For anyone looking to enter the world of entrepreneurship buying an existing business from an owner who might be looking forward to retire or move on from that business is a better idea than starting everything from scratch and spending years building a company. However, finding businesses available for sale is not really a look and find step. Many such opportunities aren’t publicized widely for the owners fear agitating the employees and customers by putting a For Sale sign on a business that is doing rather well. They rather wait for an opportunity to knock on their door.
Therefore you instead of sitting and waiting for a business for sale opportunity to show up in the ads or newspaper, get moving and use some sources that may help you find a break.
But before we list all the potential sources for finding a business for sale, one thing should be mentioned. When you are buying a business it’s important you do so with a plan in hand that you can show to bankers and investors so that all the possible menaces are dealt with in time without any financial crisis. And once you have found a business you want to propose a deal to, make sure you know what you are buying and that you are not paying.
Here are some sources that can definitely help you find a business for sale:
- Business Brokers
The prime source that anyone will reach out to is a business broker. There are usually several of the in larger communities and cities. Business brokers are intermediaries between business buyers and sellers and facilitate the process. They most often have a good idea of who is selling and who is interested in purchasing a business in their area.
- Lawyers and Accountants
Lawyers and accountants work directly under businesses and are a good source of leads for business opportunities available for sale.
Businesses have multiple accounts and usually with one bank. Their account managers might be a good source of referrals as well.
- Commercial Real Estate Agents
Commercial real estate agents have connections with businesses and business owners and may know of those who are willing to sell or might be interested to.
There are so many websites dedicated to facilitating buying and selling of businesses for example Tobuz.com. With hundreds and thousands of businesses from all over the world available for sale can be found in one website. Whether you wish to contact a potential business for sale opportunity directly or through a broker, Tobuz.com facilitates both ways.
They key point here is to build a network. Start networking with bankers, business brokers and agents to know about potential business for sale opportunities in market. However in the end, direct communication and network building with business owners might prove to be a better and efficient way than relying on any kind of middlemen. Explore your options and use them well.