Finding a Business for Sale
Question
What is the best way to search for and find businesses for sale?
Answer
There are several ways to find a business for sale:
- Search on the Internet - here are a few sites that have extensive listings of businesses for sale:
Advantage: easy to search and find businesses for sale that are ready to sell
Disadvantage: these businesses are usually well picked over with a lot of competition to buy the attractive ones
- Use a broker or mergers and acquisition advisor - here is a link to the International Business Brokers Association broker search page:
www.ibba.org/MemberDirectory/tabid/150/Default.aspx
Advantage: they will have listings and a network to work in order to help you find a business to purchase (much like a realtor, in fact some brokers are also realtors)
Disadvantage:
- They have an incentive to try to sell you one of their listings
- You will often have to pay a monthly retainer to get any of their attention
- You may have to pay them a commission or partial commission for their assistance
- Network - work your entire network of friends, business associates, attorneys, CPAs and bankers to find a business for sale (there are many online networks as well such as LinkedIn () and our VentureNetwork (newventurelab.com/network/)
Advantage:
- You can find a high quality business for sale that may not be on the market and with less competition for the deal
- You can avoid paying commissions and retainer fees
Disadvantage:
- It may take you one to two years to find a suitable business (if you find one at all)
- It will take a lot of effort, phone calls, meetings and mailings to get anyone's attention
- February 10, 2014
- Buying a Company
- Ask a New Question
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