Business brokers and websites present new opportunities for bringing buyers and sellers together.
CNNMoney:
‘As an entrepreneur, I always figure I can do everything myself,’ says Robert Smith (photo), recounting his failed attempt to sell his public relations business. ‘Next time I’ll turn it over to professionals and let them do their thing.’
Smith, 32, runs a PR firm in Loves Park, Ill., with 6 employees and some $500,000 in annual revenues. A few months ago he put out feelers to a handful of colleagues in his industry. He also approached a few larger firms, such as Hill & Knowlton. But no offers materialized. Now he’s decided to build up his business before putting it back on the block.
This time he plans to explore several options: internet sites, business brokers, and boutique investment banks. Scores of sites promise to make online deal connections. New ones seem to pop up almost weekly, and many are just plain sketchy. ‘Seller, beware,’ says Kevin Mulvaney, a professor at Babson College. ‘It’s possible to drum up great leads on the Internet. But there’s also a lot of junk out there.’
Each year Mulvaney has his students evaluate these sites. The hands-down winner: BizBuySell.com, based in San Francisco. They also like BizQuest.com and Businessforsale.com.
BizBuySell has the advantage of reach - it gets more than 20,000 hits a day. A business can advertise on the site for $55 a month, and for $100 a month the announcement is e-mailed to prospects. Potential buyers can search the site’s 38,000 listings by size, geography, and type of business. More.
Subscribe 
