Purchasing existing businesses for sale from someone that is looking to cash out of their company 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 further. However , finding owners who want to sell is not always easy. Consider this your own guide for finding and sizing upward good businesses to buy.
Business Opportunities Seldom Advertised
Most business sales hardly ever known, largely because companies usually do not want the word getting around to their workers and customers, who might stress about the change. Instead, most company owners looking to sell are left without choice but to wait patiently for any quality buyer, or use a broker to market their deals.
Frequently small business lawyers may know of a client who wishes to sell, however , it is typically best to focus on a particular sector and just contact owners directly. To get this done, simply start calling business owners within your target industry, and ask if they understand somebody who might be interested in promoting 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. Lastly, call once again to see if they have any ideas. This strategy 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 definitely.
If the above technique is not your cup of tea, or does not provide you with quality leads, another thing you might attempt our trade newsletters or sector 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 business.
Business publications, each those dealing with a particular region and particular industries, also have listings or maybe 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.
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You may be just the answer, by giving them a method to keep their legacy alive, yet leave more time for golf plus grandkids.