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Tons of Business Opportunities
After making the decision that you want to buy a business, what’s your next step?  There are literally thousands of small business opportunities out there for the prospective entrepreneur, and choosing the right one is probably the most important business decision you will ever make.  Just look at some of the possibilities: home-based businesses, Internet businesses, franchise businesses, existing small businesses – and that’s only the tip of the iceberg.  Once you have settled on the type of business, you must next choose an industry and then decide whether you wish to sell a product or a service, retail versus wholesale, and so on.  It’s enough to make your head spin.

Rely on the Experts – Avoid the Scams
For every legitimate small business opportunity for sale, there are at least an equal number of illegitimate ones.  Some people contend, “95 percent of all get-rich-quick opportunities are scams.”  While that may be an extreme view, one should never consider putting money into any sort of venture without first doing a great deal of research.  There are always people willing to separate us from our hard-earned cash – the old saying, “If it’s too good to be true, it probably is,” is especially valid when looking for a small business opportunity.  When in doubt, call in the experts.  The Internet can be a terrific source of information when it comes to sorting out the winners from the losers in business opportunities.  A great place to start is by checking out business review Web sites.

Not Just One Person’s Opinion …
Sam’s Dry Cleaner’s is for sale down the street.  You’re looking for a small business to buy, so you decide it’s worth your time to consider that one.  You could interview some of his customers and find out why they use Sam instead of some other establishment.  You might call up several of Sam’s suppliers and see what sort of a reputation he has in the industry.  Does he pay his bills on time, for example?  In other words, you build a review profile and use that base of information to help make a buying decision.  The more people you interview, the clearer picture you get on the viability of Sam’s company.  The same sort of research should be done on any business opportunities you wish to consider.  Business review sites offer all sorts of advice, but picking the right one can be just as dicey as making that buying decision.

Tips on Finding the Optimal Business Opportunity Review Site
Most Internet review sites charge a fee in order to gain access to their data.  This makes sense, since collecting that kind of information involves a lot of work.  If you plan to spend tens of thousands of dollars to buy a business, a few hundred dollars wagered against that to receive expert advice is worth the price of admission.  Here are some things to look for:

• Specialization – Assuming you already know what sort of business you want to run, look for a review site that concentrates on that sector.  Unless you have no idea which way to turn, a non-specialized site will be too general in scope to do you much good.
• Number of reviews – While “more” is not always “better,” a site that reviews a few thousand business opportunities is preferable to one that only looks at a few hundred.
• Expert opinions – You want to read a business review that has been written by a person familiar with that company – perhaps an industry leader, a former employee, or a past owner.  Reviews written by the general public have some merit, to be sure, but one should not base a buying decision on that alone.
• Message forums – This element is a chance to exchange questions, concerns and thoughts with fellow entrepreneurs and prospective small business owners.
• Professional advice – Many review sites provide access to experts who can advise you on the best type of corporation to establish, how to set up a credit card payment system, what kind of accounting software to buy, and so on.
• Classified ads – In some cases, you will be able to buy a business directly from the purveyors of the review site.  While caution should always be exercised, having another outlet to consider is never a bad idea.
• E-mail blasts – Rather than constantly checking for updated reviews or recently added elements, some sites send out regular e-mail alerts that provide a brief description of their most recently posted material.

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