The number of potential business buyers in the city of Toronto outweighs by far the number of potential business sellers by a ratio of 10 to 1 at least. As a result, buying a profitable business can be a real challenge. Below are some options potential business buyers should consider to locate businesses for sale with a good potential that are reasonably priced:
International business for sale websites: some of these websites are businessesforsale.com, bizbuysell.com, Mergernetwork.com etc. . These websites are very professionally built and have hundreds of registered buyers who receive new business opportunities as they become available. Most business brokers are registered in these websites and regularity post their own listings, which insures that business listings are reasonably priced.
Brokers‘ websites: these are generally Internet savvy brokers specialized in the sale of businesses. Their listings are first listed in their own websites before being listed in other websites, giving a first mover advantage to potential buyers.
Business Exchange Magazine: this magazine is published in major cities in Ontario with hundreds of small businesses for sale and can be found in most Real Estate offices. Unfortunately most businesses listed are restaurants, convenience stores, dry cleaning businesses, gas stations, second and third tier new franchises etc. . Buyers interested in other types of businesses will generally not be well served by this magazine.
Contacting target businesses directly: this is one of the least effective methods as most small businesses are not for sale at a given time. Some argue that everything is for sale at the right price but my experience has taught me that getting an unwilling unready business owner to sell his/her business can be really painful, time consuming and very costly.
Smaller Local Business for Sale Websites: These websites have a much smaller number of listings and most listings are listed by their owners. Since most owners have an inflated perception of what their businesses are worth, most business listings tend to be extremely highly priced.While I strongly believe that a very motivated buyer with enough energy and persistence, will always end up buying a business, I must admit that the odds are simply against most would-be business buyers. Statistically less that 10 % of North American potential buyers actively looking for a business to purchase never buy.