Are you ready to strike out on your own? If you’ve always secretly felt like an entrepreneur at heart, maybe this is the year to find that exciting San Francisco Bay Area business for sale. But if you’re the new kid on the block, you probably have some questions. The last year has caused many workers to reconsider their priorities. If you’re ready to become your own boss, here are some tips to help you find a San Francisco Bay Area business for sale.
Buying a Business
Buying an existing business is often easier than starting from scratch. You can review financial statements, and there’s already a customer base to help leverage your marketing efforts. But if the entrepreneurial path is in your future, you’ll need to first put in some time to find the right San Francisco Bay Area business for sale.
Browse Online Listings
There are a few different ways that you can go about your search, but these are the main options to consider. BizBuySell.com is a large online marketplace for anyone looking to buy or sell a business. It boasts over 100,000 listings and continues to grow. You can even narrow your searches down by location and industry. There are other filters as well, such as cash flow and the date a business was established. Similar marketplace sites exist on the web, but BizBuySell.com is the most popular.
Work With a Business Broker
A business broker is someone who can help you find and purchase your San Francisco Bay Area business. They handle many of these types of transactions and can guide you through the process—from start to finish. Be sure to choose a business broker who has a lot of experience in the industry because you’ll be relying on them for their professional insight. Note that they often work for a commission of 10% (on average) of the sale price. Ask for references and be sure to interview a few brokers before making a final decision.
Get the Word Out
This is a great time to take advantage of your network. You might also consider putting an ad in the paper, or talking to local business owners. You never know who might give you a lead. If people know you’re on the hunt, they might come across a surprising opportunity. So much of the time we feel like we need to do everything on our own. This is especially true for high achievers. But the bottom line is to let people help you, and they can’t do that if you never ask.
Finding Your Business
We hope these tips were helpful, and we wish you luck. Remember, if you need a commercial escrow account in the San Francisco Bay Area, contact us at Bay Area Escrow. We’re happy to answer any questions you have about finding the perfect San Francisco Bay Area business for sale. For help with your business purchase or sale, our office can be reached at (925) 831-9099, or click the link to fill out a contact form.