How To Buy A Business - A Guide

Looking to purchase a business? Buying a business involves a series of steps to ensure a smooth and successful acquisition. Below is a general guide on how to buy a business:



1.    If you are considering purchasing a business you should approach specialist business sale agents, specific to the sector you are looking to purchase. An alternative approach is to contact any businesses that you are familiar with which may be looking to sell.


2.    Once you do find a business to acquire, a summary of the main terms of the transaction will need to be agreed which are known as “Heads of Terms.” If there is a commercial agent involved, this will be drawn up by them or, otherwise, it will need to be draw up privately between yourselves and the seller with the assistance of your legal team.


3.    You will need to appoint a specialist legal team to then deal with the transaction on your behalf including carrying out legal due diligence and negotiating the terms of the contract for sale which will govern your acquisition.


4.    Liaising with your accountant to ensure they carry out certain due diligence to ensure there are no financial or taxation issues regarding your purchase.


5.    Your legal team will then take matters forward to exchange of contracts and completion and will deal with any associated property related matters involved in the acquisition and with any subsequent registration of the transfer of ownership of any property involved in the deal at the Land Registry.

If you require any assistance in relation to the purchase of a business in any sector, please do not hesitate to contact Andrew Foley-Jones, Sara Parry and Holly Wilkes in our Commercial Team; afj@macjones.com; sara.parry@macjones.com; and holly.wilkes@macjones.com