Step 1: Contact us to arrange a meeting. We’ll listen to your plans and do our best to give you an estimate before you hire our firm.
Step 2: Conduct internal due diligence to come up with a sale offer price.
Step 3: Negotiate with potential buyers and sign a term sheet (also known as a letter of intent).
Step 4: Allow the buyer to conduct its due diligence.
Step 5: Negotiate the purchase agreement with the buyer.
Step 6: Close the sale, and get paid!
Our attorneys bill at an hourly rate of $250, and our paralegal staff bills at an hourly rate of $125. Before commencing any work, we first meet with you to determine whether we are a good fit, and, if so, we provide you with a general estimate as to the project. Generally speaking, attorney fees for a business sale range from 3% to 10% of deal value. Businesses in heavily regulated industries tend to require more work due to the need to review additional contracts and to ensure that the sale complies with all regulations governing the business.
Yes, but they are usually minimal, and in the range of $100 – $500 at the most, barring any unusual circumstances.
We’ve found that the amount of time to sell a business will depend upon how fast the seller and buyer exchange the information they each need, and will depend upon how fast they complete their negotiations. We’ve helped clients sell businesses in as fast as 2-3 weeks, while other business sales have taken close to a year. It really depends on how well the seller and buyer work together and cooperate with each other.