69 articles in this category
Which valuation method should you use for an SME: DCF (discounted cash flow), EBITDA multiples, adjusted net book value, or comparables? This guide analyses each approach — when to use it, its limits, the discounts and premiums that shift the result, and why cross-referencing methods is standard market practice.
Five-to-ten-year anticipation window, €100,000 personal allowance every 15 years, donation-partage at frozen valuation, Family Buy-Out, 15-year deferral of duties under Article 397 A: the levers of a successful family business transfer in 2026.
LOI, due diligence, SPA, assets and liabilities warranty, earn-out, closing, capital gains tax and registration duties: what a Paris-based seller needs to lock down to sign the final sale agreement in 2026.
What financial forecasts should you prepare when selling your business? From normalised EBITDA to the data-room, Hayot Expertise's guide to building a credible transaction file in 2026.
From the letter of intent to closing, the sale protocol structures the price mechanics, guarantee of assets and liabilities (GAP), earn-out and non-compete provisions. Discover the critical clauses, common pitfalls and the concrete role of the chartered accountant in a share or business asset sale in France in 2026.
Restaurant, hotel, boutique, bakery: how to build a defensible valuation before selling a French fonds de commerce in 2026. Sector turnover benchmarks by activity, EBE multiple method, worked example at €600,000 CA, registration duties under Article 719 CGI, and the chartered accountant's role. A rigorous seller's file changes the negotiation.
Acquisition audit, business valuation, asset vs share deal, registration duties, financing and lease: the complete guide to buying a restaurant in France.
A buyer under time pressure does not always have 8 weeks for a full due diligence. Here is the express 3-week method from Hayot Expertise: 15 accounting, tax and employment red flags to analyse in 21 days.
Full sale, MBO, Dutreil family transfer, share contribution to a holding company, LBO: how to select the right transmission structure based on your profile, fiscal objectives, and the buyer's profile. 2026 comparative analysis by Cabinet Hayot Expertise in Paris.
The business sale is signed. What remains is equally critical: managing your net capital, choosing between PFU and progressive income tax, leveraging deferral or purge mechanisms, building a durable wealth allocation and aligning retirement with transmission. This guide maps the decisions to take in the 24 months after closing.
Cap, de minimis, basket, GFS duration aligned with LPF art. L169, GSS aligned with CSS art. L244-3, escrow, W&I insurance, disclosure letter, claim procedure: the French GAP warranty analysed from both seller and buyer perspectives by Cabinet Hayot Expertise in Paris.
Valuing a business goes well beyond applying a market multiple. This guide covers the three main methods (asset-based, earnings multiples, DCF), the restatements that matter most, and the qualitative factors that shift the final range.
Before transferring your business to 2026, what diagnostics should be carried out? Finance, legal, human, commercial, tax and management.
Location-gérance — France's business lease management arrangement — lets a business owner hand over operations to a prospective buyer before committing to a final sale. Properly structured, it tests the incoming manager, protects asset value and organises the seller's exit. Done poorly, it triggers joint liability for debts and can undermine the commercial lease. A practical guide for 2026.
Anticipating a business transfer (60,000 sales per year in France): Dutreil agreement at 75%, retirement allowance of EUR 500,000, valuation of 4-7x EBITDA — prepare the file and the seller in advance.
Our articles provide general guidance. A discovery meeting with Samuel HAYOT allows us to analyse your specific case.