Why use The Law Superstore to find solicitors to sell 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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Very pleased with service very polite and quick response
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I explained what l wanted to do he explained what the process would be, l was sent over the list of solicitors l picked one that was right for me l would use the service again and l will recommend to family. Thank you
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Informative. Polite. Helpful. Very competitive with high street solicitors. Happy to refer friends and family. Thank you.
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Excellent response
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I received several offers and was impressed with the level of interest and competitiveness.
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Completed the forms and had a call back within an hour was happy to go with the first caller great service would recommend
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Had competitive quotes from three solicitors. I decided to go with one that was based locally.
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How to sell a business
There are a few things to consider when you first start thinking about selling your business in the UK. It’s crucial to accurately value your business to ensure you receive a fair price. Seeking professional advice from lawyers and accountants who specialise in business sales can ensure a smooth and legally compliant transaction.
What's the best time to sell a business?
This depends on you and your circumstances. It’s important not to rush the process. The key is to be prepared and to have an excellent solicitor on your side to write up the paperwork and confirm all the details so you can feel confident.
How do I buy a business?
If you are looking to buy a business, the key steps are the same – look at all the financial information presented by the company and ensure that you have got legal and financial experts on your side to assess whether this is the right choice for you.
Frequently asked questions
Do I need a solicitor to sell my business?
Whilst you don’t legally need to have a solicitor in order to sell your business, a solicitor can provide valuable guidance and assistance throughout the process, ensuring that all legal requirements are met and protecting your rights and interests. A solicitor can help you navigate any potential legal complexities and ensure the transaction proceeds smoothly.
How much does it cost to sell my business?
The legal cost of selling your business depends on the complexity of the sale and how your solicitor works out their rates. Sometimes, a solicitor may take a percentage of the business sale value. It’s worth talking to your legal expert about how they charge for business sale work, as well as considering all the other costs like an accounting expert.
What does selling as a going concern mean?
Selling a business as a going concern means that the business is being sold with the intention of continuing its operations and maintaining its current customer base. When selling a business as a going concern, it is important to ensure that all necessary assets, contracts, and licenses are transferred to the buyer so that they can continue operating the business seamlessly.
How long does it take to sell a business?
An average timeline for selling a business could be 6-12 months, but you can speed this up by having all of your paperwork and financials in order, picking a great solicitor to help you process all the paperwork and choosing the right time to sell.
How do you value a business?
Valuing a business involves assessing various factors to determine its worth. One common method is the financial approach, which involves analysing the business's financial statements, cash flow, and profitability.
Another approach is the market approach, which compares the business to similar companies that have recently been sold to determine its value.
The asset-based approach values the business based on its tangible and intangible assets, such as inventory, equipment, intellectual property, and goodwill.
