The first step is to conduct thorough due diligence.
This involves reviewing the business's financial records, legal obligations, and operational aspects to ensure you are making an informed decision.

Due diligence is the process of investigating and verifying the details of a business before finalising the purchase.
This includes examining financial statements, tax records, legal contracts, employee agreements, and any other relevant documents.

While it is not legally required, it is highly recommended to engage a lawyer to ensure that all legal aspects of the transaction are properly handled.
A lawyer can help draft and review contracts, conduct due diligence, and provide legal advice.

The sale of a business can include tangible assets (such as equipment and inventory), intangible assets (such as goodwill and intellectual property), and the transfer of leases, licences, and contracts.
The specifics will depend on the terms of the sale agreement.

A business sale agreement is a legally binding contract that outlines the terms and conditions of the sale. It includes details such as:
- Purchase price
- Payment terms
- Assets being transferred
- Any warranties or representations made by the seller
- Restrictions on trade
- Employees
- Whether the purchaser is getting finance