A potential buyer would like to see a license of practice. They would also like to see relevant details of the business, such as additional qualifications and insurance certificates. Above all, ensure that your company accounts are impeccably maintained for the last 5 years.
There is not a definitive timeframe for how long it will take to sell a business, however this timeframe will vary depending on what kind of business you own, and also on what your requirements are. We are always on hand to give you valuable advice that will significantly speed up your sale process.
Get your legal firm into the best possible shape before a sale. Action any outstanding complaints and make sure that all your records are up to date. Make sure your internet presence is spotless, if you have any negative reviews, deal with them. It is essential to begin an exit planning strategy at an early stage for a successful deal.
In order to handle the sale effectively, consult external legal advice and accountants. It may be tempting to call upon your own expertise, however many sales fall through due to not seeking the correct assistance.
Our legal market analyse has indicated that buyers require a minimum turnover threshold of £250,000 per annum and at least 2 partners or directors within the company.
Our selling process enquiry will be handled discretely and professionally at all times. Remember, we work for you and will be already on your side!
This is the most popular question asked by small law firms. Our advice is usually to consider both, but with the option to extract yourself in the short to medium term if you choose.