You will need to produce financial statements for the current year and the previous two to three years. Therefore typically you need at least three years of trading history before you can sell. We work with businesses of all sizes.
As you go through the process of selling your business you will need to appoint a team of professionals to ensure that you maximise the sales value and avoid any legal repercussions. You will need to appoint a UK transfer agent like Intelligent Business Transfer to manage the sale, an accountant and a solicitor to draw up the sales contracts.
We will arrange a meeting with you at a convenient location and time to provide a comprehensive valuation. We consider a range of factors when we value your business including recent adjusted earnings, location, assets and the type of industry.
Heads of terms is a document signed by both the buyer and seller outlining the details of the proposed deal. The purpose of the document is to allow the two parties to enter a period of exclusivity and prevent any misunderstandings further down the line. Both parties can still walk away as the contract of sale is still yet to be signed, although you will have the right to recover costs if the seller does pull out.
What are the first steps in selling my business? The first step in the process of selling your business is to meet your local Intelligent Business Transfer consultant to discuss your business, the sales process, our experience in your sector and a valuation.
Yes we will ensure that your listing will attract customers without revealing any detailed information about your business. Detailed information will only be revealed to potential buyers that registered with the website and agreed to sign a non disclosure agreement. Your dedicated consultant and negotiator will always show the uttermost professionalism, ensuring that we are discreet with every communication.