If you’ve recently decided you want to become a business owner, congratulations! You’ve just reached a huge milestone in your professional career. If you’re interested in owning an established business but aren’t sure how to find businesses for sale, you’re in the right place. We’ll fill you in on the various roads that you can take to become a business owner by purchasing an already existing business.
Locate Businesses for Sale with These Methods
Whether you want to start your career as a business owner by a specific point in time or are simply on the lookout for good opportunities that may arise, there are a number of routes that can lead you to your goal. Here are some of the most common—and most effective—ways to find a business for sale.
Calling Businesses in Your Area
While you may not feel totally confident cold-calling local businesses at the start, taking this step can help you get a sense of the market in your area. Since many business owners don’t advertise that they’re interested in selling for fear of scaring off customers or startling employees, it’s not always easy to figure out which businesses are for sale without asking directly.
Of course, the vast majority of business owners you reach out to won’t be looking for an exit. Nonetheless, this doesn’t mean you’re wasting your time. The individuals you connect with may be able to refer you to other business owners who are interested in selling. Making these contacts is an essential part of establishing yourself within the network of small businesses in your community and growing the list of people you can reach out to throughout the journey of business ownership.
Browsing Online Aggregators for Small Businesses
It probably comes as no surprise that there are plenty of websites out there dedicated to posting the details of small businesses for sale, including sites like BizBuySell.com and Bizquest.com. Other websites, such as Franchisegator.com, are geared more towards advertising franchises for sale.
These sites offer tools that make it easy to search through different businesses based on their selling price, location, and industry. By using these tools, you can gain a better understanding of the businesses on the market in different locations if you’re not married to the idea of settling down in a specific area.
Putting Out Your Own Ad
Posting your own ad is a great way to get the word out that you’re looking to purchase a business. This route can bring about different opportunities than those you would find through a simple online search.
Whether you choose to post on Craigslist.com, a local newspaper, or an industry publication, you increase your chances of catching the eye of a greater range of business owners when you put out an advertisement of your own.
Working with a Business Broker
Partnering with a professional business broker is probably the most efficient way to go about buying a business. Instead of trying to figure out how to find businesses for sale and determining which options are worth pursuing, you can rely on a professional who knows the ins and outs of the process and can guide you every step of the way.
What’s great about business brokers is that they won’t just show you what businesses are for sale in your area; they’ll also offer you expert advice that’s personalized to your individual preferences and professional goals. This can be especially valuable if you’re uncertain about the best industry to enter, or how your personal skills and strengths can contribute to your success in different fields.
A broker can also expand your horizons about the many types of businesses out there—you might even come across an industry you’d never previously heard of that’s actually a great match for you.
In addition, the experience of a business broker can come in handy for knowing which businesses to avoid buying. After all, not every deal is going to be a good one, and you may not be in the right position to spot the pitfalls before diving in headfirst. Rather than making a decision you’ll regret, you’ll have the benefit of years of experience at your fingertips.
If you want to know more about how to find businesses for sale, get in touch with Murphy Business today at (888) 561-3243 to speak with a professional business broker in your local area.