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Buying and Selling a Small Business: Finding Buyers & Sellers

A guide for entrepreneurs interested in the buying of an existing business or the selling of their own business.

The Right Buyer (or Seller)

Finding the right fit for a buyer may be the toughest task in selling a business, after letting your business go. The entrepreneur might find owners among these different entities:

  • Partners
  • Family
  • Competitors
  • Employees
  • Public offerings (IPO)
  • Companies diversifying
  • Private equity

The entrepreneur should determine what values they hold for their company as they leave and what their position will be within the new entity. Maybe they want the highest dollar amount for the sale and put the work in for that. But maybe they want a judicious amount but be able to walk away knowing the business is in good stewardship and their legacy will continue.

Researching Other Companies

Employee Ownership Options

Entrepreneurs find that selling to employees can be rewarding and potentially complicated.

There are multiple forms that selling a business to employees might take.

  • Employee Stock Ownership Plan (ESOP)
  • Selling Direct
  • Worker Co-op
  • Employee Ownership Trust (EOT)

They all have advantages and disadvantages depending on the needs and the size (value) of a company and employee pool. You can read more about it from the National Center for Employee Ownership

Brokers

You may want to seek out a broker or a marketplace to try and sell your business and find a buyer. The following database(s) can help you filter and find one to hire.

Try the NAICS 56149901 (Business Brokers).