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best way to look for a business to buy

Posted: Sun Aug 07, 2011 3:12 pm
by bb
I have been to websites like bizbuysell.com and noticed
that most of the businesses are restaurants, gas stations,
etc. Any opinion on the best way to research businesses
for sale. How are businesses generally sold once you get
beyond restaurants, laundromats, gas stations, small
retail stores, etc. I assume business brokers but don't know
that's why I'm asking.

Re: best way to look for a business to buy

Posted: Sun Aug 07, 2011 4:38 pm
by clacy
bb wrote:I have been to websites like bizbuysell.com and noticed
that most of the businesses are restaurants, gas stations,
etc. Any opinion on the best way to research businesses
for sale. How are businesses generally sold once you get
beyond restaurants, laundromats, gas stations, small
retail stores, etc. I assume business brokers but don't know
that's why I'm asking.
I can't imagine there are many successful businesses that are bought randomly (internet, brokers, etc) but I may be wrong. I would be terrified of buying a business that way. My father bought a business successfully, but he was very familiar with the operator and operations previously. And of course he was in the same industry.

Out of curiosity, what kind of business do you envision buying and how much would you spend. I ask strictly our of curiosity.

Also, I would be interested to hear from anyone else that bought a business this way and what your experience was like.

Posted: Sun Aug 07, 2011 6:09 pm
by bb
I can't really answer any of these questions. Service business,
distributor, small company that makes a product, company where
I could transition my technical background. I would like to do
research to see what's out there but all I typically see is small retail
businesses or restaurants. I have no idea what % of businesses
get sold vs passed on to family members but I would have to
assume it is a non-trivial percentage.

Posted: Sun Aug 07, 2011 7:25 pm
by avalpert
You might want to consider a franchise (there is a far broader range than just the fast food joints that are most well known) - and there are plenty of internet sites and organizations that will provide research and guidance in matching a franchise opportunity to your particular needs. Frannet is one for example that can network you with franchise owners near you to better understand the nature of owning that, and any, business.