Buying or Selling a Virtual Assistant Business
Every now and again we get unsolicited emails sent to us, mostly considered spam but when one came through marked “Private and Confidential”, we took a read. This particular email was asking whether we were interested in selling Red Desk Ltd. Although this isn’t anything we are considering at this moment in time, it did get us wondering how do you sell a Virtual Assistant business?
According to the particular business sales advisor who approached us, there are strong levels of market activity and they have sold a number of businesses similar to ours. So, what are the different options? Well, it became very apparent that you need to see this from the perspective of someone who wants to set up their own Virtual Assistant business. From our own experience we know that this takes time to not only to find the clients but to also build your brand.
If you have the funds then the quickest way to buy a Virtual Assistant business is by purchasing a franchise. With a franchise you may get:
- Access to many resources including manuals, templates and other essential information to help you set up your business
- Training – either as a training manual, in-person training, mentoring, on-tap advice or on-going support from the business
- Strategies into helping you find clients – the company owners have made a successful Virtual Assistant business so know all the tips and tricks for increasing sales and getting you onto social media
- Supplier list – access to offers and deals from vetted suppliers
- Branding – this will include a website and all the logos you will need
Some of the main franchise options include Time Assistant and Pink Spaghetti. Sometimes there will be existing franchisees willing to sell on their current franchise which will include an established list of clients.
VA Businesses for Sale
There will be two main options for buying a Virtual Assistant business. One will come with a number of existing clients that you would takeover working with and the other will come with Virtual Assistants and their clients.
You may find that owners of small VA businesses wanting to either retire or go in another business direction will be selling on their client list, limited company details, website and related social media. This will mean that although you will have access to a well-established brand and pool of clients, there is always a small risk you can’t support all the clients in the way they want.
Therefore, Virtual Assistant businesses that come with Virtual Assistants readily-attached might be the best option. They will continue to support their clients whilst you get used to the way the business works and you can then take on new clients when time permits.
Whichever way you go, you may find these three articles of interest:
We’d be interested to hear from you of your experiences of either buying or selling a business. What would your advice be? Email firstname.lastname@example.org