Acquisition of business - professionals fees query

[Newbie_Investor]

Hi,

I am new to this forum and business in general, but I am currently in the process of inquiring about a small business that is currently for sale.

I am in the early stages of my due diligence process on the business and I have not contacted any solicitors / accountants to obtain quotes, on how much they would charge for their fees in the acquisition process as of yet.

I wanted to know if anybody had any information on how much the costs would be for the professionals, as I would need to factor these costs into my offer? Does it work as a percentage on the sale price of the business?

The business purchases items from manufacturers abroad and is labelled / branded as well, then it is boxed to subscribers and posted via RM. The business has no staff and would be run as a 'side hustle' business by myself from home.

I would imagine that it is not possible to actually sell a business no matter how small, without using solicitors or accountants...but I could be wrong.

I would appreciate any guidance / advice before I contact solicitors during the week...

Thanks

 

[andy101]

Hi, hope the sale goes through ok, not sure if it helps but i found this article which may help. https://www.businesstradecentre.co.uk/questions-to-ask-when-buying-a-business/ Not sure about costs as i have never purchased a business but i would imagine it would be at worst £1,500 i could be well off so don't take my word for it.