Decide if you want to be a hands-on operator or a passive owner hiring a general manager.

If the business passes initial screening, you must determine its worth and propose terms.

Sellers will require a signed NDA before sharing sensitive financial or customer data. 3. Valuation and the Letter of Intent (LOI)

Once a target is identified, you must verify basic fit before moving to a formal offer.

Find opportunities through online marketplaces (like BizBuySell or Flippa ), business brokers, or direct outreach to owners. 2. Evaluation and Initial Contact

Before looking at listings, define your "buy-box"—the specific parameters of the company you want to acquire.