Buying and Selling a Business

Buying and selling your business. Made simpler.

We’re passionate about the success of the local enterprise in Gloucestershire and we take pride in supporting you on your business journey, from opening the doors to developing an exit strategy.

We have an excellent record of supporting entrepreneurs too, providing the sound, practical legal advice you need to build your business on while satisfying the demands of your partners or shareholders and making sure you’re protected from future issues.

Download our free, comprehensive guide to selling your business here

Our team has expertise in buying and selling all types of business across a range of sectors, with particular experience in the sale and acquisition of care homes and licensed premises.

Take advantage of a free initial consultation

In business, you need a partner you can relate to and trust at all times. We offer a no-obligation, free-of-charge initial legal consultation with one of our commercial solicitors, which can either be at our offices in Stroud or Gloucester or at your business premises or offices. We think it is really important that we understand your business if we are going to help you with any aspect of it.

To book your free initial consultation with our commercial law team, please contact your local WSP Solicitors office in Gloucester or Stroud or use the enquiry form on the right.

“When I decided to sell my business I had no real idea of the amount of work involved. So much of it was completely new to me and at the beginning very daunting and rather scary. Added to that we were all working under ‘Covid rules’ so everything had to be done by video/phone call. From our very first conversation, Shelley was calm, professional and reassuring. I feel that throughout the process Shelley was at my side and looked out for my best interests. There were lots of times when the deadlines and the amount of work to be done seemed overwhelming but Shelley guided me through. I would not hesitate to recommend Shelley and the WSP team.”

Richard Townsend – Managing Director S.G Bailey Paints 1989-2021

How we can assist you with buying or selling a business

Buying a business

Our commercial lawyers can help with every stage of buying a business, including:

• Getting an accurate valuation for the business
• Carrying out due diligence (checking legal titles, ownership of business assets, etc)
• Advising on employment contracts, redundancies, TUPE, etc.
• Advising on continuity of commercial contracts & agreements
• Reviewing offered terms of the sale
• Negotiating terms of the sale
• Transfer of funds
• Transfer of business leases & other contracts

Selling a business

Our commercial lawyers can guide you through the entire process for selling a business, including:

• Valuing your business
• Drafting Heads of Terms for the sale
• Drafting contracts of sale
• Negotiating terms of sale
• Dealing with due diligence
• Notifying employees of the sale
• Tax considerations
• Confidentiality agreements

Buying and selling business explained

How much will it cost to buy or sell a business?

We’ll give you a fixed estimate and we’ll never exceed it without your prior consent. We’ll provide regular updates on legal fees and, if your transaction goes particularly smoothly and less time is spent on it than we initially envisaged, your bill will be correspondingly lower. We can also offer you conditional fee arrangements, i.e. if your deal falls through you pay either less or nothing.

How long will it take to sell a business?

Most business sales are completed within 6 to 8 weeks, although outside factors often dictate timescales. We encourage you to contact us at the earliest opportunity if you are thinking of selling because it’s important we get to know your business so we can effectively prepare your business for sale, help negotiate terms and explore tax planning opportunities, ultimately saving you time and costs.

What information do I need to give at our initial meeting?

We need the usual proof of ID, accounts, statutory books, and so forth, but the most important thing is that you let us know your aspirations for you and your business: tell us why you are selling or buying, your plans for life, retirement, expansion. Starting, buying, and selling a business are life-changing events. We are here to listen to your ideas and the more we know, the more we can help you to make them a reality.

Why choose WSP Solicitors for buying and selling businesses

Offering decades of specialist expertise in the buying and selling of businesses, our Commercial Team provides clear, practical guidance on every stage of the process. We can ensure your transaction goes ahead smoothly and on schedule, keeping your commercial interests protected at all times.

When you work with us, you will have a dedicated point of contact at the firm who will get to know you and your business goals. They will be available to answer your questions and keep you updated on progress at all times, providing the close personal support you need.

We have experience helping clients to buy and sell businesses of all shapes and sizes, from the acquisition of small family businesses for less than £100,000 to the sale of international concerns for in excess of £30 million.

Whatever your requirements, our Commercial Team can provide the tailored advice and support you need to make your plans a reality while adding real-world value to your enterprise.

WSP Solicitors is Lexcel accredited by the Law Society in recognition of the high standard of our legal and professional standards. We are independently regulated by the Solicitors Regulation Authority (SRA).

Contact our commercial lawyers in Gloucestershire

For expert support with buying or selling a business, or any other area of commercial law, please contact our local offices in Gloucester or Stroud today.

If you have a quick question or would like to request a callback, you can also use our quick online enquiry form.

You can download our free guide to selling your business here.