How to sell a business?
Many entrepreneurs and business owners own a successful business, but want to sell it to embark on a new entrepreneurial adventure, or change direction. Here’s how.
-
Valuation of goodwill
The valuation of a business is a crucial step in the sale process. It’s what enables you to sell as quickly as possible, and at the best possible price.
There are several factors to take into account when valuing your business…
-
Putting bids on sale and receiving offers
Advertise the sale of the business using the appropriate platforms (internet, specialized newspapers, specialized agencies, etc.) and sort through the offers from potential buyers. These offers can include the proposed price, terms of payment, etc.
-
Negotiation
If your lawyer hasn’t helped you identify the components of the business for sale, it’s time to approach him or her to negotiate the terms of sale (price, payment terms, deadlines, etc.) with potential buyers.
-
Signature of a promise to sell
The promesse de vente, also known as the compromis de vente, is a legal document that commits the seller and buyer to the sale of a business or other asset (real estate, shares, etc.).
-
Signature of the deed of sale
Once all the checks have been successfully completed, and the suspensive conditions lifted, the final deed of sale is signed before a notary. This officially transfers ownership of the business to the buyer.
On the day of signing, the buyer transfers the funds to the secure account of the lawyer acting as escrow (usually the seller’s lawyer). These funds will be returned to you once the tax solidarity period has expired.
-
Formalities following the sale
Your lawyers will take care of all the commercial and tax formalities following the sale. They will also follow up any objections from creditors.
We are available to support you at every stage of your business transfer, and are particularly experienced in rapid transfer exercises between parties with short, imperative deadlines.
