Buying or Selling a Business in BC

We handle all the legal complexities of a business purchase or sale. We close deals quickly and cost-effectively.

threebestrated badge

Patrola Law has been chosen as a top business and IP law firm for two consecutive years (2019, 2020) by Three Best Rated and trusted by clients with a 4.8 star rating on Google.

Business Purchase or Sale Transactions

When deciding to buy or sell a business in BC, there are a number of factors to take into consideration. It requires careful planning and preparation to ensure that both the buyer and seller have all the necessary information to successfully complete the deal.

Patrola Law has extensive experience with buying and selling independent businesses and franchises of all types and sizes across various industries:

  • Restaurants & cafes
  • Beauty, fitness & health
  • Dental & medical
  • Logistics & construction

Buying a Business

Why buy an existing business?

Pros

  • Greater chance to succeed with an actively operating business rather than building one from the ground up.
  • Reduces startup time because many areas of the business will be established such as trained staff, relationships with vendors, customer base, revenues & profits, and company policies & procedures
  • Ability to draw on the business's history (sales, operations, management, marketing, etc) to make informed decisions.
  • Allows you to leverage the reputation/brand of the business's products or services that have already been market tested.
  • Increases your ability to secure financing to grow the business because it has a proven track record

Cons

  • You may require a heavier upfront investment cost compared to starting your own business.
  • Without proper due diligence, you may inherit a business that requires significant changes and capital to fix (e.g. outdated software & equipment, debt, cash flow issues)
  • You may need to renegotiate and/or restructure staff contracts that were set in place from previous ownership.
  • There may be a conflict in implementing your vision due to an existing company culture and history 

What is the step-by-step process to buying and selling a business?

Step 1: Doing your own research

Step 2: Determine Structure: Share Sale or Asset Sale

Step 3: Perform Legal Due Diligence

Step 4: Preparing Documents and Closing the Deal

Buying and Selling a Business FAQ's

How should I determine a business's valuation?

Do I need to use a lawyer for the transaction?

When is it a good time to sell my business?

When should I tell my employees I plan to sell my business?

How long does it take to sell a business?

Closing deals are what we do best.

Speak to a business acquisition lawyer and schedule a free consultation today.