Ensure Your Success with our Business Sale and Purchase Services
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Are you looking to purchase a new business, or have you finally decided to sell? Both can be a daunting and life-changing decision. We specialize in guiding Adelaide’s business community through the critical processes of buying and selling businesses.
Our expertise in commercial law ensures a smooth, confident transaction, whether you are stepping into a new venture or transitioning out of an established one. At Stanley & Co. Lawyers, we tailor our services to suit your needs to guide you through a seamless process that will make you feel confident about signing off on a deal that you’re happy with.
Stanley & Co have helped numerous clients in the sale and purchase of businesses from multi-million-dollar inter-state businesses, Dental Practices and other health care providers, through to franchises.
We ensure that your transaction is as smooth and painless as possible, whilst also safeguarding you against any future risks, so that your business starts off with success. Alternatively, if you have decided to sell your business, we will ensure that you receive the appropriate value for your hard-earned work. Book a free no obligation 30 minute consultation to learn how we can help you with buying or selling a business.
Helpful Questions & Answers
HOW TO BUY A BUSINESS
Generally, there are 2 types of business sale and purchase:
- Share sale – The purchaser buys the shares in the vendor’s company for which we also recommend a shareholder agreement to guard against shareholder disputes in the future;
- Asset Sale – The purchaser buys the assets (including the goodwill such as intellectual property) of the business.
WHAT STEPS ARE INVOLVED IN BUYING OR SELLING A BUSINESS?
Before embarking on the process of buying or selling a business, we want to make sure you are making a fully informed decision by considering the followings steps together:
- Due diligence – business valuation, market research, financial reports and forecasts
- Purchasing structure – will you buy the business in a company, trust or as a sole trader
- Contract negotiations – deposit requirements, finance clause, restraint clauses
- Drafting and reviewing of the key contracts – sale agreement, lease assignment, vendor finance agreement
- Pre settlement action – offers to transferring employees
- Settlement day – payment made, contracts and IP transferred
- Post settlement obligations – assistance period, debtor payments, restraints
KEY CONSIDERATIONS WHEN BUYING OR SELLING A BUSINESS
Other key considerations we will need to discuss also include:
- Is the business being sold as a going concern (i.e. GST free)?
- Does the transaction require a Form 2 vendor disclosure statement to be provided to the purchaser?
- Should you insist on restraint clause for the vendor after settlement?
- Is there a lease that needs to be assigned?
- Is a Vendor Finance Agreement required, and if so, what is it secured by?
HOW CAN A LAWYER HELP ME BUY OR SELL A BUSINESS?
Buying or selling a business can be one of the most stressful and rewarding experiences of your commercial life. At Stanley & Co Lawyers, our specialist commercial transaction team can assist you by being your trusted advisor and advocate throughout the entire process, because your business is our business.
Once you have decided to go ahead with the business sale and purchase, leave it to us to coordinate the moving parts for you. This might include liaising with the lawyers for the other party, your business broker, conveyancers, accountants, finance broker, banks and employees.
The process often requires the input and alignment of multiple moving parts and parties. By working with our experienced team of commercial lawyers, you will have the peace of mind in known that your business sale or purchase will proceed without a hitch.