How to Acquire a Business

Buying a business is less challenging than building a new business from scratch. However, it is often much more expensive. There are countless businesses for sale at all times and in all price ranges if a person knows where to look.

Difficulty:

Moderately Challenging

Instructions

1. Look in the newspaper for businesses for sale. Most papers have a section of the classifieds devoted to businesses that are being sold. Inquire about the ones you're interested in.

2. Go to eBay. The online auction giant has a large category full of businesses for sale. The businesses for sale are located all over the world. Visit the businesses you're interested in. Register with eBay if you wish to bid on a business. It's possible to get a business for far less than its appraised value by bidding for it through eBay.

3. Get a franchise. Many of the stores, restaurants and service companies that you see every day are franchises that are owned locally. If you're interested in buying one, look for the company's website to find out about how to get one. Or, you might to the business itself and ask the manager for more information. Each business has its own rules about purchasing a franchise within that company. This often includes a mandatory training time.

4. Buy out a local business. If you see a lot of potential in a locally-owned business, offer the owner a buyout. If you offer enough money, chances are that you can acquire the business. A business that is already established in the community comes with its own regular customers. It will need less advertising than a brand new business, saving money for the new owner.

5. Make sure you have the money to acquire a business. You may need to take out a small business loan to get started. For a very small business, a credit card or personal loan may cover the initial expenses. Just make sure you don't borrow more than you can pay back. Look for a loan or card with the lowest interest rate to fund your business.