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.
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.
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.
The purchaser will need to carry out legal and financial compliance.
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.
Depending on how specialist your corporate business is, it may be appropriate to provide a handover period.