Once you've decided to become a business owner, it's safe to say you've made the first of many important decisions. If you've already begun your search you might have uncovered the fact that there are A LOT of businesses available for purchase in Minnesota. Below, I'll share some strategies for narrowing the field.
Don't let the sheer number of available businesses intimidate or dissuade you. Instead, use the following strategies to navigate your way from employee to entrepreneur.
There are entire websites dedicated to listing businesses for sale. With these sites, you can narrow your search by location (sometimes on a state by state basis, sometimes more specific regions), and you can narrow by type of industry. Some popular sites include:
Current owners give a lot of effort and attention to their businesses, and to be honest, it can be nice to have an interested person to talk to. Even if they don't want to sell, they can provide insights into the industry and they might know someone in their network who is looking to sell.
If you're looking for a search method that's a little less of a headache and geared more toward your specific needs and preferences, working with a business advisor might be the right option. When you work with a business advisor, they get to know your needs and preferences, and then they do the searching for you.
There's a lot less legwork on your side when you work with an advisor, and they can help you find businesses that might be filtered out of online search queries. For instance, perhaps the industry you're most interested in has remarkable similarities to another one you had never considered. Working with a business advisor can help you locate businesses for sale in Minnesota that fit you.