One extremely effective way of finding good businesses for sale -- other than the "usual suspects" of the Internet and business brokers -- is by talking with your local attorneys. Now, that doesn't mean you should go out and say, Hey, Im going to have to hire an attorney, and the attorney will find a business for me. That's not what I'm talking about. No, I'm talking about if you happen to be working with an attorney right now, and the attorney happens to be a friend of yours or maybe the attorney happens to be a person representing you in a case (so you know him), what you should do is sit down and spend some good time with him. Dont just call him on the phone. Dont try to make up a list of things to send to 50 attorneys in your area. I'm talking about you going out and having a real, live talk with every attorney you know. Have breakfast or lunch with them, spend an hour, an hour and a half, two hours. Spend some good time with them. Why? Because each time you do this youre going to find that person is going to know about businesses for sale and will tell you everything you need to know. You see, most attorneys know about businesses for sale because a client has died and theyve been asked to help or to sell a business, or they happen to know someone from working in the office who knows of businesses for sale. And if you also let the attorney know that youre willing to pay him or her a fee for their help, it will only accelerate your progress. Why? Because their help can be invaluable. Worth way more to you than the fee you pay them -- which can and should be paid out of the money you make in the business anyway. Bottom line: If you want to find good, profitable businesses, with good employees and clean records, you should definitely talk to attorneys you know. And offer them a nice finders fee for their trouble. It more than pays for itself in saved time, frustration and money in the long run. |
