Find a Business Opportunity

Finding a Business

Whether you are an individual or a corporate buyer looking for a business acquisition opportunity, there are a few ways to go about finding the right business. Buying a business involves careful planning and a lot of financial, legal, tax, lifestyle and emotional considerations. The following insights will help first-time buyers and even seasoned entrepreneurs to better prepare for the important step of buying a business:

1.Things to keep in mind in your business search
Do your strategic, personal, and financial planning before getting started
Consider carefully what the implications will be on your life, lifestyle and family
Decide on whether looking for an independently owned or a franchise business opportunity
Be open minded and flexible
Look for businesses where you will leverage your skills and strong points
Involve other decision makers early in the process
Be mentally and financially prepared to make the jump when the right opportunity comes

2.Some common places to look for businesses for sale in Canada:
Business-for-sale websites (i.e. BusinessesForSale, MergerNetwork, BizBuySell)
Specialized industry publications and magazines
Local newspapers and publications (“Business Opportunities/Business For Sale” section)
Approach (very confidentially) business owners of businesses you like
Contact a Business Broker in your area

Regardless of how you go about looking for businesses for sale, keep in mind that you will need to dig through many leads before finding the right fit, or even before finding a single viable business opportunity. This is why, it is always in the buyer’s best interest to work with an experienced intermediary who has already reviewed the opportunity, compiled all necessary information and present that professionally and concisely. The importance of such intermediaries becomes even greater in the latter stages of the business buying process, however, is essential already at its onset.