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Best Websites for Buy/Sell Business

phlgirl

Bronze Contributor
Read Millionaire Fastlane
Aug 29, 2007
813
173
85
Philadelphia
The next phase in our (husband & I) plan is to start buying businesses. We will always be involved in RE; however, think it is important to start thinking about building additional streams of income. Particularly due to the fact that we are planning to move back north, in a year or so, where the residential RE market is just plain tough when it comes to cash flow.

In educating ourselves for this next step, we plan to read A LOT. We have also been told that Deal Flow is critical. Similar to RE, you have to look at an awful lot of deals before you find one that works. That said, I am looking to make a good list of websites which list businesses for sale. Here is what I have come up with so far.....

www.bizbuysell.com
www.loopnet.com
www.bizquest.com
www.firstlist.com


Any one else have good lead? Web based or otherwise?
 

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White8

Contributor
Dec 6, 2007
272
45
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Salem, OR
You should also look at your local business broker websites as well as contact the brokers directly. As with RE, often the best businesses are not listed.
 
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phlgirl

phlgirl

Bronze Contributor
Read Millionaire Fastlane
Aug 29, 2007
813
173
85
Philadelphia
Perfect, White. Just what I needed. I am on a good-sized PHL broker site now and it is almost a completely different list, from what I had seen so far. Was really hoping that there was a lot more out there. :) Thank you.

Have contacted a few brokers but need to make a list, so I can track. ++++
 

White8

Contributor
Dec 6, 2007
272
45
30
47
Salem, OR
Another place to look would be the commercial offices of the larger realty companies such as Coldwell Banker and Prudential.

Keep in mind with business shopping that often business brokers will not co-op commissions with other brokers and in some states (Oregon being one of them)business brokers are not required to be licensed. The better ones are. I've also found that the brokers who are higher end acquisition and merger brokers who happen to have listing for more reasonably priced businesses are much more straight forward with information and are much less likely to play games. One trick I've found of some brokers is rolling the owner's/manager's salary into cashflow which is fine if you intend to manage the business but if you need to hire a manager, cashflow drops significantly.

When you do find a business you are interested in be sure to talk with your accountant and attorney. Business books can easily be cooked and the devil is in the details when it comes to the transaction itself. Non competes are a must as well as protecting proprietary aspects of the business. For example you don't want to buy the best pizza restaurant in town, forget to include the sauce recipe in the transaction, and six months later find the former owner selling jars of sauce to your competition and the local grocery store.
 

Yankees338

Bronze Contributor
Jul 24, 2007
1,829
136
81
28
NJ/MD
I don't know if this goes for all areas, but I know that my area (North Jersey) has a section on our MLS site with for-sale business listings. I've also seen some businesses for sale in the backs of magazines like Inc. in the classified sections, but I don't know how good those listings are.

White8, good post. Rep+++ for the advice!
 

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