If you’re thinking about running your own business, buying a business that’s already established may be quicker and easier than starting from scratch. However, at Goldmann and Sons PLC we understand that finding the right business for you is paramount. Our expert team will guide you through the steps of buying an existing business, including how to assess and value a business, your obligations to any existing staff and provide all the professional help necessary.
- Some of the preparation to get the business up and running will have already been completed.
- It’s likely that it will be easier to obtain finance, as the business will have a proven financial history.
- A market for the product or service will have already been demonstrated.
- There may be established customers, a reliable income, a reputation to capitalize and build on and a useful network of contacts.
- An existing business plan and marketing strategy would likely be in place.
- Existing employees should have experience you can draw on.
- Many of the problems may have been identified and possibly solved already.
Deciding on the right type of business to buy
Ideally any business that you buy needs to be tailored to your own skills, lifestyle and aspirations. It is useful to consider: Your abilities, your capital, your expectations in terms of earning, your commitment, your strengths, the business sector you’re interested in, and location.
Valuing a business can be one of the most worrying parts of buying an existing business; that’s why at Goldmann and Sons PLC we investigate the business thoroughly and consider every aspect to get an accurate calculation of how healthy the business is, and how suitable it is for our client.
Once the client has made a formal offer, has an agreed price and terms with the seller, Goldmann and Sons PLC will complete the due diligence. Once the due diligence is completed, we will ensure that our client will thoroughly understand what they are getting into, what needs to be fixed, what it will cost to fix, and if you are suitable to take on the business.
Key areas that we cover are:
- Employment terms and conditions
- Outstanding litigation
- Major contracts and orders
- IT systems and other technology
- Environmental issues
- Commercial management including customer service, research and development, and marketing.
HOW IT WORKS:
- Get Professional Advice – Goldmann and Sons PLC provides professional help that is fundamental throughout the negotiation, valuation and purchase process.
- Initial Viewing and Valuation
- Arrange Finance
- Make a Formal Offer
BUYING AN OFFSHORE BUSINESS
At Goldmann and Sons PLC we pride ourselves on the fact that we ensure that the purchase of your new company is simple and efficient. Setting up an offshore company does not have to be complicated and can provide many benefits for individuals or companies involved in business across international boarders.
Benefits of Buying an Offshore Company:
Non-resident companies are often tax-exempt or enjoy low levels of taxation depending upon the country. However, corporate taxation matters can become very complicated and it is essential to be guided by one of our experienced professionals.
The legal obligations of any directors or officers of an offshore company are often much less – saving time and money.
Lower Set Up and Maintenance Costs
The process can be relatively fast and simple, which can translate into lower costs in both the establishment and maintenance of an offshore company.
Most offshore financial jurisdictions will not reveal any financial information or details of the directors and shareholders to any third party unless criminal or terrorist activities are suspected.
For those with international business interests, an offshore company can be valuable for holding assets such as intellectual property or real estate investment.
Lower Capital Requirement
Registering an offshore company will require minimal capital, usually less than what is required for an onshore registration. In certain jurisdictions there is in fact no capital needed for registration.
Goldmann and Sons PLC has strong relationships with long-established and experienced international advisers giving us the ability to set up offshore registration for businesses in a variety of secure jurisdictions.