Small Business Websites (insurance, lawyer, CPA, agents)

[jbsvilla]

Can anyone recommend any websites for buying small businesses , advice, info etc ?

Thanks

[Niners fan]

You can search for businesses for sale at:

BizBuySell - The Internet's Largest Business for Sale Marketplace
Businesses for Sale | Business for Sale Listings | Buy A Business | Sell Your Business - BizQuest.com

There are others. Go to yahoo and search for "businesses for sale."

As far as advice goes, having purchased a business myself I wish we would have gotten a corporate attorney and CPA involved earlier in the process. The CPA can make sure the sale is structured in a way that is most beneficial for your taxes. A lot of what you buy is intangible "goodwill." The lawyer can make sure you take care of any loose ends.

[Dave1215]

Build a networking relationship with:

• local bankers,
• insurance agents,
• wealth managers,
• accountants,
• lawyers, and
• chamber of commerce...

....make sure your network knows you are looking - these are the folks that are know the small business person and will lots of times know those that are thinking of selling or are actively trying to sell.

Besides the above, you can:

• Check Sunbelt (a franchise business broker),
• Google "Business Broker" in your area and follow-up on each of those leads,
• Check with the commercial real estate brokers - some of them will deal with business listings,
• Monitor the Financial section of your classified ads - you probably won't find the business you want, but you will uncover other business brokers that you can follow-up with, and
• Finally, post on CraigsList your desire for a small business, you might be suprised at what comes your way (repost every 14 days so a new audience sees the listing).

It is a lot of work to find a small business and it is primarily through lots of effective networking.

[poconoproud]

Originally Posted by jbsvilla

Can anyone recommend any websites for buying small businesses , advice, info etc ?

Thanks

What kind of small business are you interested in buying?

[Kenlew]

Find a GOOD business broker. Remember that the broker is paid by the seller and therefore is the seller's agent. A good broker should assist all parties by making sure that the buyer and seller are educated about the process of buying/selling a business. There are NUMEROUS details that can and will derail a deal if not handled properly. You might try "www.ibba.org" and see if they can recommend a broker in your area. Check the broker's references. Good luck.

Ken Lewellyn

[Dave1215]

Originally Posted by Kenlew

Find a GOOD business broker. Remember that the broker is paid by the seller and therefore is the seller's agent. A good broker should assist all parties by making sure that the buyer and seller are educated about the process of buying/selling a business. There are NUMEROUS details that can and will derail a deal if not handled properly. You might try "www.ibba.org" and see if they can recommend a broker in your area. Check the broker's references. Good luck.

Ken Lewellyn

Good advice, but since business are not listed on a multiple listing service like Real Estateand they represent the seller, that one broker is not aware of most of what's out there.

So, connect with multiple good brokers in your search in addition to all of the other sources I previously mentioned.