Buying Business

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Alwayslearningelec

Senior Member
Location
NJ
Occupation
Estimator
So the owner of my company here in NY is looking to move to South Florida and possibly buy an electrical contracting business.
Sure he's be willing to spend up to a few million dollars.
How would one go about looking for electrical contracting businesses for sale in this area?
 

Coppersmith

Senior Member
Location
Tampa, FL, USA
Occupation
Electrical Contractor
How would one go about looking for electrical contracting businesses for sale in this area?
Business brokers sell businesses just like real estate brokers sell residences. Of course, a commission is being paid so that raises the price a bit. Or he could just look up the local businesses in Dun & Bradstreet to get an idea of their worth and then approach the owners directly and ask if they want to sell. There are owners just looking for an excuse to retire. If It were me, I would just start a new business from scratch. That way you're not paying a markup and not getting a warehouse full of unusable inventory,
 
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Hv&Lv

Senior Member
Location
-
Occupation
Engineer/Technician
$1 million would probably buy one hell of a big electrical contractor.
Sort of what I was thinking.
My understanding was the Mastec guys walked in to businesses they were interested in and simply asked what they would take to sell.
Pike turned them down but many smaller companies took their offers
 
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