Connect with our Operator Network to access operators from around the country that are currently or interested in searching

You can also consider buying this kind of data from data providers like Data Axle or Dun & Bradstreet.

Contact or Hire a Business Broker

A business broker can offer services that are akin to that of a real estate agent. They tend to have access to a database that lists businesses for sale. They have a network of relationships that give them access to deals. They can help you find listings like what you’re looking for, including the type of business, general cost range, location, and other features.

When you hire a business broker, you’ll be paying another person to find you a business. Beyond the fees, there could be concerns about whether it’s in their best interests to find you an established business that will meet your needs. Here’s a quick overview of the pros and cons of using a broker to find you an established business.

Cons or Disadvantages

While it would be nice if you could assume that a business broker has your best interests in mind, that’s not necessarily the case. Here are some cons or disadvantages you should consider:

A broker (usually) represents the seller. Unless you hire a buyer-focused broker, it’s in their best interest to make sure that the seller is satisfied with the process. That’s not to say that they won’t help you. They probably will, but you should keep in mind what their primary focus will be.
A broker may charge 5-10%. That’s not an insignificant cost, which will increase the overall price you’ll pay for the business. Broker fees may inspire the seller to consider selling the business without a broker’s help, as long as they don’t enter into an exclusive contract with a broker first.
A broker could be incompetent. Not all business brokers are competent or even honest. Buying a business is not an area that’s currently highly regulated.

So, you could get lucky and find a broker who will work tirelessly on your behalf to find you just the right business.

You could also find a broker who is unscrupulous, dishonest, and is just out to make a quick sale no matter how it might affect your long-term chances of success.

Pros or Advantages

404

This page could not be found.