I have a small ecommerce store which generates a profit ($200K to $300K a year) that someone would like to purchase. The value of the deal isn't huge, it's just 1.5x the yearly multiple. As such, paying fees to a lawyer on top of that makes the acquisition less attractive.
Is it possible to complete the sale of such a business with generic forms you find on the web and eliminating the need for a lawyer completely? Or do buyers require that you have one for the deal?
You could do it without a lawyer, but you'd have to really pay attention to all the minute legal details. Just a couple of things to pay attention to:
I'd recommend getting a lawyer to help you navigate any potential pitfalls.
Also, If you don't have an accountant, getting one could help you save money on taxes on the sale.