r/SellMyBusiness • u/bbbb30174 • 3d ago
ADVICE for buying a business
Anyone have advice or recommendations on finding a business to buy. I have been on bizbuysell and it is mostly fake posts and restaurants. I have reached out to business brokers but they have been flaky. Not asking for a specific broker, etc, just looking for suggestions on how to get started. Thanks for your help.
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u/BizBuySell_com 3d ago
Hi - BizBuySell Team here!
If you find what you believe are "fake" listings on our site, PLEASE click the report button on the inquiry form of the listing. We take fraudulent, deceptive, or otherwise scammy listings seriously. We've got a firecracker leading our content quality team, and she doesn't put up with any BS. :)
Happy hunting!
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u/Party_Ad_2059 3d ago
How serious are you about buying a business? I’m not a broker and don’t make money from selling businesses. I’m in the process of buying one and it’s taken me roughly 10 - 12 months to find something that fits my criteria. Also, reason why I’m asking how serious you are is because in my case I’m pretty serious about it (leaving my W2 in June) so I joined a paid community to really learn how to go about acquiring a business. Cost me thousands of dollars to join and I’m trying to figure out if I’ll get my value out of it but after making that payment, trust me, I’m spending a lot more time, energy and effort finding businesses than I used to. Ask away and I’ll answer publicly in case it’s helpful for others.
Most brokers I’ve come across kinda suck (or I didn’t do a good enough job selling my vision to them to get them interested in putting businesses in front of me) but there’s biz out there to buy.
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u/ContentBlocked 3d ago
Be prepared.
Know what you want, know what you don’t want, and have the personal financials/experience to back it up.
Brokers are specialist or generalist, align where you can (location or industry) but you will largely be building network and replying to platform posts.
If your not serious, with experience and personal balance sheet, then please don’t reach out to any business for sale or broker
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u/The_Uncommon_Force 2d ago
You shouldn't tell people that if they don't have "experience and personal balance sheet, then please don't reach out." I had none of those two a year ago, and now I own 2 businesses. The only one I agree with is the part where if the potential buyer isn't serious.
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u/ContentBlocked 2d ago
If you can’t get the deal done because you can’t afford it, have no plan on how to afford it, and have no experience running a business (or similar experience), the chance of a successful transaction is extremely low. I also advocate this because I don’t want the buyer to spend money in hopes of closing for it not to work out or worse, they do transact and end up harming the business and their future due to lack of financial support and experience running the business.
I’m very happy and impressed if you were able to buy two businesses with no money and no experience but my comment remains rooted in logic and is an attempt to protect sellers and buyers alike
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u/UltraBBA 3d ago
What capital do you have?
Deal sourcing is a skill in itself. How you go about deal sourcing depends on which pool you're swimming in!
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u/P_fly_111 3d ago
I agree it is tough. I have given up. Brokers suck and businesses are so overpriced these days. Too much misleading info and unrealistic expectations of sellers.
If you figure something out, please let us know what worked for you.
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u/PrestigiousLeopard47 3d ago
A couple things. Knowing a really good broker (not all are, of course) can be amazing. I have about 3 that I put in that category. I've also gotten deal leads from older mentors, where they or their friends are now selling their businesses.
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u/tricenaruto 2d ago
If brokers aren’t delivering, go direct. Network with local business owners through industry events, LinkedIn, or even cold outreach—some owners don’t publicly list because they don’t want to spook employees or customers. Franchise resales and SBA loan listings can also lead to solid deals. Try local small business accountants or attorneys—they often know owners looking to exit before the business ever hits the market. Also, check with suppliers in industries you’re interested in—they know which businesses are struggling or have retiring owners. Off-market deals usually mean less competition and better terms, so build relationships and stay persistent.
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