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How can I find businesses for sale in my area?

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You may prefer to purchase a business instead of creating a business from the ground up. This is a smart way to get involved with a business that is already a proven quantity and avoid some of the painful steps involved with starting a business. However, the downside will be that you will have to pay for what you get. Unless you purchase a failed business, but then you will get a good price, but you will have some of the same problems of a new business as you try to make it profitable.

One of the best ways to acquire a business is by buying in as a partner. Many businesses take on a partner and eventually the partner will buy out the other partner and take full ownership. This can be very practicable because you will know fully how to run the business before you have complete responsibility.

The best way to find a business for a good price is through word of mouth or networking. You won't have all of the competition to worry about and you will get may be able to get first dibs on the business before it goes public. However, your network may have to be large in order to find the right business and you may need to be patient.

Another you could use is to hire a business broker. A business broker specializes in arranging the sale and purchase of businesses much like a real estate broker does with real estate. The advantage of using a broker is that he should understand the area and should have tabs on what current prices are and what will be hitting the market in the near future. He or she will be a great resource for advice and knowledge. The disadvantage of using a broker will be that they will charge a fee so you will be paying a higher price than if you were able to find the deal on your own.

The classifieds is also a great place to find a business for sale in the local area. Many newspapers have columns just for listing businesses for sale. This will give you an opportunity to see what is on them market and current prices. You may want to use a broker when buying these businesses too, because they can offer some very useful advice and help you determine the correct value of the business. Often a person selling the business themselves have an over inflated value of the business they have built.

You may also find some good online sites that will have businesses for sale. If listing an advertisement is free, you will find more `garbage' advertisements than a newspaper. Many network marketers use these types of sites to list their opportunities. However, online will be a good place to start searching and finding ideas when you are looking to purchase a business.

You may also talk to commercial real estate agents to find businesses for sale. They will have information on which businesses are moving or selling. They may have some really good leads on businesses that haven't listed yet with a broker or online. This will give you a jump on the competition.

In summary, there are many sources you can use to find a business for sale. The best sources will give you information on the business before the general public hears about the opportunity. This will give you a chance to make a deal before the competition drives the prices up or at least give you an opportunity to do your research so you will be ready to make an offer when the deal does go public.

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Posted by DF
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