Who can help me?

[NotInTheKnowIKnow]

Name change, as don't want to be identified.
I have an opportunity to buy a domestic- cleaning business (agency).
Who do I need to employ or where to get the information how to go about it? I have absolutely no idea. There are quite few cleaners (all self-employed).
Are there special 'acquisition' lawyers/advisers? To be honest, I wouldn't want to spend ££ as I am paying for the company already, but I have no idea where to start.
Can someone tell me who to contact, please. Or can I find information online. I am quite good with paperwork.
Also, how do you set the price for the domestic cleaning business? Google says 6X annual profits for any business. But is this realistic?
Thank you all in advance.

Hi, I previously looked into buying a cleaning franchise back in 2014, so slightly out of date information. I would read the contract very carefully, it is likely to give you an area you can recruit clients in. For example the south side of Glasgow, if you have a client in the west side of Glasgow if someone new buys the franchise for the west side of Glasgow you then have to give them all of your west side clients. Read what happens to the business if you die, does it automatically go back to the central franchise owner? That is the person who set up the business originally. What help are they giving you to set up the business? Systems, training, marketing etc? Is this an established franchise already you are considering buying or are you starting from scratch with it?

Cleaners are always cancelling, so you need to have a large book of cleaners to arrange cover for those that cancel at short notice. For me that was the largest part of the job, recruiting cleaners and finding cover.

to be honest if you want to run a cleaning agency, I would recommend doing that yourself and not paying £000’s upfront for something you could start up yourself.

also are foi doing the cleaning too?

best of luck

An accountant would be my first port of call. You need to look into whether or not the business is viable before proceeding. They can give you advice on that. .

Helpisneeded100, it is not a franchise. This is the person, who set up the agency herself, now going to live abroad permanently, so selling everything up. I will get the clients and cleaners, no specific constrains about the areas to advertise. I have worked for an agency myself (in the office), but in different field, many moons ago, so know roughly the business side.
Saw company's accounts for number of years already. Let's just say, they are looking healthy. Agency is well established, more than 10y old.
The seller is not sure how to go about it, too. I know, it's not ideal! But I do trust the seller, I have known her personally for many years.

I was thinking if I need an account or someone 'special', eg, acquisition lawyer, to guide us through. Or can we do it ourselves- but in that case where to get the information?
Have absolutely no one to ask IRL.

Do you have a business gateway nearby? You can often access lawyers/accountants free of charge - although the appointments are brief but still worthwhile. They will also have lots of resources you can read up on which will help. Good luck!