Providing Startup Financing Solutions Since 2001

How to find businesses that are for sale

My brother and I have been looking for a small business to buy since early March. We have talked to local brokers and followed the listings on the big business buying and selling websites.  The listings are really disappointing. Is it the economy? Are only mediocre businesses available for purchase these days?

Your main problem is that you are looking in the wrong places. Online listings tend to be stale businesses which didn’t sell in the usual ways. What you need to do is look for fresh prospects which includes businesses that aren’t technically for sale. The best way to find these is to compile a list of local businesses that interest you and then call the owners or drop by in person if there’s a chance that you can meet them. What I mean by that is that you stand a far better chance of meeting the owner of a retail business than the owner of, say, a manufacturing business. One will most likely be on the shop floor while the other will be hidden away behind a barrier of gate-keepers.

Once you start talking to them butter them first by telling them that you have heard good things about their business and would like to one day own something similar. Then ask them what advice they can give you in your quest to own and operate such a business. Be prepared to have the owner start asking you about your qualifications as a buyer. This is a good sign as it may mean that he’s suddenly considering the possibility of selling the business.

Who knows where such a conversation will lead to?

Leave a Reply

Your email address will not be published. Required fields are marked *