1. Telephone Myers La Roche
Telephone 0044 161 929 8389 and ask to speak with a member of the Practice Sales team. This conversation is totally confidential, free-of -charge and offered without obligation on your part.
2. Information pack
Myers La Roche will send an information pack either as an email or by mail to your home address to preserve your confidentiality.
3. Once you have decided to go ahead, return the instruction form
This is a formal instruction from you which allows us to market the practice on your behalf.
4. Provide MLR with information to allow us to market your practice
Once MLR receive your instructions to sell we will require 3 years formal accounts, The potential purchaser's bank will need these accounts before they will agree funding. The purchase will be stalled without the up to date information. We will also need a copy of the any lease, photographs of your practice and a completed MLR pre-sales questionnaire. This allows us to get an insight into you practice. It also allows us to place a realistic price guide on the practice. Once Myers La Roche receives this information we will be able to create the draft 'Business Details' for the practice.
5. Approve draft business details and agree price
Once we have completed your business details we will forward these to you for your approval.
6. www.myerslaroche.ie & www.myerslaroche.co.uk
Once you have approved the business details MLR will then place your business details to the Myers La Roche website. The practice identity and precise location will still be kept confidential. However, the relatively small Irish market means that many people will be able to take an educated guess at the ownership of the practice. The website allows access to several thousands of people who have shown interest in buying a practice. Once your business details have been up loaded to the website an email will be sent out to alert people a new practice is on the market.
7. Mailshots, telesales and advertising
The website listing will be supplemented as required by postal mailshots to targeted Eye Care Practitioners who are not registered on the website. In addition, we may also contact potential purchasers directly by telephone and place advertisements in the trade press. For practices for sale in Ireland, many potential buyers are currently working in the UK, so we target these prospects directly.
8. Arrange viewings for you
Your MLR consultant will speak to the interested party and gather a number of days and times when they are available. The consultant will then contact you and try to fit the viewing around you. Most viewings will be carried out after office hours to keep the sale as confidential as possible.
9. Interested parties
Your consultant will keep in close contact with the interested parties and keep you updated of any further interest shown or offers made. Sometimes purchasers require more detailed information to allow them to offer on the business.
10. Agree sale
Once your Practice Sales consultant has forwarded the offers to you and you have agreed which party you would like to proceed, Myers La Roche will gather all the information from you and the purchaser that will allow us to instruct solicitors on behald of 'both sides'.
11. Instruct solicitors
The solicitor of your choice will then produce a sales contract and forward this to the purchasers' solicitor. Throughout the sale the purchaser is likely to require access to the practice to carry out a survey on the building, and due diligence on the business. MLR are the only people who can contact all parties involved in the sale, can help keep your legal costs down and your length of business transfer as short as possible.
12. Sorting out the 'red tape'
Your consultant will advise you of the main tasks that you will need to resolve prior to exchange of contracts.
13. Exchange contracts
On exchange, the sale contracts are signed and the sale is legally binding. Exchange may occur prior to or in conjunction with the completion date.
14. Stock
Stock is usually valued on or just prior to legal completion of the practice sale. It may be valued at the figure shown on the balance sheet but the inventory should be valued at the price paid or its net realisable value. In Ireland, stock under 12 months old is worth the figure given on the associated invoice. Inventory that is between 12 month and 24 months old is worth 50% of the price paid by the current owner. Stock over 24 months old is valued at zero.
15. Completion of the sale
Although some of the matter is now complete, about 60% of our work is carried out behind the scenes from this point forward, liaising with solicitors, accountants, landlords, agents, banks and a myriad of other parties to ensure that the momentum of the deal is maintained. On the day of completion, you will be able to hand the keys over to the purchasers.