Why use The Law Superstore to find lawyers to buy a business?
- Expert solicitors across the country
- Vetted and regulated by the SRA
- Over 100,000 people helped
- Instantly compare quotes from up to 4 solicitors
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Had competitive quotes from three solicitors. I decided to go with one that was based locally.
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Very helpful which saved a great deal of time & expense with international phone calls.
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Excellent service. Came up with options, and we will be going ahead with one of recommendations very soon.
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Thank you for your advice. Very professional and helpful.
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Good response and all legal professionals who took time to speak to me were very knowledgeable. Good cost comparisons with all companies.
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I asked a general question about transferring the ownership of a house. The response was fast and provided me with the information I was looking for. Thank you.
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Very knowledgeable and honest advisor. Called exactly when planned with advance notification of the pending call.
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I was contacted by three companies very quickly offering their services. I decided to go with the first one that contacted me. They are now in the process of preparing the paperwork.
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I found making my LPA easy with the help of the law superstore, great service.
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Quick response very helpful
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A good response with avenues for me to consider. Thanks.
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I highly recommend this company very professional and made the whole process very easy.
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All 4 of your recommendations got in touch the same day and we are happy to use one of them.
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Very professional and great service
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Very prompt and very helpful.
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Very pleased with the advice.
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Thanks, it is really helpful and professional staff
How to purchase a business
As the purchaser, you’ll first need to reach out to a legal expert who will support you through the process. Your solicitor can also support you in the negotiations, offer their advice on the agreement, and mitigate any risks to ensure your purchase is protected.
Once the exchange is complete, you will inherit the business’ assets, such as its possessions, investments, employees, and the property.
Purchasing a business
If you’re interested in purchasing a business, you’ll need to seek professional advice to guide you through the process and arrange your finance with a lender. They’ll want the business’ particulars and financial information, and information regarding your own personal assets and liabilities.
Selling a business
If you are selling your business, you will also need an expert solicitor to guide you through the process, and ensure the transfer is legal.
Your solicitor will check all agreements and paperwork and advise you on whether the deal is solid.
Frequently asked questions
What is the purchase of a business?
The purchase of a business is the act of buying or acquiring a business with the intention of continuing its commercial operations. Whether you’re buying as an individual or on behalf of a company, legal expertise is a must.
How long does it take to buy a business?
The length of time it takes to buy a business can depend on the situation. Variables can include the landlords or investors involved and must be considered when calculating the purchase period. It’s best to allow for 4-6 weeks between the start and completion of the process.
How do you value a business?
Valuing a business prior to purchase is extremely important so that you don’t overpay and are aware of exactly what you’re getting in the deal. A financial advisor is a key member of the team here and can advise on the value of different assets. Your solicitor will also be able to guide you through the valuation before you purchase the business, highlighting any concerns, or any points where you need to ask more questions.
Do I need a solicitor to buy a small business?
Whether the business you’re buying is large or small, it is vital that you have a solicitor at your side throughout the process to ensure the exchange is valued correctly and that the purchase agreement meets both party’s desires.
How do I choose a great solicitor when buying a business?
With an important purchase you will want to feel confident that you've got an expert on your side. We recommend checking their experience in business purchases, asking for examples, checking reviews online, and spend some time speaking to your potential solicitor, to see if they offer everything you expect. Have a look at our guide on choosing a solicitor.
