Buying and Selling a Business
Care homes are one of the more complex types of business, so if you are looking to sell a care home business or are in the market to buy, it pays to get specialist advice from legal experts with experience of this sector. WSP Solicitors offer just that, having handled a number of care home sales and with experience of business sales in the range of £100,000 to in excess of £30 million.
Specialist legal support for buying and selling care homes
With experience buying and selling all types of business across a range of sectors, we have particular experience in the sale and acquisition of care homes, so can offer tried-and-tested expertise on how this works, making sure no detail is overlooked.
Our Commercial Law team can assist with every aspect of your transaction. As well as the legal process of buying or selling a care home, we can also advise on issues such as registering with the Care Quality Commission (CQC), continuity of contracts and recovering outstanding debts owed to a care home.
We’re passionate about the success of local enterprise in Gloucestershire and in particular about those operating in the care sector which is so vital to our community.
We see ourselves as partners in our clients’ business journeys, helping them through every stage of starting or acquiring a business, through growth and development, all the way up to their exit strategy.
Still exploring your options and looking for some guidance? We offer a no-obligation, free of charge initial legal consultation with one of our commercial solicitors, to talk about your goals and how we can help. This can be face-to-face, over the phone or via videoconferencing to suit you.
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.
Our commercial lawyers can help with every stage of buying a care home, including:
Our commercial lawyers can guide you through the entire process for selling a care home business, including:
Whether you are buying or selling a care home, you will need to think about the impact on the commercial relationships essential to the running of the business. Our commercial contract solicitors can help you review the contracts and agreements you have in place and assess their value and how the sale may impact them.
We can then help you factor these contracts into the value of the business and assist with issues such as:
Find out more about our expertise with commercial contract law.
This is obviously an important consideration and we make sure to keep the costs fair and transparent so you can see exactly where your money is going and what you are getting in return.
To achieve this, our commercial solicitors will:
If your transaction goes particularly smoothly and less time is spent on it than we initially envisaged, your bill will be correspondingly lower.
Where appropriate, we can offer ‘conditional fee’ arrangements meaning that if your deal falls through you pay either less or nothing.
A typical business sale can be completed in around 6 to 8 weeks, although this will depend on the circumstances and additional considerations may alter the time scale.
The sooner you can instruct our team, the faster we are likely to be able to make the sale process for you as we will be ready to jump into action the moment a deal is agreed.
The key difference from many other types of businesses is that care homes operate in a regulated sector. This means your business will be regulated by the Care Quality Commission (CQC). You will need to register with the CQC and maintain regulatory compliance as a care home operator.
If you are buying a care home, you therefore need to:
To be registered with the CQC, you must show you have the relevant skills and experience to operate a care home effectively. This includes having a registered Care Manager (who must be qualified with an NVQ Level 4 and have at least two years’ senior care management experience) and at least 50% of your care home staff trained to NVQ Level 2.
You also need to make sure that the care home buildings meet the requirements set by the CQC. If there are any failings in the standard of the building, you need to understand what these are, how they can be fixed and how much this will cost. This should be established by your solicitor during the due diligence stage of the buying process.
Our Commercial Team have been helping clients to buy and sell businesses, including care homes, for decades. As such, we can provide clear, practical guidance on every stage of the process, helping the sale to go ahead as smoothly as possible while protecting your interests.
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 our legal and professional standards. We are independently regulated by the Solicitors Regulation Authority (SRA).
For expert support to buy or sell a care home, or for 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 call back, you can also use our quick online enquiry form.
I have nothing but praise for all of the people I have dealt with over the years. Nothing has been too much trouble and I would have no hesitation in recommending them.P. Browne
A very thorough and professional company. Always found staff to be very approachable, helpful and very clear in their explanations of all options available to me. Would strongly recommend WSP.D. Maton
WSP is the one-stop superstore for all your legal requirements. It is staffed with friendly, professional and expert people who are a pleasure to deal with. As a long term user of the company I always recommend WSP to all of my friends based on my own happy experience.D. Wilkins
Choosing the Right Business Sale Structure: Asset Sale vs. Share Sale
When you are planning selling your business, you will need to consider how the business sale is structured. There are two different business sale structures you can chose from- a...
What is a Business Lasting Power of Attorney, and do I need one?
Harriet Pearce a paralegal in WSP Solicitors’ Private Client Department, explains the importance of a Business Lasting Power of Attorney (BLPA) and how is often overlooked. A BLPA allows a...
WSP Solicitors award three new Associate promotions
It is with great pleasure that WSP Solicitors can announce we have promoted three of our Solicitors to Associate Solicitor level within the business. From October 1st, 2022, Lydia Andrews,...
Contact our office
Get in touch
