Blog Layout

OConnor Business Insights

The Simple Way to Buy a Business in Manitoba

Brad O'Connor

Mar 24, 2021

Why make it difficult when there is an easy way?


If you are new to the entrepreneurial world, the idea of starting your own business can seem quite daunting. 

In the majority of cases, buying an existing business poses less of a risk than starting one from scratch. When you buy an existing business, you are benefitting from an established customer base, reputation, and employees who are already familiar with operations and procedures. You would be taking over an operation that is generating cashflow and profits from day one, which also makes it easier to acquire financing. Buying a company in Manitoba is a complicated process, but here are some ways to help simplify your business buying experience!

Selection Process - Make the RIGHT choice 

The first step to more easily buying a business in Manitoba is to find one that is the right fit for you. You might want to start by looking at an industry that you understand, or that you have experience in. Spend some time thinking about the type(s) of business(es) that interest you and best match your skills. Acquiring a business in an industry that is familiar is easier than starting fresh in a new industry, as you can carry over your experience and skills into your new endeavor!

Sources for Available Businesses

A google search reveals that there are different sources for finding available businesses for sale, but in most cases the listings from a local broker like OConnor Business Brokers is your best source. The sellers are motivated to sell and have been vetted by the broker to be a solid opportunity for a buyer. If you are serious about buying, you can save a lot of time and effort selecting from your local business broker listings.


Do your Due Diligence

Once you have found a business to buy, but BEFORE you make the purchase, do your research! Due diligence for purchasing a business in Canada normally includes a thorough review of your target business’s market positioning, legal issues, and financial records. This may seem like an obvious step, however skipping this important part can lead to costly post-purchase surprises down the road. Here is where your business broker can help you. It is vital to have someone with experience in the industry conduct this thorough research of the company’s records. For example, in addition to your business broker you might want to consider also hiring an accountant who specializes in business acquisitions to analyze the financial records, and a lawyer to examine any legal issues that affect the company. You wouldn’t want to buy a house without an inspection, and the same goes for buying a company! A knowledgeable business broker can assemble a team that includes accountants and lawyers experienced with these transactions. 


Hire an Expert

Regardless of whether you are just getting started, or you are a serial entrepreneur, life is busy, and hiring a business broker will ensure that all the details are taken care of and nothing gets missed! Commercial business brokers have years of market experience and provide valuable counsel to help you navigate the complicated world of buying a business in Canada. Business brokers will guide you through every step of the buying and selling process, from pre-screening businesses and navigating financial negotiations, to expert marketing and business valuation. If you want complete peace of mind when buying a company, hiring a commercial business broker is the way to go!


Buying a business can be an exciting and lucrative endeavor, and these tips can help streamline the process. Ready to level up or get started on your entrepreneurial journey? I can help. Contact me today!

More questions?  We can help.

EVALUATION/CONSULTATION


If you are a business owner considering selling a business, and would like to learn more about OConnor Business Brokers and Consultants and the services we offer, please contact us to arrange a confidential business evaluation. 

You will meet one of the Directors of OConnor Business Brokers, and your requirements will be discussed. During the meeting you will have the opportunity to find out more about selling a business, and how our business brokers and M&A Advisors can assist you with the business sale process. 

Unlike many other approaches, OConnor Business Brokers start without any preconceived ideas about what is right for you and for your business. By understanding the business and your motivation we can help steer you in the right direction. This often challenges conventional thinking and comes as a refreshing change to the norm.


The Directors of OConnor Business Brokers have experience as business brokers, business consultants, M&A advisors, and business owners. We understand the challenges and pressures that face a business at any one point. We therefore use our time together not to try and sell you our services but to help you understand your options and how we can help.


An initial meeting lasts approximately one hour, and can take place virtually or in person at our office.



