If you’re thinking about buying a business, Ohio is a state that’s got a lot of great opportunities for your next investment—I might be a bit biased, but I’ve been in this market for over 30 years now (dang, I’m getting old), BUT needless to say I know what I’m talking about.
Even if you’ve narrowed down the location to Ohio, finding the right business for sale takes some strategy. So why don’t I walk you through some of the best ways to go about it?
1. Start with Online Platforms 🖥️
Like everything nowadays, the search begins online. Websites like BizBuySell.com and Axial.net list thousands of businesses, including many in Ohio. You’ll see everything from “salary businesses”—those smaller, owner-run setups that provide steady income—to fully staffed operations that can run without you hovering over them. The variety in choices might be appreciated but on the other end, it’s easy to feel buried under a mountain of choices.
But there’s a catch: the quality of listings varies. Some businesses listed might only generate enough income to support the owner, which could be fine if you’re looking for a “salary business.” Others may be self-sustaining operations with a management team in place, which can be ideal for those who want a more hands-off investment. Sorting through these listings can get overwhelmingly fast, especially if you’re looking for specific criteria.
But here’s the thing: you’ll see a lot of variety in quality. Some listings look great, but the business might just be barely getting by. That’s where having someone to help you pick through the good, the bad, and the in-between can really save you time and headaches.
2. Explore Off-Market Opportunities 🗝️
Now, this is where things get interesting. Some of the best opportunities are “off-market”—businesses that are for sale but not actively advertised. To find these, you’ll need some good old-fashioned networking.
Sometimes, knowing the right people—a local attorney, an accountant, or even reaching out directly to owners—can reveal hidden gems. And don’t forget about looking at competitors or suppliers. It takes a bit of legwork, but you can uncover some pretty solid options this way.
3. Get Clear on What You’re Looking For 🎯
Before diving in, take a step back. What kind of business are you after? Are you looking for a business that provides a steady income? Or are you seeking a growth-oriented platform you can build and eventually sell? Your answers will help narrow down your search significantly.
Then, think about geography. How far are you willing to travel? If you’re in Cleveland, is Columbus doable? How about Dayton or even Pittsburgh? Getting clear on this now will help you avoid wasted time down the line.
4. Seek Expert Advice 🗣️
Here’s a piece of advice that might save you some frustration: don’t try to tackle this alone. I get calls from friends and clients all the time saying, “Jim, what do you think of this listing?” I’m always happy to reach out to the other broker, dig into the details, and find out if it’s a good fit or if there are any red flags.
Buying a business is a big deal, and having someone who knows the ropes can make all the difference. So if you’re serious about this, give me a call. I’ll help you find a business that fits your goals and sets you up for success. I can help you make sure you’re not just buying a business—but buying the right one.
