If you’re looking to sell or buy a business then you’re making one of the biggest investments in your life and would require a lot of due diligence before you decide to buy. There are a variety of places to buy a business online and there are many business’ for sale in many different industries. One of the best tips for buying a business is to not agree to the first quoted price and to try and haggle for a better deal.
Another tip is to keep it legal if you are bidding on a business that is over a certain threshold. You will want to protect your purchase legally and it might be worth employing a solicitor or business broker to handle the paperwork including any deeds for property being sold. Plan before you make an offer to buy and make the lowest offer you can. Be ready to point out why you think you should pay less for the business.
If your competitors are present you can create a degree of uncertainty by asking a lot of “what if” questions that might bring the sale of the business into disrepute and make your competitors feel nervous about the sale. At the end of the day something is only worth what it costs so be prepared to make a low offer but similarly hold out with a high offer in case a competitor outbids you.
Never disclose any information about how much money you have or what you can afford to pay when purchasing a business as this can lead into discussions about loans and other financial costs that are involved and you will want the seller to pay these or try and defer them completely. Try not to judge your seller too much as it can lead to ill feeling and they may withdraw from the sale.
Never over react to good or bad news when the seller discloses this and put on a poker face as they will see that maybe they have lowered their standards and might up the price on the business. If you are bidding against an opponent and they make some concessions on the sale of the business then you don’t have to respond with a better offer. Don’t stretch yourself beyond what you are capable of doing but instead try to negotiate better terms in different areas of sale.
Plan your negotiations well and use the correct terminology, by rehearsing your arguments and bidding decisions and you can try role playing the bidding process and arguments with a colleague before your meeting starts. Do not let the seller knock your confidence by coming back with better reasons and terms of sale, instead stay calm and quickly recover the deal and don’t just accept defeat.
If the seller or buyer in the sale of a business makes any threats with regards to the business then it’s better to remain indifferent than to react with anger or to return any threats as this can just make the situation worse. You will need the goodwill of the previous business owner when a business has been sold and it’s better to look into the future performance and link that to the price as this will reduce your risks with failure against the forecast. Below we have put together some of the best places to buy and sell business online and have included reviews and how to use the service.
UK Business For Sale claims to be the world’s largest marketplace for buying and selling your business. The website has a number of different areas for user interests including buying a business, selling a business, buying a franchise, broker sales and some advice and help for people buying and selling business’. There are a range business’ for sale including cleaning companies for sale, cafes for sale, burger vans, restaurants for sale and coffee shops plus many hundreds of other business ideas for you to browse over.
You can find a business on sale in many locations around the UK including London, Manchester, Leeds, Sheffield, Birmingham and many more places to buy and sell a business. On the website you can see the asking price, turnover and the net profit of the company. There is also a brief description of the business plus any property information if the sale comes with property. You can also find other relevant information including why the owner is selling the business and if there are any other assets including in the sale. Overall if you’re looking buy a business for sale then this website has plenty of business’ and franchise opportunities.
eBay is one of the worlds largest online marketplaces and auctions and you can find many good and profitable business’ for sale. There are many opportunities including fish and chip shops, T-Shirt printing companies, fast food takeaways, printing business, oven cleaning, dog wash companies plus many more business’ including online business’ for sale.
The sales on eBay are little more direct and you will properly have to do more homework to find out the companies details as some of the sellers can leave out vital information so be sure to do your due diligence before you make any major commitment. I guess one on the main advantages to buying a business on eBay is the access you get to go down and have look at the company running at short notice. One of the pitfalls would be paying for the company in cash with no real guarantees that it will perform so make sure to get all of the information about the company before you do this.
Daltons business is one the best places to a buy business online and has many thousands of buyers and business sellers from all over the UK. You can find many business’ for sale including hair and beauty salons, post offices, drainage companies, pet sitting, catering business, manufacturing and retail business’ for sale plus thousands of other small, medium and large business’.
You can buy business’ in many of the UKs towns and cities including Liverpool, Bristol, Glasgow, Edinburgh, Nottingham, Cardiff, Bradford and many more cities you can find business’ for sale. On their website you can filter the results of your search down to freehold, leasehold, relocatable business, work from home, franchise or business for sale with accommodation included. You can also find business’ with the price reduced and other business ideas that are open to offer.
You can find other details such as the turnover, profit and may be able to get hold of projection reports and accounts. You can hire a broker to see the sale of the business through if it’s your first time buying a business and feel uncomfortable dealing with business owners.
Right Biz is a UK marketplace for buying and selling business. You can buy UK franchises, commercial properties and also retail business for sale. Right Biz can have as many as 30k business’ for sale covering many industries including leisure business, bars, hairdressers, guest houses, nursing homes, Indian restaurants and many other business types including mobile business’ and business’ that you can move.
If you are new to buying a business online and would like some tips and advice then you can hire the services of a small business broker to help you purchase your first company however, if you are an experienced business person then you can go ahead and contact the business owners through the listings and make your inquiries. Most of the listings have some of the details on but if you want more information you will have to contact them and possibly even visit the company to get all of the details that won’t be published.
Gumtree is one of the largest classified ad websites in the UK and an ideal place to find cheap business ideas and businesses for sale. Simply click the link above and you can browse many listings and good franchise options. The ads have details of the the locations and the offer amount. Again this website with not be as secure as a dedicated website that sells business’ and you will need to do a little extra work in order to protect yourself from being scammed.
