BUYING A BUSINESS FAQS

SELLING A BUSINESS FAQS

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BUYING A BUSINESS - FREQUENTLY ASKED QUESTIONS

  • I am interested in a business; how can I see a breakdown of its income?

    Once you have registered with us and signed the necessary NDAs, subject to the seller’s discretion, we will supply you with the business’ most recent 3 years of accounts.

  • Will I retain all the business’ contracts?

    Unless otherwise stipulated within the sale description, the sale of the business will be inclusive of all its contracts.

  • Will I retain all the business’ staff?

    Unless the sale description stipulates an asset-only sale, the sale of the business will be inclusive of all its staff. Many sellers opt for a confidential sale to provide you with a high level of staff retention at the point of transaction.

  • I would like to make an offer, how does the offer process work?

    Our purchase process protects the interests of the buyer as well as seller. The offer will be put forward by the negotiator on your behalf allowing you to feel 100% comfortable with your acquisition prior to the purchase. The most obvious contingencies to your offer will be:

    • Inspection of financial records to your complete satisfaction.
    • Obtaining financing at a term and rate that is satisfactory to you.
    • Obtaining a lease that is satisfactory (if it’s a leasehold business)
    • Inspection of all the assets of the business to be acquired.
    • Obtaining all licenses and permits required to operate the business.
    • Discussions with key personnel to ensure that they will stay with you.
  • Can I talk with the owner(s) of the business prior to making an offer?

    We encourage a lively dialog between the business owner and the buyer. As confidentiality is vital to us, we require that any discussions with owners or management be done with our coordination. This process is critical to understanding the business in depth, but must be handled with delicacy.

SELLING A BUSINESS - FREQUENTLY ASKED QUESTIONS

  • How long will it take to sell my business?

    This time will vary greatly depending on the business. There are multiple factors to consider; how readily available you are to conduct viewings of your business, whether you have the right sort of solicitor, and how long the Due Diligence process will take. We advise sellers on every step they can take to speed up the process.

  • How important is confidentiality?

    Confidentiality is vital to maintain the level of staff and client retention throughout the sales process, with most of our clients opting for a confidential sale.

  • How would you appraise my business?

    One of our experienced associate directors will pay you and your business a polite visit and conduct a business appraisal. It is in this appraisal where the fundamental details of the sale will be agreed, such as the tenure. During this appraisal, the associate director will conduct a market appraisal for your business, and a guide price will be set. This appraisal will be based on both the details of the business, and the current market climate corporate businesses.

  • What will be involved in the due diligence process?

    The purchaser will need to carry out legal and financial compliance.

  • What documentation would a potential buyer want to see?

    A potential buyer will more than likely want to view your past 3 years of full trading accounts and a comprehensive asset list, in addition to copies of any relevant insurance certificates and licences.

  • Do I need to provide a handover period?

    Depending on how specialist your corporate business is, it may be appropriate to provide a handover period.