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Buy an existing business with help from RightBiz

Are you interested in buying a business that is not on the market? Don’t let that stop you. We can help you get the business you want. Rightbiz specialises in acquiring businesses that are not for sale. We can discreetly reach out to the business owner to see if they are willing to sell for the right price. If they are, we can connect you with the owner and assist you with the negotiation and transaction process.

A dedicated business broker who will help you buy the business you want

A specialist business broker who will aid you in developing a plan and budget to acquire your desired business.

The business broker takes care of the deal on your behalf

The business broker collaborates with the business owner to secure the most favorable price on your behalf.

The business broker will introduce you to the business owner

The business broker will connect you with the business owner in order to complete the sale of the business.

Pros and cons of buying an existing business

Pros of buying an existing business

Cons of buying an existing business

5 steps to buying a existing business

An organised approach will help you find and acquire the right business.

1. Do your research

Conduct research on the sector that appeals to you, including identifying the optimal time for purchasing, and create a list of two or three potential businesses that meet your criteria.

2. Initial viewing and valuation

Keep it quiet. Record everything important. The owner may not want the staff to know.

3. Make a formal offer

If you make an offer over the phone, it's important to follow up with a written confirmation. When drafting your letter, use the heading "subject to contract" and include this phrase in all written correspondence.

4. Negotiate the deal

Before finalising the sale, it may be worth attempting to negotiate an overlap period. This will allow you time to get familiar with the business before taking over.

Both you and your solicitor should verify the information that you've used to make your offer. To ensure that the business is worth buying, it's recommended to conduct due diligence.

5. Complete the sale

It's important to keep in mind that a deal can still fall through even after agreeing on the price and terms of sale. You must meet certain conditions of the sale before completion, which may include:

  • Verifying the accuracy of financial statements
  • Transferring any leases involved in the sale
  • Transferring contracts and licenses related to the business
  • Transferring any necessary finance
  • Transferring any existing or new VAT registration to the new owner.