State of the Company
Valued Representation… It’s the meaning behind our name; it’s what we deliver to every client.
VR Business Sales / Mergers & Acquisitions are proud of its heritage as the leader in sales and transfer of the privately-held business since 1979. It is even prouder knowing that it has helped hundreds of thousands of families live the American dream of business ownership. These same people are those who make up the business communities in every town and city, and who drive job creation and economies.
Today VR is evolving. Developing to meet the requirements of the entrepreneurial needs of tomorrow. To understand the vision for VR, first you must comprehend who we service as an organization.
Family owned businesses have the power to transform America, again. These are our people. On a daily basis, across this country, our clients apply their extraordinary potential to drive innovation, ignite competition, build and expand communities, and as a result improve the quality of life for all.
In the United States, existing “small” businesses (those with less than 500 employees) comprise 99% of all employer firms, therefore employing nearly 50% of the workforce, which accounts for more than 60% of the private sector’s net new jobs over the past two decades.
Our clients have been innovators, but as time passes these same individuals begin to focus on protecting their assets for the next stage in life. To liquidate these hard earned assets the business in turn transfers and the new owner will strive to boost productivity and competitiveness and therefore creating more jobs.
The importance of dedicating attention to the overall picture has VR evolving from a sales based organization to a boutique advisory firm that mandates a client first philosophy of helping the entrepreneur enter or exit business ownership. The sale or transfer of a business is still in most cases the end result, but it is how we operate as an organization that is changing and will continue to change if we are to truly fulfill the needs of our client.
Long gone are the days of trickery and deception to obtain listings of businesses we know will never sell near the asking price. The entrepreneur leans on us for advice and for a trusting relationship to develop there must be full transparency. We must look to the future and realize that this difference alone separates VR, but as an organization of professionals we have so much more to accomplish.
Business owners are or will become experts in operations of their own companies. What they need from VR is an advocate that can identify their needs when it comes to exit or entry and through education can assist in developing and implement a confidential plan. This responsibility can affect the outcome of people’s lives and is not for everyone.
No business ecosystem can be healthy and sustainable without an intentional means for addressing who should be part of the organization at every level. At VR we seek those who not only believe in mandates but also want to be part of expanding our client offering.
In our core business, VR Business Sales, from the beginning of 2016 through 2017 as an organization has seen our average sale price increase by more than 10% annually, our sell through rate of valued businesses has our top offices selling close to 80% of their business inventory for over 95% of asking price. This is no longer an anomaly, it is an expectation when being part of VR.
The growth of VR Mergers & Acquisitions has increased at such a rate that it was necessary to launch a new corporate web presence for the second time in less than 2 years.
Over the next decade we are committing ourselves to identifying and cultivating talent and leadership throughout the organization. This requires us to continue to embrace collaboration with those in VR and those joining, and while we operate with internal advisory groups we will build on subject matter.
Our destiny is crystal clear. We are going to be the organization turned to by the entrepreneurial community to help them unlock the true value they built in their companies, and in turn place qualified, goal driven people and investors into those same businesses when it is time for a transition. By accomplishing this vision we have supported free enterprise, helped families across the country, and helped develop new jobs for the workforce of the future.
On behalf of both of us, and VR advisors around the world, we remain,
Peter C. King, CEO
JoAnn Lombardi, President