Many people are under the false impression that becoming an entrepreneur means you need to have creative ideas of your own before starting your entrepreneurial journey. However, there is another, more convenient option for those overwhelmed by a blank slate. If you are confident that you can run and improve a small business that is already established, then there is no need to create a concept from scratch. Your opportunity: Find a business for sale.
Here are places you, as an entrepreneur, can look for a potential business to buy.
Take a Look at Online Business Listings
Businesses rely on the Internet and new media because potential buyers start their search when they are looking for a business online. Websites like BizBuySell South Africa, BusinessesForSale.com, and SA Business Brokers list many businesses for sale. These sites usually include detailed information, such as descriptions, financial details, and contact information for more questions.
Turn to Business Brokers to Find Businesses for Sale
A business broker is a professional who assists buyers and sellers in navigating the complex process of buying or selling a business. Companies such as Transworld Business Advisors and Hilton Smythe offer tailored services to individual clients. They provide valuable insights about businesses and offer contact details that may not be readily available online.
Industry-Specific Directories List Businesses
Industry directories can be highly effective for finding business-for-sale listings. Local and industry-specific websites and publications, including newspapers, often feature such listings. For instance, if you’re interested in the hospitality industry, you might find information about hotel sales on Hotel News Now or restaurant sales on Restaurant Business.
Find Options in Local Newspapers and Magazines
Some of these sources, such as local newspapers and business magazines, may seem old-school, but they are highly effective. Newspapers like Business Day now include classifieds or special sections focused on the sale of companies. These can be especially helpful for identifying businesses within the traders’ immediate environment that may not be listed online.
Networking and Industry Events are a Good Idea
Business discovery continues to be achieved through networking today. The target market for this business includes individuals involved in the industry, events such as trade fairs, and local business networking meetings. Establishing contacts with key industry players and business professionals may lead to actual and potential business opportunities, as well as information on businesses for sale.
Real Estate Agents
Some real estate agents specialising in commercial properties can assist in finding businesses for sale. These agents have access to business owners looking to sell and may offer listings that are not widely publicised. Companies such as Prop Data and JLL South Africa have experience in this area.
Franchise Opportunities is a Good Start
If you prefer to start your business as a branch of a well-known company, one option is to pursue a franchise. You can find franchise opportunities through sources such as Franchise Direct South Africa and The Franchise Association of South Africa (FASA), which offer lists of available franchises. This approach provides the advantage of leveraging an established brand that has already been tested in the market.
Find a Business for Sale on Online Marketplaces
Businesses for sale are often advertised in general online marketplaces such as Gumtree South Africa. Such sites may provide certain potential in this aspect, albeit the fact that the majority of them involve enhanced research to determine the genuineness of the ads posted on the site.
Social Media and Forums Also Offer Insight
Business-related social media platforms and business discussion forums are also useful. Free classified ads websites, chat rooms, LinkedIn groups, business Facebook pages, and others like Reddit have these discussions and posts about businesses for sale. Participating in these communities can present leads and ideas from other business people.
Leveraging Local Business Chambers of Commerce to Find Businesses That Are Sold
Businesses may be advertised in local newspapers or newsletters or local chapters of organisations like the Chamber of Commerce and Industry, e.g., the Johannesburg Chamber of Commerce and Industry or the Cape Chamber of Commerce. Often they have contacts and can introduce you to sellers or brokers in your locality.
Expanding your sources can greatly enhance your chances of finding a business for sale in South Africa. Whether you search for the listings available over the Internet, interact with the brokers, or rely on the networks available in the local area, the right approach will take you to the discovery of the ultimate opportunity. It is therefore important to do one’s homework as well as seek professional assistance to make the right decision and be able to note some success in this aspect of acquisitions.
