Buy a Business
If you are looking to buy a business in Ireland ensure you’re signed-up to our mailing list to learn of new businesses for sale. You can expect to receive an email at most once per week (we’re currently sending out a newsletter once a month).
Depending on the size of business you are looking to acquire there are a number (not all…) of considerations when buying a business:
- Have you the funds or finance in place? If looking for finance it is best to have it approved in principle if possible. Should you make an offer, this will make you more attractive to the vendor over someone that has yet to secure finance.
- Have you experience in the sector? While not absolutely necessary you may want to consider doing certain courses in advance of commencing your actual search of businesses for sale.
- Has the business a number of years verifiable accounts?
- Are there other sales records available (till reports etc.)?
- How quickly will you be able to proceed if your offer is accepted?
- If looking to buy a retail business, do you have commercial references from landlords available (even if you obtain agreement with the business’s vendor, the landlord may not approve you).
- Consider whether you would probably require the owner to stay on in the business in a transitionary period, and if so, for how long.
- Do you have a solicitor identified who will help you with the purchase agreement /sales agreement?
- Will you be buying the 100% shareholding in the Ltd. entity or are you looking to acquire only the goodwill, client list, equipment only.
- Have you sought tax advice about your potential purchase and how you might set-things up (Ltd company / Sole trader / Partnership etc., i.e. you may want to set things up a certain way to ensure you can avail of Entrepreneur Relief or Retirement Relief on the disposal of the asset etc.