8 Step Process

Step 1 – Getting to know you

The foundation of our business is getting to know you and your business. We firmly believe that understanding your background, your values and reasons for wanting to step away from your business are vital to a successful transition for both parties. We will work together to identify the key requirements for a successful handover and we will help you to understand your options.

Step 2 – Confidentiality Agreement

A non-disclosure agreement is a contractual promise not to disclose the content of a conversation to other people. We will promise to keep all the information we receive confidential throughout our dealings with you, regardless of whether the transaction goes ahead or not - we will uphold this promise. We ask that you make the same commitment to us.

Step 3 – Gather Information

We are interested in knowing how you would improve the business in the future. After all, you are best positioned to tell us about your business’s strengths and weaknesses. We would like you to help us understand your business and to be confident that our valuation is complete and accurate.

Step 4 – Valuation & Offer

Fairness and respect are at the heart of what we do, hence why we will always offer you our best offer. We think it would be entirely wrong to sour our relationship by price chipping or negotiating unfairly. Our deal structures are entirely cash-based and will be paid predominantly on completion, with an element of deferred consideration. However, given the wide range of requirements from owners, we are flexible in our approach to every business. Once you are happy we then draw up a Letter of Intent (LOI).

Step 5 – Letter of intent & Exclusivity

The LOI that will ensure everyone involved has a clear understanding of what has been agreed. It is worthwhile to spend time at this stage of the process because it will ensure that any issues are highlighted and dealt with, before they can develop into uncertainty. In addition to this, the LOI provides an exclusivity period (around 90 days) during which our lawyer and accountant will carry out due diligence. We recommend that you contact a lawyer to act on your behalf at this stage.

Step 6 – Setting Exit Date

We will set a date to complete the contract for the agreed transaction. This is usually 90 days after signing the LOI.

Step 7 – Completion

Once the legal process is complete, the formal signing will take place. This can be done in-person or electronically. The funds will be sent to your bank and the transaction is completed. The new beginnings! It is our policy to encourage sellers to remain working in the business for a period after completion in whatever capacity suits them.

Step 8 – Post Completion & Future

We believe that people are the real value in business which is why we will spend time getting to know all employees to understand the current procedures and to identify best practice that could be used elsewhere in the business. Where appropriate, we will introduce new processes to enhance efficiency and customer service. We will create a training plan to ensure that these changes are introduced smoothly and listen to employee's feedback.

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