Taking over a company: step by step.
How to get from the first idea to handover day. Eight steps that show what really matters when you take over a company.
Updated September 2026 · About 10 minutes to read
In short
Taking over a company means founding without starting from zero. You begin with customers, a team and revenue. For that you need a clear search profile, a company that fits you, careful due diligence and solid financing.
In Germany there are dedicated public loans for this. The ERP start-up and succession loan from KfW, Germany's state development bank, covers up to 500,000 euros and at most 35 per cent of eligible costs, secured by a guarantee bank (KfW).
- 01
Know where you stand
Before you look at companies, work out what you bring and what you want. A takeover is not a job. It is responsibility for people, customers and numbers.
- Which role do you want: running daily operations or setting strategy?
- How much risk can you carry, personally and financially?
- Who is behind you: family, partner, co-founder?
- 02
Sharpen your search profile
Your search profile is your investment thesis. The clearer it is, the faster you spot the right companies and the more seriously owners and banks take you.
- Sector and business model that fit your experience
- The region where you want to live and work
- Size by revenue and team, price range
- What you want to change and what should stay
With NachfounderIn the programme you build your search profile in the first phase, together with us and your cohort.
- 03
Find the right company
Many companies looking for a successor are not listed anywhere. Public marketplaces are a start, but the best matches often come through personal contacts.
- Marketplaces such as nexxt-change, run by the German government, KfW and the chambers
- Local chambers of commerce and crafts, tax advisers and banks
- Approaching owners directly with a short, clear profile
With NachfounderThrough Nachfounder you meet companies, often first through a business portrait: a short video about the company, its team and its owner.
Marketplace: nexxt-change.org · More: Business portrait
- 04
Get to know each other and build trust
The chemistry with the owner often matters more than the price. Behind every company is a life's work. Take your time.
- A confidentiality agreement before any numbers are shared
- Several conversations, including time on site
- Open talks about roles, timing and life after the handover
With NachfounderIn the matching phase you meet companies at on-site matching days and can spend a trial week in the company you want.
- 05
Check the company (due diligence)
Now you look closely: numbers, contracts, customers, team, equipment. The goal is not to find a perfect company but to know the risks before you sign.
- Annual accounts and management reports for recent years, forecasts
- Dependence on single customers, suppliers or the owner
- Contracts, leases, permits, pending proceedings
- Condition of machines, buildings and IT
- Key people in the team and their plans
With NachfounderIn the deal phase you carry out due diligence with specialists. Tax and legal advice comes from these specialists, not from Nachfounder.
- 06
Price and deal structure
A company's value comes mainly from what it will earn in future. The price is ultimately negotiated and depends heavily on the structure.
- Asset deal or share deal (see below)
- Price paid at once, in instalments or with a vendor loan
- Transition: how long does the owner stay on board?
- A letter of intent (LOI) as a step before the contract
With NachfounderIn the deal phase you work out the deal structure. Nachfounder is not an M&A advisory and does not negotiate for you.
Read more: What is a company worth?
- 07
Put the financing together
Most takeovers are financed from several building blocks. Equity, bank loans, public funding and often a vendor loan work together.
- Talk to your bank early, public loans are applied for through it
- Check programmes from KfW, Germany's state development bank, and regional banks
- Guarantee banks can secure loans
- A solid business plan with a takeover plan is a must
With NachfounderIn the programme you meet a bank in the first phase and build your financing framework.
Read more: Financing a business succession
- 08
Contract, handover and the first 100 days
The real work starts with the signature. The first months decide whether team and customers trust you.
- Purchase agreement with legal advice, notarised for GmbH shares
- Clear communication to team, customers and suppliers
- Listen first, then change
- A 100-day plan with a few visible steps
With NachfounderAt the end of the programme you have your handover and 100-day plan.
Deal structure
Asset deal or share deal?
How you buy affects liability, tax and effort. The German government's start-up portal gives an overview (in German). Make the final decision with tax and legal advice.
From practice
Five common mistakes.
- 01
Searching without a profile
If you look at everything, you decide on nothing. And owners see you as undecided.
- 02
Only looking at numbers
People, culture and dependencies matter just as much.
- 03
Sorting financing too late
Without talking to a bank you do not know which price is realistic.
- 04
Underestimating the owner
They know the customers, the team and the tricks. A good transition is worth a lot.
- 05
Changing everything at once
Rebuilding in the first weeks costs trust. Listen first, then change.
The Nachfounder programme
You do not have to take these eight steps alone.
A compact, individual programme like an accelerator, but for companies that already exist. With a cohort on the same path, in three phases: get fit, matching, deal.
The programme is being set up. The first conversation is free. We agree the terms individually with you and set them out openly before we start.
Questions
Frequently asked questions about taking over a company
How long does it take to take over a company?
That depends a lot on the company and on you. From the first search to the handover it often takes many months, because getting to know each other, due diligence and financing take time. With a clear search profile and early financing talks you move much faster.
Do I need industry experience?
Not necessarily. Entrepreneurial thinking and leadership experience often count for more. Expertise sits in the team and in the handover from the current owner. For public loans, though, you need to show professional and commercial qualifications.
How much equity do I need?
Less than many people think. Takeovers are usually financed through bank loans, public funding and vendor loans. How much equity your bank expects depends on the deal. Clarify this early.
What is the difference between an asset deal and a share deal?
In a share deal you buy shares in the company, for example a GmbH. The company stays the same, with all its contracts and obligations. In an asset deal you buy individual assets such as machines, customer base and brand. For sole traders only an asset deal is possible.
Where do I find companies looking for a successor?
Through marketplaces such as nexxt-change, through chambers, tax advisers and banks, and by approaching owners directly. Many companies are not listed anywhere, which is why a network like Nachfounder helps.
What does the Nachfounder programme cost?
The first conversation is free. We agree the terms for the programme individually with you and set them out openly before we start.
Is Nachfounder an M&A advisory?
No. Nachfounder is a programme that prepares you for a takeover and connects you with companies. For tax, legal and valuation you work with specialists.
Read more
Sources
- KfW: ERP start-up and succession loan (077, in German)
- KfW: product sheet 077 (PDF, in German)
- German Federal Ministry for Economic Affairs start-up portal: liability in asset and share deals (in German)
- BDU: guide to founding through succession (PDF, in German)
- nexxt-change business marketplace
This guide does not replace tax or legal advice.