A growing base of dental and medical practice sales sits alongside a dense franchise and restaurant scene along Yonge Street in Richmond Hill. A practice sale runs on a college's approval timeline; a franchise or restaurant sale runs on the franchisor's or the landlord's — we tell you which one you're in, and what it costs, before any work begins.
Part of York Region — one regional deal market, page by page.
Every figure below traces to a named public source — no estimates, no filler.
†Typical patterns across Ontario deals — not a quote or advice; every deal is confirmed on its own facts.
The same sequence underlies almost every owner-run Richmond Hill deal — what changes from deal to deal is how long each step takes.
Reaching an agreement
Buyer and seller agree on price and key terms, usually informally, before lawyers draft anything binding. We review before you sign — even a "non-binding" LOI can lock in terms you didn't mean to fix.
usually 1–2 weeks†The APS sets out price, structure (asset or share), conditions, and closing date. We draft or review it and negotiate the protections — reps, warranties, holdbacks — that actually matter for your deal.
1–3 weeks to negotiate†Corporate, PPSA lien, litigation, and licence searches confirm what you're actually buying. We chase the seller's lawyer, the registries, and any regulator whose sign-off your deal needs.
2–4 weeks, in parallel†Getting to closing
Landlord, franchisor, lender, and licensing-body sign-offs are chased in parallel with the paperwork. In Richmond Hill, this is usually where a practice's college approval, or a franchisor's consent, adds the most time.
often the critical path†Funds, keys, and signed documents change hands. We coordinate directly with both sides' lawyers and the lender so nothing is left to a last-minute phone call.
1 day, once conditions are met†Registrations, licence transfers still in progress, and any post-closing deliverables — like a holdback release — get tracked to completion, not left for you to chase.
1–2 week tail†This is the first real decision in almost every deal — and it changes what you're buying, what you're taking on, and how it's taxed.
| Question | Asset purchase | Share purchase |
|---|---|---|
| What you buy | The business's assets — equipment, inventory, lease, goodwill, name. | The shares of the company itself — everything it owns, and everything it owes. |
| Seller's liabilities | Generally stay behind with the seller's corporation. | Generally come with the company, known and unknown. |
| Tax angle — seller | Straightforward proceeds treatment in most cases. | May qualify for the lifetime capital-gains exemption on qualifying small business shares. |
| Tax angle — buyer | A stepped-up cost base on assets bought; an HST s.167 election may apply. | Cost base carries over from the seller — a different position for the buyer. |
| Licences & contracts | Must generally be re-issued or assigned into the buyer's name. | Usually stay in place, since the corporation itself doesn't change. |
| Employees | Employment Standards Act continuity rules typically apply. | Employment generally continues uninterrupted — the employer doesn't change. |
| Typical use in Richmond Hill | Owner-run franchise-unit, restaurant and retail deals. | Common in Richmond Hill's growing base of dental and medical practice sales, where a licensed buyer typically purchases the professional corporation's shares. |
The business's assets — equipment, inventory, lease, goodwill, name.
The shares of the company itself — everything it owns, and everything it owes.
Generally stay behind with the seller's corporation.
Generally come with the company, known and unknown.
Straightforward proceeds treatment in most cases.
May qualify for the lifetime capital-gains exemption on qualifying small business shares.
A stepped-up cost base on assets bought; an HST s.167 election may apply.
Cost base carries over from the seller — a different position for the buyer.
Must generally be re-issued or assigned into the buyer's name.
Usually stay in place, since the corporation itself doesn't change.
Employment Standards Act continuity rules typically apply.
Employment generally continues uninterrupted — the employer doesn't change.
Owner-run franchise-unit, restaurant and retail deals.
Common in Richmond Hill's growing base of dental and medical practice sales, where a licensed buyer typically purchases the professional corporation's shares.
We tell you which structure fits — before you sign anything.
Different lists depending on which side of the deal you're on — both matter for how smoothly closing goes.
No open-ended hourly surprises — the cost is confirmed in writing before any work begins.
| Type of work | Fee | How it's confirmed |
|---|---|---|
| Straightforward purchase or sale | Starting from $3,388.87 Our charges · taxes included | Confirmed in writing once we see the agreement. |
| Larger or more complex deal | Quoted to scope | Short call → fixed written quote before any work begins. |
| Searches, filings & third-party fees | At cost | Itemized on your invoice, not marked up. |
A café or restaurant, a salon, a franchise unit, or a trades business in Richmond Hill — usually one buyer, one seller.
Start my file →A company with several owners or employees, bank financing, real estate, or a deal that needs negotiated protections before you sign.
Book a consultation →Not sure which you are? That's our job to figure out, not yours. As a rough guide, most deals under a couple of million dollars are the first kind — above that, you're usually in Mergers & Acquisitions territory.
Neighbouring pages in the same regional deal market.
The regional picture — consents, sectors and the full municipal web.
Markham carries one of the highest concentrations of technology and advanced-manufacturing head offices in the country, with a large base of IT/MSP firms and franchise and restaurant operators serving its diverse business community.
Vaughan's economy runs on distribution, warehousing and construction along the Highway 400/407 interchange, with a fast-growing base of trucking, franchise and specialty-retail businesses.
Confirming your buyer's college standing before you sign anything — a professional corporation's shares typically move only to a licensed member of the relevant college, so the sale's realistic timeline starts with that confirmation, not with a listing price. We check this at the outset of every practice sale we take on, so you're not negotiating around an approval that was never coming.
It can vary quite a bit — franchise agreements signed years apart, even for the same brand, sometimes carry different consent, renewal or right-of-first-refusal terms as the franchisor's standard contract evolves. We read your specific agreement rather than assuming it matches what a newer franchisee down the street signed.
It's less common, but not impossible — an asset structure can come up where the buyer isn't acquiring the whole corporation, for instance buying just the equipment and patient list into a new professional corporation. Most Richmond Hill practice sales we see are still share deals, but we confirm which structure actually fits your situation rather than assuming.
Generally the operating corporation itself, not the franchisor, holds the AGCO liquor sales licence, so the licence transfer runs alongside — not through — the franchisor's own consent process on the sale. The two approvals move on separate tracks and separate timelines, and both need to be tracked to closing.
Not usually a separate agreement — inventory is typically counted and valued as part of the same purchase agreement, with the final number adjusted close to closing rather than fixed months in advance. It's one more reason the number on your offer isn't the number you'll actually pay or receive at closing.
| Resource | Official link |
|---|---|
| City of Richmond Hill Municipal business licensing | Visit www.richmondhill.ca |
| CPSO — physicians Professional corporation & change-of-ownership rules | Visit www.cpso.on.ca |
| RCDSO — dentists Certificate of Authorization on a practice sale | Visit www.rcdso.org |
| AGCO Liquor sales licence transfers | Visit www.agco.ca |
| WSIB Clearance certificates | Visit www.wsib.ca |
Industries we cover
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Serving Richmond Hill's professional-practice, franchise and retail business community along Yonge Street.
Tell us about your Richmond Hill deal — we'll point you the right way and confirm the cost in writing before any work begins.