Hypothetical, selling a mobile business?

[Faylizzie]

Can you sell a mobile business? I'm just asking out of curiosity really!

Has anyone done it before?

I'm not thinking of selling my mobile business but a conversation with my friend had me thinking if it could be done or not?

This is completely hypothetical an aimed to be more of a thought provoking thread than anything!

Would you buy a mobile business?
If not, why not? If you would consider it what would make you buy it? Would you expect all the equipment too or just the clientele list?

Would be very interested to know your thoughts & opinions!

As stated this is purely out if interest an I know lots of factors would need to be considered but what factors would these be too you?

Xxxxx

 

[misslady]

I'm not so sure because in the service industry I think that people are buying into the attributes of the service provider - people chose you over the next person because of something about you. That something is difficult to pass on - I think so anyway

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[Faylizzie]

True, very true & good point too xxxxx

 

[BannerPenguin]

From a legal point of view you can't sell a self-employed/sole trader business. If you was ltd it's possible.

 

[Faylizzie]

From a legal point of view you can't sell a self-employed/sole trader business. If you was ltd it's possible.

Ahh really, didn't know this do you know why? Would be interested to know. xxxxx

 

[misslady]

From a legal point of view you can't sell a self-employed/sole trader business. If you was ltd it's possible.

Never even thought about it like that!

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[Miss Pink23]

From what I can see you can sell a self-employed or sole-trader business even if it is not Ltd.
But, even if you couldnt, you could sell the client list. Saying this, it really is dependant on the therapist and even if you sold the client list, it doesnt mean the clients would continue to use the new therapist.
x

 

[Cholo]

From a legal point of view you can't sell a self-employed/sole trader business. If you was ltd it's possible.

I'm sorry this is totally wrong!
I bought a business last year that was through a sole trader. Solicitors represented both sides and it was sold through a broker.

 

[BannerPenguin]

Ahh really, didn't know this do you know why? Would be interested to know. xxxxx

I wouldn't 100% swear to it but I'm pretty sure. Reason being everything you buy is essentially owned by you as your a sole trader, you're trading as yourself. Also it would be hard to value as you don't do full company accounts etc.

The difference with a limited company everything I buy is technically owned by the business so any items within the business would be transferred in a sale unless otherwise negotiated. With a sale of a limited company your transferring ownership and normally resigning as director and the new owner is appointed director of that company.

I am sure I am skimming over lots of legal mumbo jumbo but you get the idea lol.

 

[BannerPenguin]

I'm sorry this is totally wrong!
I bought a business last year that was a through sole trader. Solicitors represented both sides and it was sold through a broker.

I stand corrected.