Buying a business for sale in Maine can represent a great opportunity for investment. Buying an established business usually is much safer financially and more profitable than starting a new business because an existing business already has an established customer base, source of revenue and business operations. An existing business also may own valuable patents or copyrights.

It is often more expensive to buy a business in Maine than to start a new one, although it is generally easier to obtain financing for an existing business. Investors tend to be more comfortable with a business that has a proven performance.

There are three primary actions to perform before you buy a Maine business:

1. Review the tax returns and recent financial statements when considering a business sale. Maine businesses can measure their growth potential with actual experience rather than conjecture.

2. Examine the current profits for small businesses for sale. Maine businesses will have expenditures such as employees’ salaries, utilities and insurance that you must deduct from the sales revenue.

3. Inspect the operations of prospective Maine business opportunities. Businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.

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

Find a Maine business for sale

Many websites offer listings of companies for sale. Maine listings of businesses for sale should show the location, asking price and cash flow, among other details.

I recommend: BusinessBroker.net allows you to select the business location by state, and you may also specify an industry and asking price range in your queries. You can search BusinessMart.com for businesses by state, and you can further refine your search by specifying the type of business you seek.

Locate Maine business brokers to assist you in the purchase process

A Maine business broker can identify businesses that are clearly undesirable and help negotiate a price on the best candidates. A business broker also will help you obtain any licenses and permits that Maine requires.

I recommend: Mathurin and Associates in Portland handles mergers and acquisitions for businesses in northern New England. Another Portland-based broker, MarinaSales.com, specializes in the purchase and sale of marinas in Maine.

Hire a Certified Public Accountant while considering Maine businesses for sale

A CPA will need to review the financial records of any business in which you are interested. Additionally, a CPA can ensure that you file any required legal documents.

I recommend: The Maine Valuation Company in Standish is dedicated to performing business valuations services in Maine. Cumming, Lamont & McNamee has two locations in Maine and is well-qualified to perform business valuation as part of a buy-sell agreement.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Determine the owner's reason for selling before investing in Maine business opportunities. The owner may no longer be interested in running the business or there may be legitimate financial reasons for putting it up for sale. You also will want to review the marketing strategy for the business because many lagging businesses can be revived with proper advertising.