How to Find Businesses for Sale
One of the best sources for local businesses for sale is your newspaper. Ignore the ads that have overwrought claims about how you can make thousands of dollars a week from your own home and the ones that promise to give you everything you need to get started in a particular business. These often turn out to be scams — remember, if it sounds too good to be true, it probably is.
Instead, focus on the ads for businesses that match your needs: small, home-based businesses that have been operating for some time. Assuming that these businesses are offering a product or service that you want to offer, one of them could be the opportunity you're looking for.
If you're looking for a franchise, contact the franchise headquarters of the company that you're interested in to find out more. Or, check out the International Franchise Association. You'll want to review what's called the Uniform Franchise Offering Circular (UFOC) as a starting point: It lists key information about the company, including initial costs, ongoing fees, training, and support.
You can also talk to commercial real estate agents or lawyers who specialize in business acquisitions — look for them in phone directories, on the Internet, or in local business associations. They often hear about businesses that aren't necessarily being advertised for sale, but are on the block nonetheless. (Owners may be reluctant to advertise that they're selling in case this discourages customers.)
Of course, there's no reason why you can't simply introduce yourself to the owner of a home-based business that you'd like to buy and ask if she's thought about selling. Even if she hasn't, your question might prompt her to consider your request, especially if it comes with a ballpark offer that she likes.
