Purchasing an established business or franchise by searching for businesses for sale by industry can minimize the inherent risks associated with becoming a business owner. Gaining an understanding of a business's historical performance, operations, fiscal soundness, competition and future potential are all essential before undertaking such a large investment. Obtaining these figures is much simpler when considering an existing business.

Thousands of small business sales occur every year. Perhaps the biggest hurdle to overcome is finding the right business in an industry that interests you and compliments your skill-set. Identifying businesses for sale by industry can assist you in your search. Consider the following steps to help you during the buying process:

1. Identify the businesses for sale by industry in your area.

2. Determine how much it will cost to purchase an established business or franchise.

3. Hire a business broker to represent your interests and get you the best deal possible.

Action Steps
The best contacts and resources to help you get it done

Identify the businesses for sale by industry in your area

Their are literally thousands of businesses and franchises available for sale every day. By searching for businesses for sale by industry you can begin to narrow the scope of your search and identify established businesses for sale that interest you.

I recommend: Dynamis Online Media Group's website, BusinessesforSale, brings together buyers and sellers. You can search by industry or state. Businesses for Sale US allows you to search by keyword as well as by industry and/or location.

Calculate the costs of investing in businesses for sale by industry

It is important to know the costs associated with purchasing and maintaining an established business or franchise. It's also critical to figure out how much you are willing to spend or borrow. Websites that include sales and investment figures of the various businesses for sale by industry can help with your calculations.

I recommend: Franchise Business Review allows you to gain some additional insight into particular franchises. You can search by investment amount or alphabetically. Franchise Solutions allows you to select a general industry and then a more detailed industry from there. Each entry will tell you what your cash outlay and cash investment will be.

Find a business broker to get you the best deal on businesses for sale by industry

Hiring a professional business broker to lead you through the complicated process of buying a business can ultimately offer you peace of mind. These brokers are obligated to ensure your interests are protected and your investment well directed.

I recommend: VR Business Brokers details their step-by-step process for identifying and ultimately purchasing a business for sale on your behalf. Business Broker includes broker listings by state.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Before completing your search for businesses for sale by industry, consider reading a book or two about buying an established business or franchise. Many authors have tackled the subject and advice abounds which could ultimately help you avoid potential pitfalls.