Is there a directory where I can find a business to buy? Do you recommend broker companies? Where can I find specific information related to a business I am interested in buying?

There are several sources to refer to when looking for a business to purchase:

• One source is a business broker, who can be found in the yellow pages of your local telephone book. We have a policy prohibiting us from recommending specific business brokers. However, there are usually a number of such brokers in larger communities.
• Corporate lawyers and public accountants deal with corporate clients and are a source of leads for businesses that are either on the market or contemplating a sale.
• Chartered banks may also be a source of leads, since banks want to facilitate the sale of client businesses to retain them as clients.
• There are also websites dedicated to buying and selling businesses. Exercise a great deal of discretion when dealing with business brokerages online.
• Real estate agents sometimes are a source of leads, as they may be selling buildings that house businesses. They may be selling the business as well as the real estate. These businesses tend to be small "mom and pop" businesses.
• Bankruptcy and insolvency trustees could have viable businesses that are in receivership for a variety of reasons, such as bad management. Businesses in receivership can sometimes be purchased at a reasonable price. Look for notices on the business pages of local newspapers.