VR was founded in 1979, and CEO Peter King and his business partner, President JoAnn Lombardi, acquired it in 1999. “We bought it with the belief that, in a lot of cases, the industry does a disservice to its client base by acting as residential real estate agents rather than advisors to the needs of business owners,” King says. “We want to help people unlock the true value of their business before going to market and fulfill the needs of new entrepreneurs. We saw an opportunity for an industry to become a profession, similar to investment banking but directed at a client base made up of the family operated and founder-owned businesses.

 

“Our goal is to attract individuals who want a career they can be proud of while understanding the serious responsibility to transparency in the sale of a business,” he continues. “Maximizing or unlocking the true value of a business was a change in the industry. And this leads to the opportunity to become a boutique firm, rather than a mass-produced franchise, which ultimately meant we could move into lower-middle market and be seen as an advisor not just a broker.”

 

Once VR finds someone that is the right fit to move forward, the franchisee will go through a three-week training program. VR offers more than 75 online courses, along with regional training and annual conferences. In addition, VR builds and optimizes the franchisee’s website, sets up all necessary social media and markets them accordingly. “Our goal is to make sure our people are presented as the experts in the field and spend their valuable time representing buyers and sellers, not worrying about office management,” Lombardi adds. “We want them to build a business for their families that has value.”