Looking to Buy a Small Business in Ireland - Where to Start? (Newbie)

k3s5r5

Hey everyone,

I'm hoping to get some advice from experienced business owners or anyone who's gone through the process of buying a small business. I'm looking to take the plunge and become my own boss, but I'm feeling a bit lost on where to even begin.

Here's a little about my situation:

• I've been living in Ireland for the past 5 years and working a full-time job.
• I've managed to save up a few thousand euros for an emergency fund and have around €20,000 - €30,000 that I'm willing to invest in a business.
• Initially, I was thinking of starting something very small from scratch, like a waffle shop (love waffles!), but I realize I'm not fully clued in on all the setup requirements, regulations, etc., especially as I only moved here 5 years ago. I believe for starting from scratch a lot of funding will be required.
• So, I'm now leaning towards buying an existing small business instead. It seems like it might be a smoother entry point for a newbie like me, plus some of the groundwork will already be done.

My main questions are:

1. Where's the best place to look for small businesses for sale in Ireland? Are there specific websites, brokers, or forums that are particularly good? I've seen sites like BizBuySell, but are there any Irish-specific resources I should be focusing on?
2. What's the process like for buying a business? What are the key steps involved, from initial research to due diligence to finally taking over?
3. What are some common pitfalls to watch out for? Any red flags I should be aware of when evaluating potential businesses?
4. Any other resources to learn more about business?

Any advice, tips, or resources you could share would be greatly appreciated. I'm eager to learn and make this dream a reality, but I want to do it right.

Thanks in advance for your help!

Gloomtastic!

Where are you based?

poker--addict

To my knowledge there is no specific websites and little culture of selling businesses online/very publicly like in some other countries, the result is it leans itself towards word of mouth, networking, and direct approaches. The positive to this is there are many people who pass busineses down families or the business just dies, as people don't realise they could sell a going concern, and don't always see the value you might see.

Gloomtastic!

WTF! You want to buy a small business, start an on-line casino. 😂😂😂😂

user060916

I've always been looking for something similar, a good website / broker that lists small businesses for sale. I'd love to buy a few more ecommerce websites but they're very hard to find. It's just drop shipping scams for sale by the looks of it

Alexander Ozzie

if you still seeking the business opportunity PM me… we can workout together..