How To Find and Size Up Good Companies for Sale
Purchasing existing businesses for sale from someone that is looking to cash out of their business or retire is a great way to turn out to be an entrepreneur! You buy an already-proven and profitable business, and then use your skills and acumen to grow it more. However , finding owners who want to sell is not always easy. Consider this your guide for finding and sizing upward good businesses to buy.
Business Opportunities Rarely Advertised
Most business sales hardly ever known, largely because companies never want the word getting around to their employees and customers, who might stress about the change. Instead, most business owners looking to sell are left without choice but to wait patiently for the quality buyer, or use an agent to market their deals.
Often small business lawyers may know of a customer who wishes to sell, however , it is typically best to focus on a particular market and just contact owners directly. To get this done, simply start calling business owners inside your target industry, and ask if they know somebody who might be interested in marketing their business. Often it helps not to 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 a good inquiry letter. Lastly, call once again to see if they have any ideas. This strategy communicates the fact that you are a serious buyer.
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Even if the owners you speak to will not sell, they usually know someone who is definitely.
If the above strategy is not your cup of tea, or does not provide you with quality leads, another thing you might try our trade newsletters or sector magazines. Often these will have classified ads for business owners in the industry aiming 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 and even write ups of business owners which may be reaching retirement age. Many business people 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 will be just the answer, by giving them a method to keep their legacy alive, yet leave more time for golf and grandkids.