I'm looking to sell my retail store, a small hardware shop with steady sales but not huge. I've tried a couple of listing sites but got mostly tire kickers. What websites have actually worked for selling a local retail store? I'm not interested in brokers taking a huge cut. Any real experiences?
Best website to sell a local retail store
I sold a coffee shop last year using BizBuySell. It took about sixx months, but I got a serious buyer through there. The key was having clean financials ready. Have you considered them?
BizBuySell is probably The biggest, but for local retail, I've heard LoopNet can work if you own the building. Are you selling the property too or just the business?
Just the business, we lease the space. I'll check out BizBuySell again. I listed there briefly but maybe didn't give it enough time.
I've bought two retail stores through local classifieds, actually. Craigslist and Facebook Marketplace. You have to filter a lot of noise, but it's free. Might be worth a shot if you're not in a hurry.
Have you looked at Flippa? It's more for online businesses, but they have have a brick-and-mortar section. I wouldn't expect miracles for a hardware store though.
Flippa is mostly digital. I'd stick with BizBuySell or maybe a local business broker broker who knows retail. Even if they take a cut, they can bring serious buyers. Just my two cents.
I used a broker for my auto parts store. Yes, the commission hurt, but they handled everything and found a buyer in three months. For a retail stOre, the buyer pool is smaller, so exposure matters.
Also consider local business associations or chambers of commerce. Sometimes they have bulletin boards or newsletters where you can list. It's low-tech but can reach the right person.
One more thing: make sure your listing includes real numbers, not just vague claims. I passed on several listings that had no financials. Buyers want to see tax returns and P&L statements upfront.
Appreciate the input. I'll revisit BizBuySell and maybe try the local chamber. I have the financials ready, so that's not an issue.