Where to Find Businesses for Sale
More and more aspiring entrepreneurs are turning to the "buy then build" model, rather than take the risk of starting a new business from scratch. Buying an existing business from a retiring or exiting owner affords new business owners the opportunity to start with an established income stream and business model, then grow it and make it their own over time. But where do you find business owners looking to sell?
1. Business-For-Sale Marketplaces
Just like all home for sale listings have moved online, so have business for sale listings. Business sellers are looking to tap into the largest audience possible to find buyers that suit their criteria, so online business for sale listings have surged.
*Self-serving suggestion alert. You are on BizBuySell, after all – it's what we do.
The first stop if you're looking for businesses to buy is to search online. You will find hundreds or thousands of businesses for sale in your area. You can start by browsing listings by type of business, or by location. There are over 40,000 business owners looking to sell on BizBuySell, and that number grows almost every year.
If you haven't already, create a free BizBuySell account to access a wealth of information and tools to help you navigate the business buying process. Get access to:
- Saved Listing Alerts. As a BizBuySell member, if you don't find anything that interests you immediately, you can set up alerts that notify you via email when new business listings are added that meet your search criteria.
- Valuation Reports. If you want to research pricing for specific business types in local markets, these reports give you access to detailed listing data from thousands of for-sale and sold businesses.
- BizBuySell Edge. If you want to access more advanced search tools, an Edge membership includes educational videos, advanced listing stats and custom recommendations.
- Business Broker Directory. If you need help from a professional, BizBuySell has the largest directory of business brokers available anywhere.
2. Professional Business Brokers
Business brokers typically represent the seller, yet many also offer assistance in the buying process. A good business broker should be well-connected and familiar with businesses for sale in the local market. Some specialize in certain types of businesses, such as restaurants or retail stores, so choose your broker accordingly. One of the easiest ways to find a business broker is through a business for sale listing that interests you. Many listings are created by brokers, and will have contact options plainly listed.
(To learn more about how business brokers operate, see our section on Working with a Business Broker.)
3. Your Network of Friends and Colleagues
Make your intentions to buy a business as widely known as possible. Let your friends, family, past coworkers, and business associates know you're looking into purchasing a local business. Having a warm introduction through a mutual contact makes it far easier to build a relationship with the business owner. It also saves you time from searching through an outside organization or a broker.
Your network of friends and colleagues may include:
- Professional colleagues. This may include former co-workers, vendors, suppliers, LinkedIn connections, or any professional groups and associations.
- Accountants and attorneys. These experts are often very well-connected with a network of business owners, as well as their own colleagues who may be selling a business.
- Friends and acquaintances. Get the word out and let your friends know that you're interested in buying a business. They may know someone who wants to sell.
- Business owners. You may already have your eye on a certain business. Consider contacting the owner directly and ask if they'd be interested in selling.
Reach Out, Follow Up and Stay Organized
Searching for the right business to buy is a learning process. As you reach out to business owners and brokers, you will begin to understand how the process works, what business owners are looking for, and how to get at the information you need to make informed decisions about which businesses warrant your time.
As you get started, create a spreadsheet or document to keep track of the businesses you are interested in. Make a note of every interaction, from your contact and their response, through any NDAs signed and financial information shared.
As you begin to accumulate information and experience, you will develop an understanding of the market and how to process works.
To learn more about buying a business in general, see our Learning Center section on How to Buy a Business.