How do I find a business to buy?

There are number of ways to find a business to buy. Some are obvious, but a few are more subtle.

Here are the main strategies:
 

• Business brokers. There are a variety of business brokers that specialise in selling existing businesses in specific industries.

• Competitors. Perhaps the most obvious place to find an acquisition target is among your competitive set, although rivals may not necessarily welcome a conversation with you initially.

• Directories. Business directories are particularly useful for entrepreneurs looking to buy into a franchise.

• Investment advisors. Investment banks and other advisers such as accounting or restructuring experts often offer businesses for partial or full sale.

• Sharemarkets. Depending on your size and industry, primary or secondary sharemarkets may throw up acquisition opportunities.

• Insolvency professionals. When businesses get into trouble and are placed in administration, receivership or liquidation, insolvency professionals are often forced to sell off part or all of the business. Careful buying is required, but bargains can be found.