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Buying a business

How long does it take to buy a business? A realistic timeline from offer to completion

How long does it take to buy a business? Usually two to six months from agreed terms. Here is where the time goes, and what to start before you make an offer.

Reading time 5 min read
Category Business guides
Written by The bizbritain team
How long does it take to buy a business? Most small business purchases take two to six months from agreed heads of terms to completion. A simple deal can be done in about eight weeks. A deal with a lease, staff and several contracts usually takes longer.
According to Fairhill Solicitors, a straightforward purchase of a small business takes 8 to 12 weeks from agreed heads of terms. Deals usually take 8 to 16 weeks in total. Franklins Solicitors says most SME acquisitions complete within three to six months of heads of terms.
The two ranges differ because deals differ. This guide shows where the time goes, and what you can start before you make an offer.

Section 01

How long does it take to buy a business, stage by stage?

Every deal follows roughly the same six stages. Some of them run side by side.

  1. Offer and heads of terms

    You agree the price and the main terms with the seller. Heads of terms are not usually binding on the sale itself. They often include an exclusivity period while you do your checks.

  2. Finance application

    Your lender looks at the business, at you and at the deal. This runs alongside the legal work. The lender's solicitor will have its own conditions to meet before completion.

  3. Due diligence

    You check what you are buying. According to Fairhill Solicitors, legal due diligence on a small owner-managed business typically takes two to four weeks once the seller provides the documents.

  4. Landlord's consent and licences

    If the business trades from leased premises, the landlord usually has to agree. Licences, such as a premises licence, have their own timescales too.

  5. Legal documents

    Your solicitor and the seller's solicitor negotiate the sale agreement and the disclosure letter. This is where warranties and any deferred payments are settled.

  6. Completion

    The money moves, the keys and the shares or assets change hands, and the filings start. Changes of director must be notified to Companies House within 14 days.

Section 02

What slows a business purchase down

Most delays come from people outside the deal. Fairhill Solicitors lists the common ones and how long each can take.
2 to 8 weeksfor a landlord's consent to assign the lease
4 to 6 weeksfor licences, such as a premises licence transfer
2 to 4 weeksfor bank and lender consent
2 to 4 weeksfor staff consultation when employees transfer
The landlord is often the longest wait. According to Fairhill, landlords routinely ask the buyer for accounts, references and a rent deposit. So ask for the landlord's requirements on day one.
The seller's speed matters too. Due diligence moves only as fast as the seller answers your questions. A cut-off date for answers in the heads of terms can stop it drifting.

Section 03

The Companies House check to do before completion day

Identity verification is now a legal requirement at Companies House. It came into effect on 18 November 2025, at the start of a 12-month transition.
If you are buying shares, you will usually become a director of the company you buy. A new director has to give their Companies House personal code as part of the appointment filing. Without a verified identity, you cannot be appointed as a new director.
Buying through a new company works the same way. You must give each director's personal code when you register it.
Many people have already done it. Companies House figures show 78% of director appointments were verified at 30 September 2026. If you are not yet in that number, do it well before completion.

Section 04

What to start before you make an offer

You can save weeks by starting three things early.
  • Your finance conversation. Talk to a broker before you agree a price. You then know what you can borrow and what your own contribution needs to be.
  • Your identity verification. Verify with Companies House now, so it cannot hold up completion.
  • Your landlord pack. Get your accounts, references and a rent deposit ready for the landlord.
A seller may also ask how you will pay before agreeing terms. Our guide to proof of funds when buying a business covers what to show. If the business trades from a leased unit, read our guide to taking over the lease when you buy a business.
When you are ready to talk about the deal, we can help with business acquisition finance from a panel of 100+ lenders. You pay bizbritain nothing unless a lender on our panel issues an Agreement in Principle.

This guide is general information, not financial advice. Applications are subject to status, affordability and lender criteria.

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