Advice on selling my biz please

Discussion in 'Legal' started by Mrs Malapup, Mar 19, 2010.

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  1. Mrs Malapup

    Mrs Malapup Contributor

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    I may have found a buyer for my little pet sitting/dog walking biz (they found me actually) I have been established just over two years and can show a nice little profit. There is very little competition and I am turning work down so there is a lot of potential to grow. I just have the customer database for sale, Name, Logo, Website, domain name, forms templates. I am willing to work with new person to introduce to customers and dogs etc for a period of time.

    How do I proceed please? What legal stuff do I need to do? And can I do it without spending lots of money?. It is a very low key small buiness run by me on my own. My other question is - I value my customers very much and have a brilliant relationship with them and their pets - I want to be sure that the person taking over will be able to do the job well - am I being too anal here? :rolleyes: For example do I need to explain that if they have children and one morning in Winter the child wakes up ill - the customers dogs still need to be walked that day etc
    So I guess Im looking for a bit of legal and ethical/moral advice here please. Thanks:)
     
    Posted: Mar 19, 2010 By: Mrs Malapup Member since: Sep 4, 2006
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  2. yorkshirejames

    yorkshirejames Contributor

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    This question might be better on the general board actually.

    If you were selling something at a cost of six or seven figures, you would be obliged to spend a few thousand pounds on legal fees, which clearly is inappropriate here.

    I would say you want a simple one page document that states what you are selling and the price they are paying. You need to set out what is and isn't covered, for example if your insurance runs out 3 days after execution date, then make them aware that this won't be renewed for them.

    On a personal level, I agree with you about being concerned about quality etc. In the business world, this doesn't matter a jot. A nice way to get around this would be to include a clause such as the following:

    Mrs. Malapup would be agreeable (subject to precise dates and times, and her other commitments) to undertake work for the business post execution date. This work will be charged at £50 per hour (amount to increase in line with inflation each year) and could include hand-over work, time answering queries, or providing front-line services to clients of the business. In the thirty days after the execution date, Mrs. Malapup will provide ten hours of hand-over work and/or time answering queries free of charge.
     
    Posted: Mar 19, 2010 By: yorkshirejames Member since: Mar 2, 2006
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