An organised approach will help you find and acquire the right business.
Conduct research on the sector that appeals to you, including identifying the optimal time for purchasing, and create a list of two or three potential businesses that meet your criteria.
Keep it quiet. Record everything important. The owner may not want the staff to know.
If you make an offer over the phone, it's important to follow up with a written confirmation. When drafting your letter, use the heading "subject to contract" and include this phrase in all written correspondence.
Before finalising the sale, it may be worth attempting to negotiate an overlap period. This will allow you time to get familiar with the business before taking over.
Both you and your solicitor should verify the information that you've used to make your offer. To ensure that the business is worth buying, it's recommended to conduct due diligence.
It's important to keep in mind that a deal can still fall through even after agreeing on the price and terms of sale. You must meet certain conditions of the sale before completion, which may include:
If you want to buy an existing business, please enter your details below. Our brokerage team will get in touch with you to discuss your requirements.