You’ve made the decision to buy a business; now you must find the right deal.
The best business opportunities are found by using all or some of the resources listed below.
Traditionally, buyers seek multiple business intermediaries to locate and handle a business purchase transaction. Business intermediaries have access to databases for buyer-directed searches and often to opportunities in advance of other buyers.
Questions to ask when interviewing prospective intermediaries:
- Are they in a brokerage network?
- Do they use this network to buy and sell deals with other intermediaries?
- Are there other intermediaries within the network covering the same geographic area?
The business section of local newspapers and national publication sources such as The Wall Street Journal are good sources for business opportunity listings. The Internet makes searching for business opportunities infinitely easier and is the closest source of a centralized information. Professional connections such as a bankers, CPAs and attorneys can augment the pursuit of viable businesses. Databases with powerful filtering options make direct mail campaigns a new resource for buyers. More importantly than resources, a buyer must be ready. When the business type meets the requirements, do not waste time- act quickly and decisively.