GREGORY ABRAMS DAVIDSON SOLICITORS
For you, for business, for life.
1. Be Decisive
Once you decide to sell or retire, don’t look back. Plan what you want or need from a sale and get on with it. I am a big believer that a wrong decision is better than indecision.
2. Due Diligence or lack thereof!
This applies more to the buy side (i.e. Know what you’re buying), but sellers need to do their homework too on the buyer, their funding, whether you can trust them? Find out about the sales process and research your professionals, their experience / track record.
3. The Price Is Right… Or is it?
This is the starting point is your “ideal world” scenario. However, a business is only worth what someone will pay for it, so be prepared to justify when challenged. Don’t price yourself out of the market!
4. Timing is everything
Timing of a sale is key. Think market factors. Have you had any approaches? Retirement plans??
Also important is to agree on a roadmap once a deal has been reached in principal. Deals need planning from contracts to completion. There is always a risk that with no timeframe, a deal can go cold. A proactive lawyer will drive the deal.
5. Negotiation is an art, not a science
Every business owner has a different idea of what is important to them and the goalposts should be positioned accordingly. Choose your battles wisely and win the war. What is your bargaining power? You need your deal-breakers and your deal-makers, to offer as concessions to get the job done.
6. If you pay peanuts…
Don’t skimp on professional advice. Use the experience and expertise of your specialist accountants, lawyers, corporate financiers, surveyors… If you are on a budget, highlight this at the start, agree a fixed or capped fee and extract as much value as you can!
Jonathan Abrams is a Corporate Partner at Gregory Abrams Davidson Solicitors. Contact Jonathan about their Fixed Fee Mergers and Acquisitions legal services at [email protected] or call 0808 164 9938
Liverpool City Centre: 20/24 Mathew Street, Liverpool L2 6RE
Liverpool – Penny Lane: 123 Penny Lane, Liverpool, L18 1DF
London – North West: 746 Finchley Road, Temple Fortune, Golders Green, London, NW11 7TH
Whilst our solicitors are based in one location, we are always happy to try to make an appointment to meet you in any of our office locations, if this is more convenient for you.
© 2025 Gregory Abrams Davidson Solicitors
Gregory Abrams Davidson Solicitors and GAD Commercial are trading names of National Law Partners Limited, registered in England and Wales under number 08312439 and are Authorised and Regulated by the Solicitors Regulation Authority, under number 646548. Gregory Abrams Davidson Solicitors registered office: 20-24 Mathew Street, Liverpool, L2 6RE. VAT Registration Number: 290 6677 68.