Are you looking to purchase a small business in Canada?
There are many online resources available to make the process of purchasing a small business easy and stress-free.
In this article, we will introduce you to some of the best websites to confidently buy small businesses in Canada.
From reliable marketplaces to specialised brokers, these sites offer all the information and support you need when it comes to buying a small business in Canada.
Biz Buy Sell
Founded in 1996 and now a CoStar Group, Inc. (NASDAQ – CSGP) division, BizBuySell is the premier online platform for buying and selling businesses.
With over 3 million visits from present and future business owners, and more than 900,000 registered buyers, BizBuySell is the internet’s largest and most popular business-for-sale marketplace.
Each year, 65,000 businesses are listed for sale on the platform, making BizBuySell the online home to the largest inventory of businesses for sale.
The marketplace includes established businesses, asset sales, franchise opportunities, and business real estate.
Also, CoStar Group Inc. operates other marketplaces in the areas of businesses for sale, asset sales, franchise opportunities, and business real estate.
Related: 17 Easy Online Business Opportunities For Canadians
With more than 60,572 businesses for sale, BusinessesForSale.com is a leading global marketplace.
It has become the go-to platform for buying or selling a business.
Since its inception in 1996, the website has provided business owners and their representatives with a cost-effective means to reach their target market.
For entrepreneurs and business buyers, it serves as a one-stop-shop for all their business needs.
The website has an impressive database of businesses for sale in 27 countries worldwide. This makes it one of the largest repositories for businesses of all categories and price ranges.
Each listing provides essential information such as the seller’s asking price and cash flow. Users are required to register in order to access this wealth of information.
Sun Belt Network or Sun Belt Canada
With over 30 branches scattered throughout Canada, Sunbelt Canada boasts the country’s highest count of certified professional brokers.
They are connected to a global network of over 250 authorized offices and 1,400 brokers who work together to facilitate the annual sale of approximately 3,000 small to medium-sized enterprises.
Sunbelt Canada’s extensive coverage and expertise in the industry present a valuable opportunity for anyone who requires the services of a business broker.
Flippa is a worldwide digital marketplace where individuals can purchase and sell online enterprises, mobile applications, and virtual assets.
You can peruse handpicked searches, for instance, drop-ship vendors, businesses that are resistant to recession, and companies that make more than $100,000 in yearly revenue.
Flippa also provides a comprehensive due diligence service as well as an opportunity to reach out to third-party brokers and financing providers.
Get an estimate of your company’s value by utilizing the free valuation tool.
Empire Flippers functions as an online marketplace that facilitates the buying and selling of web-based businesses.
The platform has a strict vetting process that scrutinizes all sellers’ earnings and traffic history.
In order to qualify as a seller, one must have a minimum monthly profit of $1,000 and a revenue record spanning a year.
Presently, Empire Flippers has a listing of 172 businesses for sale, ranging in price from $50,000 to $3.3 million.
On February 14, 2014, Buyandsellabusiness.com was launched to create technology that connects business sellers and buyers.
They have developed an online marketplace for buying, selling, and growing businesses or franchises daily in the micro-market, which consists of businesses or franchises with a valuation of under $5m.
Bizquest.com, established in 1994, is the first business-for-sale website.
Their mission is to connect business brokers and individual sellers with potential buyers, and they have facilitated the sales of hundreds of thousands of businesses.
They have a wide range of businesses advertised for sale, an extensive directory of business brokers, and a leading franchise opportunities directory.
Businessmart.com has a repository of businesses listed for sale in the UK, USA, and Canada, with various categories available.
They also have a database featuring small and large business opportunities, such as franchises, restaurants, car washes, and laundromats.
Exit Adviser provides small business owners with a complete FSBO (For Sale by Owner) solution to plan, prepare, and execute the sale of their company.
The platform offers a comprehensive collection of online selling tools, sales documents, and support services that guide owners through a series of steps to make the sale process more efficient.
Business Finder Canada
Business Finder Canada is a licensed Commercial Real Estate Brokerage with agents trained and certified as Business Brokers by Business Finders Canada.
With over 1000+ successful transactions of experience in Commercial Real Estate and Business Brokering, they bring a wealth of knowledge to buyers and sellers alike.
Digital Exits is an online platform that helps people buy and sell internet businesses that generate up to $10 million in yearly profits.
When assessing a business’s value, Digital Exits considers factors like net profit, growth trends, website traffic, age, link profile, business model, niche, and competitors.
The website currently has 16 businesses for sale, with asking prices ranging from $450,000 to $5.3 million.
If you want to know the value of your business, submit it for valuation and receive the results within 48 hours.
BizBroker24 specializes in selling websites and internet businesses with valuations between $150,000 and $20 million.
If you’re a buyer, BizBroker24 can help you with all aspects of the transaction, providing educational resources on financing, due diligence, valuation, market trends, and more.
If you’re selling, BizBroker24 can determine your business’s value, create a marketing plan to attract qualified buyers, and negotiate on your behalf to get you the best price and terms.
Additionally, BizBroker24 can purchase a business up to $2 million in cash for quick liquidity.
Latona’s is a boutique mergers-and-acquisitions broker that specializes in cash-flow-positive digital assets, such as websites, ecommerce (including Amazon and Shopify), membership, lead generation, SaaS, and domain portfolios.
Originally, Latona’s was a premium domain broker but shifted its focus to web companies in 2008, concentrating on properties that generate at least $20,000 in annual profit and have been trading positively for one year.
Related: 9 Expert Tips For Starting An eCommerce Business In Canada
What should you look for when buying a small business?
Before making any purchase, you should thoroughly research the company’s financial history, including its revenue and expenses.
This information will help you understand how profitable the business has been in recent years and what you can expect in terms of future earnings.
When reviewing a company’s financial statements, pay attention to any significant changes or irregularities that could indicate potential issues.
Look for revenue growth or decline trends over time and changes in operating costs or profit margins. It’s also crucial to assess whether the business has sufficient cash flow to cover its debts and ongoing expenses.
A good reputation can help attract new customers and retain existing ones, while a bad one can damage the business’s profitability and future growth potential.
Before making any purchase, it is imperative to conduct thorough research on the company’s reputation by checking online reviews, customer feedback, social media presence, and other related information.
One of the best ways to ensure that you’re investing in a reputable small business is by purchasing from established and well-known websites such as Bizbuysell.com or Businessesforsale.com.
These platforms have built their reputations over time by providing high-quality services that match buyers with sellers while ensuring transparency.
When considering buying from lesser-known websites or private sellers, it’s essential to be cautious and do your due diligence.
Don’t hesitate to ask for references or speak with current customers before purchasing.
Remember that an excellent existing reputation can be leveraged for future success but only if upheld through consistent quality service delivery.
This includes analyzing its financial statements, understanding its customer base and market position, evaluating the quality of its products or services, and assessing the effectiveness of its management team.
By thoroughly examining these factors, potential buyers can decide whether a small business is worth investing in.
In addition to analyzing current operations, buyers should also consider the potential for growth and expansion of the business.
The best websites to buy small businesses in Canada recognize this and offer resources and information to help buyers assess future potential.
These websites do this by providing detailed financial information on the business.
This includes past revenue, expenses, and profit margins as well as projections for future growth. Some websites may offer industry-specific insights on market trends and potential expansion opportunities.
Another factor that can indicate a business’s future potential is its online presence. The best small business buying websites in Canada will often feature businesses with strong online branding and marketing strategies.
A robust social media presence or an established e-commerce platform may suggest that the business has room for growth in digital channels.