Are You Thinking About Buying An Add-On To Your Business?
Now Is A Great Time!
If your company has a growth mindset, buying a business add-on is one option.
Do you know how to find compatible targets?
Try these strategies:
- Check listings from local brokers often. Lists like BIZBUYSELL or similar options. You can put a search filter with your criteria on some of those databases to receive automatic updates when a listing that fits your criteria is listed. (I would also look every week on my own and not rely on a search engine.)
- Buy a list of local landscape companies that fits your criteria. Choose an industry source like a state or national landscape contractor association. Try to get it focused as near to your criteria as possible.
- Do a Google search for lists and lookup company websites. This takes a lot of time, but it helps you know how your market is presenting itself in the market.
- Review those lists, especially those you typically compete with, and narrow it down. Too big, too residential, too small, etc.
- Put the companies on your list in a CRM (so you can automate the follow-ups and tracking). Build a marketing campaign–reach out to the specific companies you are interested in (phone call, email, etc.) and have a conversation. It’s like any sales job, you should be prepared to “sell” yourself as a buyer compared to any other buyer. I suggest you develop a script with bullet points for your calls, so you have your main points determined and know what to ask for.
- Call your vendors and let them know what you are looking for. Follow up in an email so they have it for reference. Recheck often. Vendors tend to know who is “thinking about” selling.
- Research and even contact certain competitors. Even if they are large, they may want to spin off a part of their operation.
- Advertise in your state’s landscape association newsletter and/or create an advertisement piece to be sent to your association’s members.
Once you find a potential seller, it’s all about the relationship. Good luck!
If you’d like to have a discussion about where to start, please reach out to me at 224-688-8838 or email me at [email protected].
We’re here to help you Harvest Your Potential!