Evaluation and Consultation Request

Unraveling Business Goodwill: The Unseen Asset in Enterprises

By Brad Oconnor • 01 May, 2024
Unraveling Business Goodwill: The Unseen Asset in Enterprises

What is M&A? (Mergers and Acquisitions)

By Brad OConnor • 17 Nov, 2023
Mergers and acquisitions (M&A) represent essential corporate activities that present an opportunity to reshape industries, transform companies, and drive economic growth. Keep reading to learn more about what M&A is, and to gain a better understanding of its concepts, processes, significance, and how a business broker can help.

What is a Business Worth? Approaches to Value (Introductory)

By Brad Oconnor • 06 Oct, 2023
When it comes to assessing the worth of a business, the valuation process can be both intricate and multi-faceted. Understanding the value of a company is crucial for various purposes, such as mergers and acquisitions, investment decisions, or determining a fair selling price. This blog post will outline some common approaches to value, including the benefits of utilizing a business broker, and some of the methods used to determine a business’s actual worth.
three people learning about business brokerages

Debunking the Myths of Business Brokerages

By Brad Oconnor • 11 Aug, 2023
Myth or Fact? Read on to Learn More About Business Brokerages and the Common Myths Associate With Them

Business Assessment: Due Diligence Explained

By Brad O'Connor • 16 Jun, 2023
Due diligence is a crucial part of buying and selling businesses, but what exactly is involved? In this article we’ll take a deep dive into the process, to help get you started. First things first, what exactly is due diligence? Simply put, it is a thorough review of a company’s financial records, legal issues and market positioning before the acquisition takes place. The process typically starts once the buyer has found a business that they’re interested in purchasing, but before any definitive purchase agreements are signed. This extensive research process helps to avoid any unpleasant surprises for either party after the deal is complete.
Man stares at laptop screen contemplating definition of Business Broker

What is a Business Broker, Anyways?

By Brad O'Connor • 27 Jan, 2023
What is a Business Broker? How are they different from a real estate agent? Learn what a Business Broker is, what does, and some crucial differences between their job and a real estate agent, as well as some other information to help you know if you need one to sell or buy a business! (Hint: you do!)
Map of Manitoba, Manitoba Provincial Nominee Program (MPNP)

The Manitoba Provincial Nomination Program (MPNP)

By Brad O'Connnor • 28 Oct, 2022
Are you considering immigrating to Canada, and would like to buy a business? Well, the MPNP program might be what you are looking for! The Manitoba Provincial Nominee Program (MPNP) is the immigration program for the province of Manitoba, and it offers three streams, each with their respective pathways. Keep reading to find out more!

How Important is Cash Flow of a Business to be Purchased?

By Brad OConnor • 08 Feb, 2022
When it comes to business, the old adage that “cash is king” still holds true. If you are considering buying a business, do not make the misstep of paying more attention to its profit statement than its cash flow statement. Otherwise, you might make a mistake that you will soon regret because so-called “profitable businesses” go bankrupt every day. Why you ask? Because they did not have the cash flow needed to sustain their operations. Here is why knowing a business’s cash flow is so important before purchasing it.

Boosting a Business’s Value Via Strategic Acquisitions

By Brad OConnor • 26 Jan, 2022
A Brief Guide Alphabet (Google’s parent company) had a market capitalization of less than $200 billion in 2005. This figure rose to about $274 billion in 2006, just a few months after acquiring mobile software developer Android for $50 million. Today, Android is the most popular mobile operating system, and Alphabet has a market capitalization of about $1.95 trillion. Undoubtedly, Android has been instrumental in Alphabet’s growth. It is also one of the best examples of how a business can boost its value through strategic acquisitions. Here is a brief overview of how any business (including yours) can do the same. How Can a Strategic Acquisition Boost a Business’s Value?

Should Sellers Care About Financial Ratios Before Selling?

By Brad OConnor • 25 Jan, 2022
As a business owner, you work hard to start, establish and grow your business. However, there may be a time when it makes sense to consider selling your business and move on to other business opportunities. It would be best if you made several considerations before enlisting the services of a professional business broker to find a buyer for you. One of the essential aspects you should consider as you put your business up for sale is financial ratios. Financial ratios constitute crucial business data that will factor into the sale of any business.
More Posts
Share by: