A Wyoming business sale 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 for sale in Wyoming 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 buying Wyoming businesses for sale:

1. Review the tax returns and financial statements over the last few years for the business for sale. Wyoming businesses can measure their growth potential with actual experience rather than conjecture.

2. Examine the current profits for the small businesses for sale. Wyoming 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 business opportunities. Wyoming businesses may have obsolete inventory, dissatisfied employees or outdated distribution methods.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 WY business for sale

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

I recommend: The advanced search option at BizQuest.com will let you select the type of business, city and length of time on the listing, among other parameters. 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 Wyoming business brokers to assist you in the purchase process

A 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 Wyoming requires.

I recommend: Cornerstone Business Brokerage in Saratoga brokers businesses valued from $100,000 to $7.5 million. AF Bronson & Associates is certified to broker businesses in southern Wyoming and northern Colorado.

Hire a Certified Public Accountant before you buy a business in Wyoming

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: Porter, Muirhead, Cornia & Howard is in Casper and has a diversified practice that includes business valuations. McKee, Marburger & Fagnant in Lander performs business valuations for a variety of purposes, including acquisitions.

Tips & Tactics

Helpful advice for making the most of this Guide

• •  Determine the owner's reason for selling before buying a Wyoming business for sale. 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 will also want to review the marketing strategy for the business because many lagging businesses can be revived with proper advertising.
• •  Review the physical assets of the Wyoming business for sale. You will need to know if the office equipment, machinery and other property is actually in working order. You will also want to inspect the building itself to know if it meets the health and safety standards that Wyoming requires.