Where Can You Find A Business to Buy?
ONLINE RESOURCES TO ASSIST YOUR SEARCH FOR A BUSINESS...
Our Business Brokerage firm is approached daily with Buyer inquiries for listings we have for sale. We estimate over 80% of these prospects come from our online ads with 3rd party websites. This post is a helpful guide for Buyers interested in finding a Company for Sale and some tips on how to get listings sent automatically to your inbox from those websites and from our Company.
Business Sales are Different than Residential Real Estate Sales:
First, Buyers should understand the market for selling a business is very different than when you purchase a home. Realtors have a Multiple Listing Service (MLS) that broadcasts the sale of their listing and also have an active company website that advertises pictures, listing details and financing options. Confidentiality is not required so Buyers see exactly what is for sale and for how much. This is not how business brokers sell companies.
3rd Party Websites - Bizbuysell, Bizquest, Businessbroker.net, businessforsale.com, Dealstream, Axial and Equire
There are a number of 3rd party websites devoted to listing businesses for sale in the United States. We typically find buyers only concentrate on 1 or 2 but it might make more sense to monitor each site for the following reasons; 1) Business Owners post listings on their own and will not pay to advertise on more than just one website, 2) Business Brokers may only advertise their listings on 2-4 websites, 3) A few websites such as Equire & Axial tend to have larger listings. Equire for example sets a minimum of $750,000 in SDE/Cash Flow. Axial has more of a subscription model and I've heard good things regarding this website with a number of buyers.
Business Broker Websites:
Buyers can also receive listing information directly from business brokers by signing up for the brokers listing alerts or newsletters. At Playbook Advisory, we attempt to place buyers into the right bucket so that they only receive listings that are of interest. We usually like Buyers to provide feedback so we can update preferences. We like to know the following; 1) Location, 2) Amount of Cash Flow/SDE required, 3) Amount willing to invest, 4) Financing needs (SBA).
Although I'm aware of other Chicago business brokers that might be good for buyers to monitor, I will choose not to plug any of them online here. However, if you send me an email I will respond with some tips on who I think can help your search.
The search for a business can be exceedingly difficult at times but the rewards are life changing. Contact Jim Peddle at 312-525-9622 to discuss your needs or email me at firstname.lastname@example.org.