The ratio of businesses for sale in Toronto to the number of potential business buyers is approximately one seller for every ten buyers. This makes it a real challenge to buy a profitable business. To find a business for sale, Ontario potential business buyers should consider the options below to find a reasonably priced opportunity with good potential:
1. Directly contact businesses you are interested in
Since most small businesses are not for sale at any given time, this is one of the least effective methods available. Some might say that at the right price, everything is for sale. However, in our experience, it can be time consuming, incredibly costly, and painful to convince an unready and unwilling business owner to sell his business.
2. Broker Sites
In the sale of businesses, brokers are generally quite internet savvy. Potential buyers can get a first mover advantage by visiting the broker site because brokers usually list options there first before posting listings on other sites.
3. Websites that List Local Business for Sale
Toronto business buyers can try small “business for sale” local sites. However, most of the listings come from the owners, and there are not many listings on any particular site. Plus, many of the business listings tend to be extremely overpriced, since most owners have an inflated perception of what their enterprise is worth.
4. Business Exchange Magazine
If you are looking for an existing business for sale in Toronto, this magazine has hundreds of listings for small businesses. It is published in major Ontario cities and can be found in most real estate offices. Gas stations, convenience stores, dry cleaning businesses, and restaurants are the main types of businesses listed.
5. Buy a Franchise – but one that is proven!
From a risk perspective, the vast majority of our clients have found this to typically be the best option as proven franchises are far more successful than “start from scratch” businesses; they are also far more readily available then good existing businesses that are available for sale When you become a franchise owner, you have a support structure available at your fingertips. It takes a lot of the guess work out of your hands. You will have a proven method of success and will be aided in finding new clients. Plus, when you enlist the help of a franchise expert, like Gary Prenevost, you can be sure you are finding a franchise that leverages your skills, interests and knowledge.