Buy a Business

Buy A Business and Secure Your Financial Future. Let Hoff Business Advisors help you buy a successful business. Many of our buyers are first time buyers having never purchased a business before and they trust our experience and consultation to help them through the process.

We specialize in selling locally owned businesses that have been in operation for more than 5 years including pharmacies, healthcare, manufacturing, restaurants, convenience stores, liquor stores, motels, retail business, service related businesses, dry cleaners, coin laundries, storage facilities, and many more.

Buying a business is rewarding and can be very fun and exciting. We are here to help you all the way through the process.

Main Street Businesses for Sale: VIEW: Our available main street Businesses For Sale Here:

Buying a Business. Finding an established business to purchase.

If you are interested in buying a business, please contact us so we can help walk you through the process and answer any questions you have. Here’s a quick guideline to the steps you should take when starting the process.

  • Identify the types of businesses you have the most interest in operating. Take a drive around your town and ask yourself if you would be happy owning the different types of business you see. These may include businesses that you already have some experience in, personal hobbies, or maybe it’s a business you have always wanted to own.
  • Are you going to be an owner operator or absentee owner? Owner operator businesses are the easiest to find and include most of the local businesses you see when you drive around town. If you cannot work full time at the business and need to be an absentee owner, then it’s probably not a good idea to look at restaurants and convenience stores because they require a lot of time from the owner until you have multiple locations.
  • What city, state, and region do you want to purchase a business in? This most likely will include your home region. Don’t waste your time searching outside of this region unless you are serious about relocating.
  • Determine how much money you need to make. If you are leaving your job, then you’ll probably need to replace your current income.
  • What is the maximum down payment you can afford to come up with? You will need a down payment when you buy the business because there is no such thing as 100% financing when you buy an established business. Down payment requirements will range based on the size of the business. But a general rule of thumb would be to have a down payment equal to the annual income of the business.
  • Contact us so we can help answer any questions you have and so we can show you any available listings that match your interest now or in the future.
  • Confidentially review our businesses for sale and let us know any interest or questions you have on any of them. If the business has a retail or store front, visit the business confidentially as a customer to see if you like the location and operations.
  • Once you find a business you really like, ask us to schedule a meeting with the owner so you can talk with them and learn more about the business. Sellers are usually fine with meeting a potential buyer, as long as the meeting is scheduled through our office and they are not confronted while trying to operate their business. Respect their confidentiality, and they will be very helpful.
  • After the seller meeting, if you like the business, sit down with us and write up an offer to purchase the business. We’ll help you put everything in the offer to protect you so that you can verify the financials, lease, assets, etc as part of your due diligence.
  • Just remember, whether this is your first business purchase, or you’ve purchased multiple businesses, we’ll be there to help you all the way through the process.



Do Buyers Pay Fees? No. If you are viewing a business for sale that is being marketed by our company, then we have an agreement with the seller to pay our commission as part of the transaction.

Do Sellers offer Training? Yes. We require every seller to provide training following the sale. The amount is different for each deal and buyer requirement, but is generally 30 days onsite and 6 months phone consultation.

Is Bank or other financing available? Yes & No.

Yes: If the business deal size is over $200,000, has clean tax records that show a verifiable profit of $50,000 or more, and the buyer has a good credit record, then yes, SBA bank financing may be available, depending on industry.

No: If the deal size is less than $200,000 or has less than $50,000 of verifiable annual income then you will not be able to get bank financing to purchase the business.

Bank Alternatives: Regardless of the transaction size, you may be able to get bank financing if you have a home that you can refinance to pull equity out. This would not be a business loan, but rather a personal loan.

Seller Financing: Many deals involve some form of seller financing. Seller financing is always negotiable and will depend on the seller’s financial position. As a general rule, sellers usually need a down payment equal to one years income from the business or enough to cover the inventory and assets of the business that are being sold.

401K or IRA Rollover Alternatives: If you have a 401K or IRA, you may be able to do a Rollover, which will allow you to access your funds penalty free to be used towards purchasing your own business. There is a fee involved but it’s less than the penalty and you generally have to pull out at least $40,000 for it to make sense.

Alternative Financing: Online peer to peer lenders like Lending Club, are ideal locations to borrow up to $35,000 through a personal loan. These types of loans are great to help with a down payment or working capital when you purchase a business.

Businesses that banks don’t like to lend on: Restaurants, Bars, Liquor Stores, & Convenience Stores are very difficult to get bank financing.

What is a Main Street Business? A main street business is generally defined as any business that has annual revenue less than $5,000,000 and annual income less than $1,000,000.

Most Main Street Businesses include;

  • Accountants & Financial Businesses
  • Bars & Restaurants
  • Convenience Stores
  • Coin Laundry & Dry Cleaning
  • Computers, IT, & Technology
  • Healthcare
  • Liquor Stores
  • Manufacturing
  • Pharmacies
  • Retail Stores
  • Service Businesses
  • Storage Facilities
  • Tanning Salons
  • Wholesale & Distribution

What is a Lower Middle Market Business? A lower middle market business generally has annual revenue between $5,000,000 – $75,000,000 and annual income of above $1,000,000.

Lower Middle Market Businesses generally include;

  • Financial Businesses
  • IT & Technology
  • Manufacturing Industries
  • Retail Businesses with Multiple Locations
  • Wholesale & Distribution


About Hoff Business Advisors:

Hoff Business Advisors sells businesses throughout the US. If you are looking to buy an established business contact us so we can help you through the process. 803-673-0013