Sites like BizBuySell and BizQuest allow small businesses to advertise their brands and connect with buyers. You can sort by industry, location, and even price. This is a great place to learn about local markets and customer demand. And finally, keep in mind that you'll have to pay a business broker for their services. Business brokers typically charge a commission of 5 to 10% on the business price.
If this is your first time buying companies, it might be worth working with a broker. Just as a small business loan broker can get you a loan, a business broker can find you a small business for sale. If you want to buy a business—whether it's a small business like a restaurant, a laundromat, an e-commerce store, or a franchise—or even a large company, such as a factory or a business—you have options. You can search for public announcements and online resources, establish contacts within your community, or hire the services of a commercial agent who specializes in connecting buyers with sellers, and can even contact companies that aren't currently for sale to see if they're willing to start a conversation. Once you find a business to buy, your business broker will be a great asset to you during the trading process, acting as your middleman.
Business owners, individuals, companies with multiple divisions, mergers and acquisitions brokers, and private equity firms need to know who you are and what specific companies you want to buy. All the paperwork related to buying a small business for sale can be complicated, so it's helpful to have a second pair of eyes and a professional during the final process. You've already analyzed the details of the small business that's for sale, but you'll want to have all of this information in writing before reaching an agreement. The more diverse your means of locating viable companies for sale, the better your chances of finding a quality acquisition candidate that few know about. If you want to know how to find businesses for sale, a great place to look are websites that list small businesses for sale.
If a good business has failed due to poor management, you may find an economic business that you can return to life. You'll also be able to see details and photos of each business you're considering, so you can see on the Internet if a business is suitable and not waste time visiting businesses in person that aren't a good fit for you. Lawyers and accountants who deal with business owners can be a good source of information about companies that are for sale or are thinking about selling. Take advantage of your network of personal and professional contacts and, if you wish, hire a commercial agent to help you find a company that fits your objectives.
Assuming that you have clearly defined your company's buying criteria and have decided to only search for companies that are “officially for sale”, instead of trying to find and contact business owners who are willing to sell, you'll need to explore as many possible ways to find businesses for sale as possible. The first, and possibly the most important, step in finding a company for sale is to set your personal goals. Often, they may search for businesses for sale that are not listed anywhere in public, or even contact business owners they know to see if they are willing to sell. You've considered selling some small businesses and you've done some research to find the one that's right for you.
