6 Ways To Find The Best Buyer For Your Business

Forbes

5 hours ago

What if your ideal buyer is already in your network, but you don't even know it yet?
What if the perfect buyer for your business is already in your network, but you don't even know it yet? And what if waiting to look for business buyers until you're 'ready to sell' means you miss your best opportunity to exit on your terms?
Most business owners wait too long to find the right buyer. Or worse, they don't know what "right" even looks like. And that lack of clarity? It costs them leverage, value, and peace of mind.
This article breaks down six real-world strategies for identifying the best buyers for your business—whether you plan to sell next year or three years from now. These are the same strategies my clients use who want to sell their small business from a position of strength.
Let's first walk through the practical mindset shift that helps you stop waiting for a business buyer and start building a buyer list now.
1. Start Searching For A Buyer Before You're Ready To Exit
The biggest myth in selling your business is that you should wait until you're ready to sell to start finding buyers. In reality, the longer your horizon to exit, the more control you have over who you sell to, how, and for how much.
When you start early searching for business buyers, you're not working under pressure. You're studying your market. You're identifying who's buying businesses like yours. And you're building your buyers list.
The longer you track acquirers in your space, the clearer your ideal buyer profile becomes. Is your perfect buyer a strategic acquirer, looking to add your service to their offering? Are they investors consolidating a niche? Is it a solo entrepreneur looking for a cash-flowing business?
I always advise clients to build their buyer list and revisit is regularly, by researching new deals in their industry. You don't need a business broker to do this. You need curiosity, Google Alerts, and a Google Sheet.
2. Use Multiple Search Strategies To Find Potential Buyers
Many owners ask 'To find a buyer for my business, should I use a broker, a listing platform, or do it myself?' The answer: Use all three. At once.
Here's why: Each approach opens different doors.
A broker may have a trusted buyer network and can manage the negotiation.
A listing platform can offer wide exposure, especially for smaller businesses.
But your own network? That's where the magic happens. Your industry contacts, peer communities, suppliers, or even competitors may have the clearest incentive to buy your business.
When you diversify your approach to find potential buyers for your business, you not only increase your chances of finding the perfect one, you also create competition amongst interested buyers, which increases your leverage.
3. Vet Business Buyers Before You Waste Time
Not all buyer interest is serious interest. There are tire-kickers. There are people who want to "learn more" but aren't qualified or have the money. And then there are the strategic, funded buyers who already know what they want.
Your job is to know the difference early.
The best buyers will have:
Don't be afraid to ask questions:
A real buyer won't be offended. They'll respect your professionalism.
4. Google Is Your Secret Weapon To Find Potential Buyers
You don't need to be very well connected to start identifying real buyers. You just need the right search terms.
Try this: Type your industry + words like 'acquisition,' 'buyout,' or 'merger' into Google News or set up alerts. Over time, you'll spot names that appear repeatedly.
You'll also discover the language that acquirers use when announcing deals. This is gold. Why? Because it shows what buyers value: recurring revenue, owner-independence, customer retention, niche market share.
Then, reverse-engineer that into your business. Use it to shape how you grow. Use it to shape your buyer pitch. Use it to improve your valuation.
Extra Resources:
If you want to take it one step further, subscribe to acquisition-focused newsletters like They Got Acquired. They cover real deals in the 6- and 7-figure range, not just unicorns in Silicon Valley.
5. Don't Overlook Your Personal Network
One of the first questions I ask business owners who want to sell their business: 'Who do you already know that might be interested?'
Almost always, there are names. A supplier who's hinted at expansion. A client who's bought a similar business. A friend of a friend in your industry. These leads are usually warmer, more aligned, and more serious.
You don't need to cold-call your contacts. But do start planting seeds.
Mention your long-term plans in casual conversations. Say you're starting to think about the next phase. Invite input. Watch who leans in.
In one case, a client of mine sold her training business to a former supplier who had quietly admired her systems for years. That deal happened in under 60 days because of the trust and familiarity already in place.
6. Build a Buyer List Like It's An Asset (Because It Is)
The buyer list you build today isn't just a spreadsheet. It's leverage.
When brokers, investors, or partners see that you've already mapped out who might buy your business—and why—they take you more seriously. It shows you're proactive. Strategic. Prepared.
And if you ever do hire a business broker, they'll ask you for that list anyway. Why? Because no one knows your market better than you.
So here's how to start:
Final Thoughts: You Don't Find the Best Business Buyer By Accident
The best exits aren't lucky. They're built by savvy business owners well in advance of the actual sale. If you want to sell your business for what it's worth, to the right person, on the right terms, start thinking about it now.
Study the market. Build your business buyer list. Ask better questions. Combine multiple strategies to find out how's buying. And most importantly, don't wait until you're ready to exit. The work you do now, pays you later. Not just in money, but in peace of mind, clarity, and freedom. And isn't that why you built this business in the first place?