Three toy dinosaurs stacked on top of each other with a blue background. Accounting advice

Selling a Business

Thinking of selling your business, sending the kids to boarding school and disappearing to an island near Fiji?

How we help

Get financial and legal help from the start in one of the biggest moments in your life.

We’ll help you understand why you’re selling your business and outline how to reach your end goal.

With your end goal in mind, we’ll advise you on how to get your business in the best possible shape with a business plan to help you achieve an ambitious but achievable price.

We’ll use our network to advertise your business to buyers or help your internal team with their funding options for a Management Buy Out.

Our legal team will take care of the due diligence process and draw up a purchase agreement to ensure a smooth and successful sale.

selling a business

Get prepping

Seek advice early to plan your exit strategy. Getting prepped should start years before you intend to sell…

It will likely be the biggest transaction you’ll ever make in your lifetime and we can hold your hand on the journey.

Once you’ve explored the different options, we’ll help set a clear plan to achieve your goals

Selling a business

Will I inherit the office dog? What about the Leather Sofa monstrosity in reception? All valid questions.

To put it in its simplest form, when you buy or sell a business, you inherit anything that’s essential to running the business. That includes working capital, furniture and fixtures (unfortunately for some), equipment, property, contracts, vehicles and goodwill. What do we mean by goodwill? It refers to the customer base, the business’s reputation and relationship with suppliers and partners. The elements that are excluded are any personal investments or assets, long-term liabilities like mortgages or loans, taxes or anything owed by shareholders. Each sale is unique, and the contracts drawn up are personalised to include or exclude anything agreed by both parties.

There are plenty of websites out there that reduce valuing a business down to a few easy sums. But the truth is, it's not that simple.

There’s much more involved to give you the all-important number. The main element that sets you on the right path is using someone who understands your business, inside and out. A more useful question is what affects the value of the business? Turnover, profit, debt levels, customer base and demand all play an important role in the business valuations. But there’s also plenty of external factors that are less concrete such as market conditions and the state of the industry you’re in. In essence, valuing a business takes lots of consideration and there are tonnes of variables that influence it. A lot of businesses will need a valuation at some point – whether it’s to seek investment, to prepare for sale or to even work out how a business will be split if one of the owners decides to part ways. With our legal and corporate finance team, we’re able to assess your business, take a look behind the curtain and dig into the numbers so we can give you a realistic value for your business.

The phrase - 'how long is a piece of string?' comes to mind for this one..

But it’s a valid question that business owners will want to know before they embark on the path of selling or buying a business. In terms of the actual deal itself, it can take anywhere between 6 and 9 months. The length of time it takes varies depending on several factors. The size and complexity of the business, market conditions, the level of interest from potential buyers, and the readiness of both the seller. With the right preparation, an eye for the details and well-structured business plan, business owners can increase the chance of a timely sale. Ultimately though, the time it take is unique to each individual case.

Speak to an expert

Lorraine Fitzpatrick

Business Development Director
Get in Touch

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