Purchasing existing businesses for sale from somebody who is looking to cash out of their business or retire is a great way to become an entrepreneur! You buy an already-proven plus profitable business, and then use your skills and acumen to grow it more. However , finding owners who want to market is not always easy. Consider this your guide for finding and sizing upward good businesses to buy.
Business Opportunities Rarely Advertised
Most business sales are rarely known, largely because companies never want the word getting around to their workers and customers, who might stress about the change. Instead, most business people looking to sell are left without choice but to wait patiently for a quality buyer, or use an agent to market their deals.
Usually small business lawyers may know of a client who wishes to sell, however , it really is typically best to focus on a particular industry and just contact owners directly. To get this done, simply start calling business owners in your target industry, and ask if they know somebody who might be interested in marketing their business. Often it helps to not expect an immediate answer, but instead provide them with some time to think about it.
Instead, follow-up after a week or two by mailing your business card along with an inquiry letter.
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Lastly, call again to see if they have any ideas. This tactic communicates the fact that you are a serious purchaser. Even if the owners you speak to will not sell, they usually know someone who is.
If the above technique is not your cup of tea, or does not bring you quality leads, another thing you might consider our trade newsletters or business magazines. Often these will have classified ads for business owners in the industry planning to exit. These can be a great way to help you build leads in a particular market.
Business publications, each those dealing with a particular region plus particular industries, also have listings or even write ups of business owners that may be reaching retirement age. Many business owners in this stage of life want to retire, yet are unable to because they do not know what they will do with their business. You may be just the answer, by giving them a method to keep their legacy alive, yet leave more time for golf and grandkids.