktop, and you can sign with your finger on a mobile device or with a mouse on your computer.
Step Three – Phone Call: After receiving your completed NDA, we like to chat with any prospective buyer before releasing confidential information about our businesses for sale. As you can imagine, some buyers have no business buying the business they’ve inquired about! Please call us at (919) 628-0571 or return/accept our call for the “Verbal Screening.” It will take less than five minutes.
Step Four – CBR: After the brief verbal screening we will “Release” the Confidential Business Review, or CBR, that details the business. The CBR will include the name/address of the business as well as pictures, sales figures, and more. Our CBRs are normally between 10-15 pages. This report will answer 80-90% of your questions and create more questions!
Step Five – Prove Funds: Call us to discuss any remaining questions. When you are ready to meet/speak with the owner, we’ll ask you to “Prove Funds” that indicate that you could complete the transaction in full or afford a down payment that is acceptable to the buyer or a lender.
Step Six – Interview/Offer: After speaking with the owners and getting all of your questions answered, it’s time to make an offer. We can assist you with a form to make an offer or we can accept an offer from your business attorney.
Step Seven – Due Diligence: Once your offer is accepted by the seller, you can do your “Due Diligence.” Most people ask for the tax returns, but it’s completely up to you what you ask for to confirm that the representations are accurate.
Final Step – Closing!: As your closing date approaches, communicate with us about your status with financing and don’t hesitate to ask for help. We have many resources to assist with closing the deal including financing and legal professionals.
We are excited that you are taking steps to acquire a business with our firm. Thank you for choosing VR Business Brokers, and don’t forget to call us again when it’s time to sell your new business!