You have decided to buy or sell a business, now what will you do? It is always good to know your options before buying or selling a business. Here are some of the routes you might take:
Market Research Before Selling or Buying a Business
When there are thousands of businesses for sale on the market, market research might be time consuming. If you haven’t done so, check out these articles from SBA (Small Business Administration) about buying a business, and these articles about selling a business.
Buy or Sell a Business via a Local Business Broker
There are advantages and disadvantages of hiring a local broker to buy or sell a business. Many brokers will only charge if they sell your business. Some brokers offer a list of businesses for sale and it is always great to see what is available in the market and get an idea of the price range for related businesses. Here’s a list of local business brokers in the US and Canada by state. When you are ready to buy or sell a business, start with an extensive market research, then I’d recommend to get a consultation from a local broker first.
Buy or Sell a Franchise Business
If you have the cash to invest and if you are not experienced in business, I’d highly recommend starting with a franchise. Most of the franchise businesses comes with a great business plan and forecasting. When you need help, the company does everything to help you succeed. Owning a franchise comes with many advantages.
If you are planning to buy a franchise, here’s a great site about franchise opportunities. They have bunch of information about franchises and a great directory of franchise business listings. Also take a close look at Top 500 Franchises by year at entrepreneur.com . More listings and information about franchises.
Best Places to Advertise your Business for Sale:
- Sell a business at BusinessMart.com
- List your business at local classifieds sites such as Craigslist.
- If it’s an online business, you might also try SitePoint Marketplace.
It is always good to get a word out there when you decide to sell your business. Your competitors might be interested in buying it, and it might be an indirect way to let them know. Business brokers also may contact your competitors to let them know about your business.
BusinessMart.com has become the fastest growing business for sale search engine, helping buyers and sellers of small businesses and franchises. BusinessMart.com has many resources to help you on your journey to start your own business, sell your existing business or open a franchise. I’d recommend spending some serious time on BusinessMart.com if youare buying or selling a business.
Article by Ahmet Kirtok
Ahmet KIRTOK is a New York City based entrepreneur and small business consultant. He is the founder & owner of Small Business Arena
Ahmet has contributed 70 articles.
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{ 6 comments… read them below or add one }
Business seems almost like a commoditiy these days with franchise businesses and home based businesses. Middle class America is, I suspect, the reason for this. It will be interesting to see the changes ten years from now.
Thanks for the link to businessmart.com. Hadn’t been aware of it’s existence. I think the hardest part of selling or business a business is determining a fair price. How solid are the revenue numbers going forward? What are the market risks? If you are the buyer, roll up your sleeves and verify the numbers through bank statements. Don’t rely solely on owner generated financial statements.
Come up with your own business if you want success. A 9-5 job won’t really make your rich.
Good insights. I also recommend Craiglist because when I attempt to buy a business and look under Craiglist listing there a lot to choose from.
I would like to suggest another website designed to buy and sell businesses. http://www.usabizhub.com/
You should try some of the free online business coaching websites like Revenue Blitz
Franchising is a great business option, it gives you the opportunity to go into business with an excellent chance of success, while at the same time minimizing your risk of failure, would like to recommend this website http://www.franchisesformoms.com great website specially for moms with the latest Franchise Opportunities and Ideas, work at home franchise opportunities as well.