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Buying a business in the Chicago area in 2022

If you are looking to buy a business in 2022 our firm can help you navigate the process from start to finish. Call us to learn how we have helped buyers for over 12 years.

Tips on buying a business from a business broker
 

Buying a Business - Moving to Entrepreneurship

 Buyer Strategies That Work

The great majority of buyers come to us and to other business brokers via 3rd party websites such as Bizbuysell or Bizquest. These companies aggregate the great majority of brokers listings, especially for businesses under $1,000,000 in market value or cash flow (SDE).

If you are starting your search or you are looking on and off, these websites are a source you can utilize in your acquisition search. First time buyers often find these websites as a primary source of leads and the best avenue for locating a business to own in the Main Street market. (Blog Post-Where Can You Find a Business to Buy?)

If you have been searching online for awhile and not finding the right opportunities we suggest you speak with us to pursue another market that has proven fruitful for prospective buyers. We have found that a secondary market exists for companies that are not listed for sale on these common websites. Opportunity exists for buyers who would like off market or pocket listings. Good brokers will have access to companies who will take meetings with buyers the broker has vetted. Quite often these are highly cultivated relationships built up over a few years as the sellers begin preparing for the day of sale. There are advantages and disadvantages to this type of search, for Sellers who don’t want to list for sale it’s quite often because of pricing or business valuation. We pass on many listings due to the unrealistic valuation expectations.

However, we offer a full service, independent buyer search program for those entrepreneurs who desire to take a targeted, direct approach to buying a business. Our firm will assist you by organizing a targeted engagement and we will handle the research, the cold calling, the preparation and mailing of either letters &/or email campaigns to generate activity. We also can handle the financial review necessary to complete a valuation of the business. Our knowledge can uncover both positive and non-positive balance sheet and income statement issues. 

For more information please contact Jim Peddle at 312-525-9622 or email president@playbookadvisory.com.

What our firm offers Buyers;

When buying a business, there are several strategies that can increase the chances of a successful outcome:

  1. Due diligence: Thoroughly research the business you are interested in, including its financials, market, competition, and growth potential. Look for any red flags that might indicate problems with the business.

  2. Networking: Network with other business owners, industry experts, and potential suppliers to gain insights into the business you are interested in and the industry as a whole.

  3. Negotiations: Negotiate with the seller to ensure you get the best possible price and terms for the business. Consider hiring a business broker or attorney to help with the negotiations.

  4. Financing: Consider your financing options and develop a plan to secure the funding you need to purchase the business. You may need to bring in outside investors, secure a loan, or negotiate a payment plan with the seller.

  5. Business Plan: Develop a comprehensive business plan that outlines your goals, strategy, and projections for the business. This will help you communicate your vision to potential investors and lenders, as well as give you a roadmap for success.

  6. Market analysis: Conduct a market analysis to understand the current market conditions, industry trends, and competition. This will help you make informed decisions about pricing, marketing, and growth strategies.

  7. Integration: Plan for the integration of the business into your existing operations, if applicable, and ensure a smooth transition. This may involve hiring new employees, relocating, or making changes to the business model.

  8. Continuity: Consider the continuity of the business, including key employees and processes, and develop a plan to ensure a smooth transition and ongoing success.

By following these strategies, you can increase the chances of successfully buying a business and achieving your entrepreneurial goals.


Where Can I Find A Business for Sale

Helpful Blog Post for Buyers

Are you interested in finding other Businesses for Sale?