Looking to buy or sell a business?
We’re experts at ensuring your transaction goes as smoothly as possible. We can help you during any stage of the business transaction, providing high quality legal advice
What does our service include?
No matter what part of the business sale or purchase you’re at, we can help in a number of ways including:
- Company formation
- Incorporation services
- Register for VAT
- Tax advice
We make it our duty to get the best price for your business – whether buying or selling. It doesn’t matter whether you’re making a multi million pound turnover or you’re a small, family-run business, we have experience with companies of all sizes. At 174 Law we have extensive experience in all sorts of industries including ecommerce, retail, technology companies, education and more.
Selling your business
It’s advisable to hire a top quality solicitor when selling your business, so you can secure a clean cut and profitable deal. We recommend hiring a solicitor as early as you can during the selling process – this is so you get the right advice and avoid any liabilities.
You may be wondering how much your business is worth. Here are a few factors that could affect your valuation:
- Profit growth: If your business boasts continual growth and consistent sales then a buyer is more likely to pay more if they see success rather than a company with erratic results
- Niche industry: In other words, what’s the scarcity value of your business? If there aren’t many companies that sell similar products or services then you could see the price payable increase significantly
- Customers: If you only experience big profits when you’re holding a one-off sale or offer, then this could affect the price of your business. If you only rely on a few customers for a small profit then now may not be the right time to sell your business. If you’re unsure please get in touch with us today.
- Salaries: If the buyer’s company pays a higher salary to employees you may need to consider whether the buyer will need to bring your employees to the same threshold after the purchase
- Previous results and finances: This includes a whole host of measurable factors such as return on investment, cash flow, sales, liabilities, net asset valuation and more.
Buying a business
Buying a business is one of life’s most exciting times in anyone’s career – and the next step is to make sure you have the right support and backup from a prestigious solicitors. Some people will go with a solicitor they already know, but it’s vital you hire a team with business know-how and experience. We’ve successfully dealt with hundreds of business clients over the years, we’re familiar with various industries and sectors.
Before deciding to buy a business it’s essential to consider a few factors:
- Have you conducted the appropriate market research into your chosen industry?
- Does the business you want to buy relate to any of your current skills, businesses or activities
- Is the business local or does it involve long distance travel?
- If the business is far away, could you run the business from home / your own office?
- Are you going to keep the existing employees, client contracts and supplier / distributor contracts? Or will you bring in your own?