Month: January 2020

Finding a Small Business for Sale that’s Right for You

Have you always wanted to be an entrepreneur? If you love the idea of being your own boss, setting your own hours, and being able to take pride in every aspect of your job, then becoming a business owner may be the right step for you. But you don’t have to be sitting on a brilliant business idea in order to become a business owner. Buying a small business for sale enables you to start a business without beginning from scratch.

Finding a business to buy can be a challenging but rewarding experience, and there are plenty of ways to go about this process. Read on to learn about the various methods you can use to find a small business for sale to purchase.

5 Strategies for Discovering a Small Business for Sale

It’s important to take a strategic approach to find a business to purchase. This approach will enable you to peruse and compare a variety of options before making your decision. Here are five methods you can use to discover small businesses for sale.

Connect with Businesses in Your Area

If you’re interested in local small businesses that are for sale, the first step is to network with business owners in your area. While it’s not a guarantee that any of them will be interested in selling, making these connections will give you a better feel for the current market in your community. It will also help get the word out that you’re looking to buy a business in the area.

It’s important to keep in mind that many businesses hesitate to advertise that they’re for sale. There are a number of reasons for this, including the fear of alarming customers and staff. That means you may only be able to find out that an owner is interested in selling by asking them directly. Even if they’re not looking to sell, they might point you in the direction of business owners they know who are in search of potential buyers.

Browse Websites Listing Small Businesses for Sale

Websites like BizBuySell.com and Franchisegator.com are a great place to start looking for businesses for sale, especially if you’re open to buying a business that’s not in your local community. These online aggregators list a wide range of small businesses and franchises for purchase and make it easy to search through their extensive listings by factors like price, location, and industry.

Doing research online makes comparing different options quick and easy and provides you with a wealth of details almost instantaneously. Plus, you can often set them to notify you when a business goes on sale that meets your specific criteria.

Keep an Eye Out for Advertisements

While small businesses aren’t all that likely to put up advertisements on their own property, many do choose to post “For Sale” ads in local newspapers, industry publications, and classified ad websites like Craigslist.org. Be sure to check these sources frequently so that you don’t miss out on an opportunity in your area.

Spread the Word with Your Network

You’ve likely built business connections over the years with people who are in your industry or share your interests. This network is a valuable resource that you can turn to as you begin searching for a business for sale. Your network will have a good idea of the fields you’d prefer to work in and business types that would best fit your skills and lifestyle. 

Turn to a Business Broker

Business brokers are often hired to connect sellers with buyers and assist with the negotiating process. Both individual business brokers and larger brokerage firms typically have access to a large pool of businesses for sale and share this list with potential buyers.

Working with a business broker is almost always the best option for first-time buyers. One often-overlooked advantage is a broker’s ability to help buyers determine what they want out of a business so they don’t waste time during the search. A business broker can introduce you to industries you may not have previously considered and will provide much-needed guidance as you assess different options.

A business broker won’t just help you move in the right direction concerning industries and business types. Their experience can be extremely valuable in understanding the difference between a good deal and a bad one. With a broker, you’ll be more likely to avoid pitfalls that could lead to making a decision you ultimately regret.

Finally, business brokers take over the complicated process of negotiating the deal between the buyer and the seller. You’ll sidestep a lot of stress, save time, and have a clearer understanding of what you’re purchasing when you choose to go through a business broker. For these reasons, using a business broker is one of the most efficient ways to discover small businesses for sale that are right for you.

If you’re ready to find a small business for sale, don’t hesitate to contact Murphy Business Brokers today. Call (888) 561-3243 to connect with one of our local business brokers and get started with a free consultation.

Buy a Company with Confidence with Murphy Business

Murphy Business Brokers can help you find the perfect business.If you want to open a business, you don’t have to start from scratch in order to launch a successful enterprise. In fact, building a business from the ground up comes with a multitude of risks and a high level of uncertainty. Before you can even establish steady cash flow, you’ll have to put plenty of effort into marketing the business and cultivating a customer base. When you buy a company, you can avoid these disadvantages while enjoying the benefits of owning your own business.

If you buy a company through an experienced business brokerage firm, like Murphy Business, can save you time and energy. A business broker can also provide you with a greater level of confidence in your new endeavor. Our local brokers will act as your guide during the decision-making process, helping you make choices that reflect your goals every step of the way. In addition, we’ll assist you with sidestepping common pitfalls that could lead you to make a decision you’ll eventually regret.

How We’ll Help You Buy a Company

There are several steps that go into purchasing a business, and these steps can be quite complicated and time-consuming for first-timers. Having a business broker by your side will save you the stress of going it alone and ensure that you buy a business that is primed to succeed. Read on to learn more about how you can buy a company with confidence when you choose to work with Murphy Business.

Choosing the right business type

There’s no such thing as a “perfect” business. Like many things in life, it’s all in the eye of the beholder. The right business type for you may be the wrong choice for someone else. Until you know all of the options available to you, you won’t be able to make the best decision for your professional future. A business broker from Murphy Business can help you understand which business type will best match your skillset and previous experience. With our assistance, you’ll become more familiar with various industries and be more likely to select the right business for your goals.

Taking a closer look

Once you’ve chosen the business type you’re most interested in, we’ll help you narrow down existing businesses for sale in that field. One of the most important things our brokers do is prescreen businesses, which protects our clients from investing in especially risky ventures. Our system has a proven track record for doing due diligence on business valuations. When you work with us, you’ll know exactly what you’re buying and who you’re buying from.

Sealing the deal

Negotiating the final purchase contract is rarely a straightforward process. However, we can help make it less of a headache for both parties. We’ll represent you during negotiations, assist with writing contract terms that reflect your intentions, and find workarounds for any roadblocks that come up between you and the seller. We can also guide you in acquiring financing and help you avoid commitments that could lead to a cash shortage.

Making a smooth transition

You can count on us to pave the way for a smooth transition that enables you to put your best foot forward as a new business owner. First, we’ll help to negotiate a purchase agreement on the best terms possible. It’s crucial that both you and the owner feel good about what will happen to the business when they finally make their exit. In addition, ending things on a positive note will make it easier to have a successful start with employees, customers, and suppliers, who will all be key players in your daily operations.

We can also help lay the foundation for a smooth transition by writing training terms into your contract with the seller. Depending on the business type you’re purchasing, the necessary training period could range from a couple of weeks to several months. This period is often critical for maintaining consistent business operations during and after the handover.

Buying a company with confidence is all about having the expert support you need to make the best decisions for your personal situation. When you rely on one of our business brokers to be your guide as you choose a business type, evaluate your options, negotiate terms, and finally become a business owner, you’ll have access to reliable information that informs your decision-making process and instills you with confidence about the future.

Learn more about how you can buy a company with confidence today. Just call Murphy Business at (888) 561-3243 to connect with a business broker in your area.