The BizBuySell Small Business Community

  • Get Expert Advice

  •  • Find Local Service Professionals

  •  • Share Your Experiences

I found a business I want to purchase, where I can find investors to help me get this venture started?

No User Photo

Answer This Question

max 5000 characters

Web Reference (optional)

e.g., "www.mywebsite.com"

Review Community Guidelines

Help keep our Community clean and on topic. The BizBuySell Community is a place where you can discuss your questions, concerns and knowledge with others you can trust. It is not OK to use this forum to solicit others for personal or financial gain, or to rant about personal issues. It's all in the guidelines.

Submit Your Answer
Answers (4)
No User Photo
Peoria County, IL

Thank you, Mr. Barrick.

Jan 21, 2014
No User Photo
The BAF Group LLC
MD

Absolutely! But there is a lot more to it than that! The Broker will very likely want to know that you have the financial ability to purchase the business, before sending anything out to you in the way of financial information. This is a classic "chicken-and-egg" situation. Do you have any money of your own with which to demonstrate the ability to qualify for an SBA loan? Do you have experience to run this kind of business? The answers to those two questions are paramount, because if you have absolutely no money of your own, you need to think about putting together your investor group first, using your own experience and capabilities to attract them. No Broker (or Seller) wants to just send out private financial information to someone who is not qualified. You need to demonstrate some financial resources, one way or another, for any Broker or Seller to even listen to you.

Jan 21, 2014
No User Photo
Peoria County, IL

Can I contact the broker for this business I'm interested in to get basic financial papers to help me in building my business plan?

Jan 21, 2014
No User Photo
The BAF Group LLC
MD

Your best bet is always through your own, local networks. How many attorneys and accountants do you know? How many other entrepreneurs do you know, who may be willing to give someone else a shot? Getting others to invest in your particular business can be a long and extremely frustrating process. Certainly, it can be done; however, you need to be armed to the teeth with an extraordinarily professional Business Plan, and sound concepts to explain it.

Jan 19, 2014

Start a Discussion