First option to buy fee - is it a thing?

[DSLiverpool]

In the nineties I know a chap who took a sizeable fee for an option to buy his business first (I have no details of the transaction) and he did indeed sell it to the option holder at the average of two valuations.
Fast forward to present day and I think this is coming my way, has anyone experience of such a deal and what ratio is the “fee”.

[TheBogFlogger]

Hope I've not pushed you over the edge

[Insurancejon]

I've sold an option to buy a property to tescos before. They paid £10k for a two year period.

That's the key, price versus length of time

[DSLiverpool]

TheBogFlogger said:

Hope I've not pushed you over the edge

Never Ste but the sharks are circling ....

[cerberaperv]

I’ve used Options dozens of times with property and I’m sure the same could or has been done for a business.
It’d be a case of drafting a Heads of Terms which outlines what each side wants. Then sending it to a commercial solicitors to draft the option.