Q: Where’s the best place to find a business for sale?
Oct 13 2009
Answered by: Marc Barber Ask a question
As is the case with many things these days, the internet is a good first place to start. Websites such as www.businessforsale.com, www.daltonbusiness.com and www.nationwidebusiness.co.uk help you search by business sector and location. Many sites let you search for free, but other charge a subscription or fee. Newspapers and magazines can also be a good source. The business pages of the Financial Times, The Times and The Sunday Times include many businesses for sale. If you are looking locally, your local newspaper may have a section for this. Other possible sources include Dalton’s Weekly and Exchange and Mart. If you know the business area you want to tread in, also take a look at trade journals for that sector.
The details given in the advertisements will be very brief; it may only include the market, the general location and some indication of the income from a business. Note that a number of the advertisers may be the receivers of a business, trying to sell it as a going concern. If the advertisement is by a liquidator, the aim will be to sell off the assets or bits of the business, as it will not be possible to sell it as a going concern because there is no goodwill.
Another source to try is business transfer agents and estate agents. They carry details of small businesses for sale; estate agents will be mainly concerned with retail businesses. You can find the names and addresses of agents in the area you are interested in by looking in Yellow Pages or using the ‘Brokers and Agents’ section on the www.rightbiz.co.uk web site. These agents are not independent advisers but are acting on behalf of the business being sold.
Finally, try asking around in the area you want. Try accountants, solicitors and banks. These sometimes maintain a register of a business for sale. You can also try someone already in the industry for ideas of what might be for sale. Advertise in a local trade magazine for a business you want.
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