You're out: you want to sell your business, but it's not something you deal with every day so how do you approach it? What steps should you take now and what is a smart negotiation strategy? When answering these questions, you could use some help. That is why there is Loor Legal & Partners. We are here to assist you throughout the process when needed.
Advice sales company
A business sale is a complex and time-consuming process. Many business owners misjudge it. Not only are there all kinds of legal and financial aspects that must be well documented, there are also personnel and emotional issues that come into play when you sell a business.
In other words, you will have to conduct a bookkeeping review and draft a purchase contract, but you will also have to deal with a workforce that will be transferred, and you will probably also have to say goodbye to your business emotionally.
Because your business is somewhat your baby after all, and because you simply want to achieve as high a sales price as possible, it is advisable to hire an expert advisor. More and more entrepreneurs who are selling their business want advice, because they simply do not have the necessary knowledge and experience in-house.
For the financial part, they often have an accountant they can call, but an attorney is not always available on call.
Loor Legal & Partners has an entire team ready to take everything off your hands on a legal and strategic level. In addition, the specialized lawyers have extensive experience in negotiating and will explain the best strategy.
Planning to sell your business? I would be happy to give you initial insights at no cost. Please call without obligation: 055 303 1950.
Ernest Loor, Attorney at Law
What we can do for you
Our consultants specialize in corporate sales. An advisor in selling a business knows better than anyone else the steps to follow to achieve the best possible result. We assist you with advice, tips and all legal issues you may face. From management buy-in to selling to investors.
The letter of intent or letter of intent
In the letter of intent, we put the outline of the sales agreement on paper. This preliminary contract is not without obligation, but in many cases legally binding. Therefore, it is important not to treat the letter of intent lightly.
Hedging risks
The selling party and the buyer have a duty to report and a duty to investigate, respectively. To avoid surprises, it is important to cover the risks.
Purchase Contract
Once the deal is done, a legally correct contract must be drawn up. Our attorneys will make sure this is done perfectly.
Identify bottlenecks
Are there certain dealbreakers you've overlooked? Are there any components missing for getting your business ready to sell? So there are all kinds of bottlenecks that can slow down the sales process. We are happy to identify those for you.
Negotiation Strategy
Negotiation is a profession. And we have learned it. We know better than anyone how to determine the smartest strategy. Moreover, we are less emotionally involved, which enables us to conduct a stronger negotiation.
Legal advice in a business acquisition.
Call directly: 055 303 1950 or make an appointment.
Experience & background
Ernest Loor is the founder of Loor Legal & Partners. After studying corporate law in Leiden, the lawyer specialized in mergers and acquisitions through a post-graduate course at Radboud University in Nijmegen.
With nearly eighteen years of experience in the legal profession and in the areas of contracts, mergers and acquisitions, Ernest now knows how best to assist entrepreneurs in this extraordinary process.
Together with the equally expert attorneys Sander van Harmelen and Luc Houten, he takes a pragmatic and results-oriented approach. The Frisian born lawyer likes down-to-earth language and a direct approach.
Besides supervising many acquisitions, Ernest is a guest lecturer for accountants and tax specialists in the field of corporate law. Thus, he is not only at home in the legal aspects, but also has extensive knowledge of the financial part. The skill of this lawyer is also noticed in the legal world.
Ernest has been nominated for the title of Best Acquisition Lawyer of the Year at the leading Merger & Acquisition Awards in 2019.
Why hire counsel from Loor Legal & Partners?
Approachable advice
The fact that you are considering selling your business is something you prefer to keep to yourself for a while first. There are a number of things you want to find out about which you know little about. Loor Legal & Partners is the ideal partner. You can seek our help anonymously and easily.
Accessible information
Loor Legal & Partners consists of a team of no-nonsense lawyers. That means we avoid woolly legal language, are always transparent about our fees and are easily accessible for additional questions.
Specialized lawyers
Anyone can give advice, but deskúndig advice is something else, and that is what you are naturally looking for. We have decades of experience in business acquisitions. We know all the ins and outs, legal and financial developments and pitfalls and bottlenecks.
Strong negotiators
Negotiation is one of the most important aspects of the sales process. It is at this stage that the deal is closed. Therefore, it is crucial that the negotiation strategy be perfect.
Help with a business acquisition
Call directly: 055 303 1950 or make an appointment.
Methods
Because selling a business is not settled in a few weeks, it is very important to provide structure to the process. Therefore, we have created a step-by-step plan that we can go through with you.
1. Preparation
The most important aspect of preparation is to determine the financial position of your company. Make an analysis of the market and the quality of organization and management. You can have this recorded in an information memorandum. Our advisors will be happy to help you prepare it.
2. Getting ready to sell
The next step is to get your business in top shape so that you can charge as high a price as possible. Make sure the customer base is well stocked and the balance sheet is clean of private debts and assets. Show correct financial statements up to five years back and have an expert look at the legal structure for additional tax advantages.
3. Set price
There are several calculation methods for determining the value of your business. If the value is clear, then it is time to set the selling price. The most important thing is to have the ranges in mind: what is the minimum price and what is a realistic maximum?
4. Negotiate
Once you have found an interested buyer, it is time for the negotiations. These are best left to an expert. They have the appropriate emotional distance to the company and know better which strategy is optimal. Once you have reached a deal, you can go to the notary to sign the contract.
Free telephone consultation
As you can see, selling a business is no easy task. You can use some help in the form of an expert advisor. We understand that selling a business is also an emotional matter. A personal click is important. Ask for a free, no-obligation consultation now. During that meeting we will briefly go through the most important aspects of the sale with you and examine what else we can do for each other.
An advisor helps you make a successful business acquisition. Important in this is the identification of bottlenecks, assistance in negotiations and valuation and good documentation.