This article are provided for information purposes only, and are not intended as legal advice.


Locating an existing franchise for sale

June 27th, 2009

I received a call the other day from a real estate agent who normally sells houses but had a buyer looking for an existing franchise.  The real estate agent could not believe that it would be difficult to find this type of business for sale.  They did not know where to look.  As I indicated to the agent, there is no central listing service for businesses for sale or franchises for sale.  There are many websites that have listings of franchises for sale such as The Business Place.  Businesses are sold by many different people, business brokers, some who are registered under the Business Brokers Act, brokers registered under the Securities Act, accountants, lawyers and some brokers who are not registered anywhere. 

 

Business brokers, unlike house real estate agents, tend to work by themselves and represent both buyer and seller of the businesses that they sell.  They do not share their listings with other brokers.  Since they do not share their businesses with other brokers, many brokers are reluctant to publish their listings on a website. 

The Business Place is a website to help individuals and brokers.  If you are looking for a business, you should register as an investor and identify the type of franchise or business that you are looking for.  If a person is thinking about selling their business and see your criteria, they may contact you.  That way, they may be able to sell the business quickly.  A business broker may also be looking at the investor listing to see if any of their listings match the criteria of those investors.  If you are a buyer or seller, you have to continually be looking at a variety of ways to find your business or franchise for sale.  if you are not active in your search, it will take considerably longer for you to find.  If you are a business broker, all enquiries go to you therefore you still can sell your business without having to share your commission with other brokers.


Filed under: Franchises — Gary Landa @ 9:00 am


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