You can still use your broker to help you to purchase a business. Simply give them the business owners details and a link to the listing and they should be able to negotiate on your behalf. You can sell a business or buy them in many different locations including Cambridge, Coventry, Portsmouth, Norwich, Oxford, Aberdeen and many hundred more places to buy business’.
Overall Gumtree is a quick, easy and fast way to buy a business and you can buy them in many different industries including convenience stores and news agents, scrap yards, grocery shops, window cleaning rounds, minicab business’ and many more companies and business opportunities.
Business sale is one of the best websites to buy a business in the UK. To use their site simply choose the industry that you would like to trade in and then enter a city or town where you would like to trade. There are plenty places across the UK you can choose to operate a business, a few being Bath, Swansea, Exeter, Dundee, Derby, Stoke on Trent and Brighton as well as many other towns and cities around the UK. You can also opt to buy a mobile business like a dog grooming business or a mobile car valeting business that you can relocate easily.
The website also has information on buying a distressed business that may be having trouble with it’s finances or operating costs and cashflow. You can buy these business’ cheap however, you will be taking more risk. The website has helpful articles for buying business’ including due diligence, business investment, property funding, business valuation and tax advice. Overall the website is a good place to find business listings for sale locally and nationwide however, there are some details missing from the listings so you will have to do some extra work and ask for additional details.
Nationwide Business is a website selling business’ in London however you can also find business for sale in many other locations such as Peterborough, Canterbury, Blackpool, Carlisle, Lincoln, Bournemouth and many more locations through the UK. You can find many different business for sale including pizza shops, gift shops, Chinese takeaway, dry cleaners, launderette, sandwich bar and tea rooms for sale.
You can also find many franchise brokers and opportunities on the website including from popular brands like Subway, Domino’s and Papa Johns. There are some help articles for buying business including getting help with finance, working with solicitors and other helpful articles. Many of the business listings are detailed and have pictures of the premises for sale and other details such as the asking price, turnover, net profit and other costs such as leases and business rates.
RTA Business For Sale is one of the oldest and most established business auctions and websites where you can post your business for sale or you can sign up to check out business’ that are selling. There are a number of opportunities including MOT centres, commercial manufacturing companies, bed and breakfasts, petrol stations, care homes, off licenses, pharmacies and opticians.
You can buy a local business or you can travel to operate your business. There are a variety business locations to choose from including Chester, Durham, Middlesborough, Bangor, Inverness, Newport, Worcester, Newcastle and many more towns to find a business for sale. The website is easy to use and you can utilize their free support when buying a company or franchise or you can view their free magazine on business sales.
Overall the website is high quality, easy to use and has enough information to make a rough decision on your purchase however you will need to do a lot of digging and research before you buy. If in doubt when purchasing a company then hire a business broker to help you through the process.
Start In Business is an excellent resource for starting your own business and has many tips, advice and articles to help you on your way. It also has a section for buying a business or franchise and there are a number of business packages, franchises for sale, business training courses and other investment opportunities.
You find many more bits of info including a guide to starting your own business, business plans, information on company structure, regulations, trademarks and other useful links. The website is probably not as big as the other sites with business’ for sale but there are plenty of companies from many industries including agriculture, digital media, leisure and tourism, engineering, services, shops, retail and wholesale companies for sale.
You can buy from many locations across the UK including York, Wolverhampton, Southampton, Leicester, Plymouth and Doncaster. You may also find other business opportunities such as mobile companies and other companies that you can relocate easily.
Flippa is not an actual business website where you can buy tangible assets but a website where you can buy and sell online business’. Online business have become a bigger and more interesting investment over the years as huge sites can turn over a huge amount of money and you can profit easily from your investment. If you have limited capital then you might want to consider buying an online business however, there is more risk buying a company like this because it might depend on uncontrollable factors such as search engine traffic or Facebook traffic to earn revenue.
If you are want to purchase an online business or website then make sure to do plenty of research on how to run a website and how they make money otherwise you might end up buying a lemon that will fail straight away or your payments might be less secure when making a purchase. When buying a website make sure to use an Escrow service and have the domain transferred first and then forward part of the money. When the rest of the website files are transferred then you can pay the rest of the money.
Empire Flippers is another online marketplace where you can sell and buy online business’ or websites however unlike Flippa most of the websites are owned by a limited amount of owners and they are affiliate websites that use the Amazon affiliate program as a main source of income. Like websites on Flippa you will need to do a lot of due diligence and there seems to be more risk when you buy an online business in terms of being scammed.
The websites for sale on Empire Flippers are better quality than the ones on Flippa and you will probably have less hassle maintaining and running the site however, many of the sites they sell are ranked in search engines using blog networks so you might want to be careful there and make sure to check through the backlinks to see that you’re happy with them. There are always around 40/50 affiliates sites for sale and they all earn different revenues so you can find something to meet your budget.
Biz Buy Sell is one of the best places to buy a business online in the USA and has many business’ for sale and also has features to sell your business online. On the website you can find a list of business brokers that can help you to sell your business and might already have some investors and prospects lined up. You can buy many different types of business on the website including, apparel stores and gas stations, real estate, dry cleaners, hotels and motels, bars and clubs for sale, florists, supermarkets and many franchise opportunities.
If you are from the UK then this website might not be that helpful unless you are looking to buy a business in America. You can buy and sell companies in many states including; Florida, New Jersey, Maryland, Arizona, Minnesota, Indiana, North Carolina, Colorado and many more states across the USA. The website boasts over 100k sales and has over 45k business sellers that use the site including franchise companies, finance and investment angels. Overall the website looks like an excellent place to source opportunities to buy a business and has many articles and advice for buying a business.