# Buying a small business - how to find them?



## lazing (7 May 2007)

For a long while now I've toyed with the idea of running my own business, but due to a lack of imagination can't come up with an idea I believe in enough.  I know that it's just a matter of picking something (ie not wait forever for that 'killer idea'), but I just can't.  

So I've decided to buy a business that's up and running, and now I'm trying to figure out how to find one.  I've come across various websites that purport to sell businesses ( eg http://www.simple.ie/ ) but can't really see anyone buying a business this way.  I've come to the conclusion that the best way is to:
1. Look at businesses gone into liquidation recently (but how do you find these?)
2. Talk to accountants / solicitors who might have clients on their books who are interested in exiting their business.

I have about €300k to invest, and have a willing friend who'd probably go in for the same amount.

All thoughts / help much appeciated.


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## setemupjoe (7 May 2007)

Heres a good site for businesses for sale www.owenscommercial.ie ALSO I THINK WITH THE CAPITAL YOU HAVE AVAILABLE TO YOU ,YOU SHOULD TALK TO SOME OF THE FRANCHISES AVAILABLE. I think you need to be careful not to overpay for an existing business /lease etc. but there are some good oppertunities . I have a friend who has a dominos franchise and hes very happy with the business model and support, profits etc. smoothie/juice bars in prime locations are a good bet too,big name franchises tend to get offered alot of the prime slots in new developments so less chance of failure.Good Luck !
www.franchise.ie www.franchiseoptions.ie  you can request info on a number of franchises.


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## Fintan (7 May 2007)

lazing said:


> For a long while now I've toyed with the idea of running my own business, but due to a lack of imagination can't come up with an idea I believe in enough.  I know that it's just a matter of picking something (ie not wait forever for that 'killer idea'), but I just can't.



You could try [SIZE=-1]www.*thebusinessshop*.ie/ or maybe invest your money in several small businesses / start-ups etc 

However, if you  "[/SIZE]*can't come up with an idea I believe in enough*", I would caution running out and buying someone elses business. 

Running a small business requires a lot of hard work, so having a knowledge and passion for the area you will be operating in is essential and buying someone elses business will not fix that problem for you. 

Best of luck and let us know how you get on! 

Cheers

Fintan


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## Itchy (9 May 2007)

setemupjoe said:


> Heres a good site for businesses for sale www.owenscommercial.ie


 
Just looking at some of the business' on offer here. The newsagent in the northside SC for example has a CTO of €1.68m and are looking for offers in excess of €180,000. Would this be a viable offer to put in on a business that has a turnover 9 times the vaule of the business?


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## woods (10 May 2007)

You have to base it on the returned profit and not on the turnover. A large turnover does not mean a large profit if the mark up is low or the costs are high.


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## Guest118 (10 May 2007)

Why dont you try the Enterprise Boards "Idea generation" course its only aobut €20 or something

www.dlrceb.ie


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## Blinder (10 May 2007)

Itchy said:


> Just looking at some of the business' on offer here. The newsagent in the northside SC for example has a CTO of €1.68m and are looking for offers in excess of €180,000. Would this be a viable offer to put in on a business that has a turnover 9 times the vaule of the business?



There is only 2.5 years left on the leasehold. Wouldn't this have a bearing on it too?


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## lazing (11 May 2007)

Thanks for your comments.  Will take a look at franchise route, and checkout sites with businesses for sale.


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## rabbit (12 May 2007)

I would be careful with the franchise route if I were you.   I know a lot of people who have lost money and time and energy that way.  There are some good franchises I am sure but there are also a lot of very dodgy ones.


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## Bob_tg (9 Jul 2007)

Per the BBC series, Dragon's Den, divide the asking price by 2, and then by 2 again (or divide by 4!!).  Sellers always overvalue... just a thought !


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## Bob_tg (9 Jul 2007)

PS - check the back of the Sunday Business Post for lots of ads.


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## Purple (10 Jul 2007)

If you have a financial or business background you could look at getting involved in the Business Angels scheme that the County Enterprise Boards and Enterprise Ireland run.
You could also look [broken link removed]


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## Dilly Ducked (10 Jul 2007)

www.businessangels.ie


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## stessed11 (12 Jul 2007)

You can have mine for a fiver.


Disclaimer: You wouldn't want it. 
Sorry Mods.


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## z103 (12 Jul 2007)

^^^ lol! - as least you've still got a sense of humour about it!


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## lazing (23 Jul 2007)

So based on the valuation calculation by Bob_tg and Dragon's Den you're looking for 1.25 (ie 5 / 4)...


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## Bob_tg (23 Jul 2007)

He's looking for 5, but will settle for 1.25 !!!


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## BetterBiz (24 Jul 2007)

Have a look at [broken link removed]


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## Alchemy (17 Oct 2007)

You should take a look at [broken link removed] it has many  different Irish franchises and international franchise opportunities targeting  the Irish market, it also has a franchise advice section and one to one free  advice from franchising experts to help you. You should always seek advice  before entering any agreement with any company.


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## jeepers5 (19 Oct 2007)

you could try [broken link removed]


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## thunder99 (20 Oct 2007)

I attended one of those Fas, start your own courses a couple of years ago and found it a big help.

I think the main thing for you is to sit down and think about what you want from a business. Do you want the money, the challenge or oppertunity to be your own boss?

Running your own business can be a lot of fun (and a lot of hard work), but you need to think it through and have a clear exit plan.

If I had 300k to invest, I think I'd rather invest it in a couple of small start-ups instead of starting from scratch with my own business.


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