Finding the Right Business

According to industry statistics, over 90% of the people who begin the search to buy a business spend most of their time looking at businesses that do not meet their criteria. Over 40% buy a business that they are ultimately unhappy with.

So how do you find the business that is right for you? And more importantly, how do you insure that you are not wasting your time during the search process?

The CII Process

Finding a business to purchase should be the final step in a process that begins with an evaluation of your skills and interests and a sound financial assessment. Prior to buying a business, your CII Business Intermediary will determine your budget and what types of business you are qualified to run and would enjoy owning.

It is helpful to look for a business that has some connection to types of work you've done in the past, or perhaps skills you've developed through a job or hobby. It's almost always a mistake to buy a business you know little about. Your lack of knowledge about the industry may create a steep learning curve that may hinder your ability to turn a profit with your new business.

It is also import to choose a business that you're excited by. It's easier to succeed in business when you enjoy the work you're doing.

Sample Buyer Profile Questions

The following are a few sample questions that are contained in a BUYER PROFILE. Your CII Intermediary will use your answers to match you to the right business.

• Why do you want to own a business?
• What types of businesses are you most interest in owning? Why?
• What skills will you bring to the business?
• Do you want to be a hands-on or absentee owner?
• What type of work schedule would you prefer?
• How far from your home would you be willing to travel to your business?
• How much do you expect to earn from your business?
• How do you plan on financing the purchase?
• What are your strengths and weaknesses?

It's highly recommended that you enlist the aid of a Professional Business Intermediary during your search process. A CII Business Intermediary can provide you with access to businesses for sale that you will not find on your own. At CII, we have access to thousands of available business that are not advertised publicly as being for sale.

CII tailors our business search to each Buyer's unique criteria of industry, revenue range, cash flow, location, management capabilities and other parameters. Before presenting opportunities to our Buyers, we investigate them through an initial valuation and due diligence process to ensure the quality of the opportunity and a match against the established criteria. CII serves a valuable role to Buyers who are aggravated by the time wasted reviewing business opportunities not suited to their needs.