NEGOTIATION DONE RIGHT!

Getting a good price for your business is, of course, one of your primary concerns. This starts with valuing the business accurately. You need to do this part with your head, not your heart. You’ve worked hard to build a strong business and accurately valuing the opportunity can be a deciding factor in completing a transaction. You should engage financial professionals (e.g. an accountant or qualified business broker) early in the process and before you sign a Contract to ensure that you are happy with your sale price. We are not able to provide you with financial advice or comment on how your sale price was calculated. Typically, many business sellers and buyers will attempt to negotiate the terms of the Contract between themselves. Whilst this can be a useful cost-saving activity, it can also be fraught with danger if those “negotiations” are recorded in writing or become contractual in nature before legal advice is obtained. We can help you to prepare a heads of agreement (or an agreement to enter into a Contract) to record the “nuts and bolts” of the deal, before the actual Contract is signed. From a legal perspective, we will ensure that your Contract correctly reflects the negotiation and agreement between the parties. We will point out the hidden costs of a business sale and point you in the right direction.