Frequently Asked Questions
Inventory, or business listings, are added to the website from 3 sources: business owners, REALTORS (R) and economic development agencies. Listings are consistently updated. Investors can view opportunities from around the province, in most industries and at various price points.
A Venture Connect Business Advisor would be happy to assist you. You can contact us by phone at: 1-855-421-0082 or e-mail us using our secure form.
Contrary to a common thought that business owners are unrealistically high on the price they perceive their business is worth, our experience is showing that most of the time our price determination confirms what business owners are already thinking. When Venture Connect determines a selling price for a client, factors that tend to dampen and heighten the risk to a potential buyer are provided. These factors along with our process helps owners understand how value is perceived and calculated. Venture Connect provides unbiased price determinations which are used by real estate agents and private sellers.
It's human nature to want to test the market to see if there’s a buyer willing to pay top dollar or higher but there are risks to this practice. Like any inventory business listings can become stale, losing potential buyer enquiries, wasting buyer and seller time and providing an opportunity for potentially interested prospects to ask "what’s wrong with the business?"
Selling a business is a challenge and although our service is very successful for many of our users, you may want to try a number of approaches to making a sale.
Transition Plan – Venture Connect will work with you to create an in-depth Transition Plan that will be an integral part of your smooth transition and a buyer’s consideration to purchase. It will help to ensure that your long-time, valued clients are taken care of and that your quality is maintained. A properly followed Venture Connect Transition Plan may also increase the amount you will actually take home when a deal is done. As well, a business that has successfully completed a Transition Plan through Venture Connect may be given an endorsement on our website as a business primed for sale.
Succession Plan - A Succession Plan focuses on the businesses’ human resources. With consideration of your exit, Venture Connect will work with you to create a plan and systematic approach that is aligned with your mission and core values and potentially identify or attract a successor who is on the same page with your company strategy and culture and to support staff through a management transition. A Succession Plan is one component of a Transition Plan.
Exit Essentials – Venture Connect works with business owners to create Offer for Sale sales documents. This multi-page document is an essential tool when used in conjunction with realtors or for business owners choosing the For Sale by Owner route. This document is thorough and contains sensitive and confidential information about a business such as detailed financial information and inventory and equipment lists etc. The document should not be provide to enquirers until a Non-disclosure has been signed.
This is highly recommended and at least one picture is required to place a listing on ventureconnect.ca. Several photos can be uploaded to your listing. Our system accepts JPEG (.jpg) and PNG (.png) files.
- Maintain normal working hours and quality of work.
- Keep the business facilities clean and in good repair.
- Keep all financial records in order and make sure that all personal expenses are not run through the business.
- Remove equipment or furniture that is not part of the sale.
- Be as accommodating as possible when making appointments to meet with buyers.
Research has shown that a seller who asks for a cash sale receives, on average, only 70% of their asking price. Sellers who accept terms receive, on average, 86% of their asking price.
Many sellers are unaware that they can earn considerable interest by financing the sale of their business. If the seller is willing to finance a portion of the business sale, it highlights to the Buyer that the Seller has confidence in his or her business as a valuable and profitable service.
Buyers will connect directly with you using the listing's contact form. Your email address will not be displayed.
You may also include a phone number in your listing's details if you wish to receive calls.
Many business owners choose the For Sale By Owner route. You will need to:
- establish a realistic selling price
- have ready a business summary sales tool such as a fact sheet
- expose your business by placing it on this website
- have the ability to negotiate and close the sale
Venture Connect is able to assist with any or all of these requirements.
The database is generally updated within 1 business day of receiving new information on a listing. At times, there may be a delay due to large volume of new listings or database modifications. If you don't see your listing online within 2 business days, please contact us.
Business For Sale listings are always placed at NO Charge.
If you wish to advertise your business service in our Local Professionals section, the cost is $90 per quarter (3 month) or $300 per year (paid upfront) + GST.
Buying a business is a major lifestyle change, so you’re right to wonder if you’re ready to buy a business. It often requires long hours and a total commitment to all the business' needs and challenges. You can find yourself watching every detail to ensure success. A business purchase also requires a serious financial investment and always deserves comprehensive research.
You also get a lifestyle that can’t be found anywhere else: you can be on your own and make your own decisions.
Ultimately, the decision is up to you. Talking to a Venture Connect Advisor can help you choose the right path.
Absolutely. Call our toll-free number: 1-855-421-0082 and we will be happy to answer any questions you have and walk you through the process.
Venture Connect does not provide financing, but we can help you with compiling and organizing the information for a loan application.
Loans can be obtained from banks, Credit Unions, private lenders, and our affiliates-Community Futures.
It is also possible that the seller may be willing to finance part of the transaction.
Venturematch is a 5 minute quiz to find out what industry your personality is best suited for.
Answer the easy questions, then use the results to find businesses that are of interest to you.
For more information please contact us.
Unfortunately, there is no simple method. Numerous formulas are used to determine business value. Valuation of a business is best accomplished by a professional with experience in that business’s local market.
Remember that business value is ultimately market driven and subject to the motivation of both the buyer and the seller to accept the terms of the agreement.
Obtaining a price determination is valuable for buyers, as explained by one of our client:
“I had worked for 27 years in retail management and wanted to buy a small retail business, but had no idea how to determine fair value for an existing business. The business valuation support and sale mediation services from the Venture Connect Advisor, gave me the knowledge and support needed to confidently proceed with this acquisition.”
The decision to move forward was a win for the seller and the buyer. But it’s also a win for community locals and visitors who can continue to enjoy a retail institution that is part of the town’s charm and vitality.
No. On the Venture Connect website, you never have to pay to view business listings.
There are many potential advantages to investing in an existing business:
- They are more likely to succeed than a new start up.
- They have demonstrated that there is a customer base for the product or service.
- They have a history or reputation.
When seeking financing for a business purchase, the existing cash flow from an established business may improve your chances of success. Some owners may also help supply financing.
Further, many sellers will stay and train a new owner. Finding someone who will teach you the intricacies of running the business will make an integral difference in your success.
That depends on you. Most buyers want to own a profitable, well-managed business in an industry that has some personal interest to them.
Others buyers may look for opportunities that offer a potential flip, where they can apply their previous business experience.
If it fits your life style, and works within your financial constraints, then it is the best business for you to own.
Our listings include all types of "Business for Sale" opportunities
Listings can be posted by business owners, REALTORS(s), business brokers, and other intermediaries such as lawyers and accountants.
The due diligence period is time allotted to you to review all aspects of the business, including available financing, competition, market, client base, and all other issues that should be considered in purchasing a business.
Your accountant and attorney should review the financial and legal aspects of your purchase.
If you have a comment or suggestion on how we can improve our website, please email us. We will respond as soon as possible.