Sale Process

 

Steps in Process

 

Here is a brief overview of a typical business sale process (this is a guide only and some differences do occur between transactions):

 

  • You make the decision to place your business on the market.
  • We meet with you to review the business. Following the meeting, we would provide a realistic opinion of the likely selling price for the business and the expected demand from buyers.
  • If the likely sell price is acceptable to you and we are confident that the business is saleable, you engage us to sell the business.
  • A marketing program and budget are agreed upon and the program is implemented.
  • Enquiries are received and each prospect signs a confidentiality agreement.
  • Prospects are provided with preliminary details on the business.
  • Prospect has a site inspection of the business.
  • An offer is made by the prospective buyer.
  • Once offer and details of the offer have been agreed, the purchaser and his/her accountant conduct due diligence on the business.
  • If everything checks out, the the seller’s solicitor will draft a contract.
  • Purchaser pays a deposit (usually 10% of the purchase price).
  • Contracts are signed
  • Landlord approval and lease transfer are arranged.
  • Training period starts.
  • Settlement – ownership passes to the purchaser.




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