I am interested in buying an established local business in Southern California, preferably not in tech or SaaS. I am looking for something like an HVAC or vehicle repair shop, ideally run by a boomer who has been in business for over 20 years, has fewer than ten employees, and is looking to retire.
Since these types of businesses might not be listed online, where would you suggest I start my search?
It is possible to look for business brokers. They work like real estate agents for businesses.
Consider using BizBuySell or your personal network.
One of my business partners spends his days scouting for businesses to acquire, constantly on the lookout for companies to merge with ours. A highly effective strategy we use involves compiling a list of target companies and reaching out to their owners via email and direct mail.
We typically send out around 1,000 emails and letters at a time, which generates an excellent response rate. In these communications, he outlines what we’re looking for and inquires if they have any interest in selling. If there’s mutual interest, NDAs are signed, allowing us to review their financials and other details.
This approach works well because many company owners haven’t seriously considered selling or don’t know how to start the process. Our outreach often sparks their interest.
Do you have any specific areas of expertise?
It’s similar to looking for a house; it never hurts to inquire and all they can say is no. Well thought out.
How is a targeted list assembled?
Speak with six local brokers for business. Inform them of your spending limit, the kinds of ventures you are considering, or even just that you are open to anything.
Bizbuysell or personal network
Talk to Sunbelt or Business Transfer Specialists, both of which are brokers (at least in my area). Your local chamber of commerce or Small Business Development Center (SBDC) might have information on unlisted businesses. If you’re considering franchises, FranNet and similar organizations can provide knowledge on local options.
Age doesnt matter to this guy. He could be an amazing new rapper at 50 and start a career if he wants it
Hey Kyla,
To find businesses for sale, use online listings. contact local brokers, network at industry events, check local classifieds, explore online auctions, and directly approach businesses. Conduct thorough due diligence before purchasing.