How Long Does it Take to Buy a Business? business broker smb buying a business

[@mbb3957]

There is incredible value in this channel. Thank you for all of your hard work, David.

[@DavidCBarnett]

I appreciate that Clayton, thanks.

[@Tim_Krause]

Lot's of deals done off market! Currently I'm pending to buy a book of business with no one involved except the lawyer. IMO to find a deal it's not a matter of time, but a matter of results. Looking for 18 months and only talking to a few sellers is not great. You need to talk to a lot of sellers! When I was in the flipping land business it was normal for 2,000 letters per deal. We would talk to 20 people from those letters and only buy one.

[@DavidCBarnett]

Yes, you're right. The searchers who I work with that are successful are networking with a lot of owners as fast as they can.

[@victor7530]

Thanks David. A good combination of detailed advice and good old common sense. I did your business buyer advantage course and it helped me to understand what kind of businesses to avoid because they wouldn't suit me personally.

[@DavidCBarnett]

Thanks Victor.

[@Victoria-d3m3b]

Very valuable info. Sticking to one industry is very helpful.

[@DavidCBarnett]

Absolutely!

[@seanlee2278]

Thanks for the great video! I have one question: I found this business that I want to buy on a website. Am I allowed to reach out to the owner directly if I can? Or if I go on a broker route, how can I ensure that the broker is really qualified and will do the right thing for a good deal? I’m in Canada by the way.

[@DavidCBarnett]

This is a great questiion for a video. I'm adding it to the list. You should inquire via the method advertised on the website.

[@Wealthbuildingcoach]

Great content!

[@DavidCBarnett]

Thanks GWB.

[@ATMtwiz]

How do you decide what business is right for you?

[@DavidCBarnett]

Great question. We'll add this to the list.

[@ericcurrence8477]

Thanks Dave.

[@DavidCBarnett]

Thanks for sending in the question Eric. I think it's something that every searcher wonders at some point.

[@Pernection]

Do buyer brokers charge a commission?

[@DavidCBarnett]

In my experience, if a broker is helping a buyer then they want to be compensated for their time. IE a search fee and maybe have expenses reimbursed on an on-going basis AND THEN when you buy, some small success fee. I've never heard of a buy-side broker working entirely on a commission. 9/10 searchers don't become buyers.