Okay, so I decided a while back I wanted a change. Working for others just wasn’t cutting it anymore, you know? I live around Seattle, love the area, and thought, why not try buying a small business here? Seemed like a solid plan, maybe a coffee shop, a small retail spot, something I could really sink my teeth into.
Getting Started – The Big Search
First thing I did, like probably everyone, was hit the internet. Typed in stuff like “businesses for sale seattle,” “seattle small business listings,” you get the idea. Man, was that an eye-opener. Tons of websites popped up, all claiming to have the best listings.
I spent hours, maybe days, just clicking around. Some sites looked decent, others kinda sketchy. Lots of listings felt vague, you know? “Profitable Seattle Business!” with hardly any details. It felt like trying to buy a car sight unseen.
Digging Deeper
So, after wading through the initial flood, I started trying to get more specific. I had a rough budget in mind, nothing crazy, and a few industries I was leaning towards – mainly food service or maybe a niche retail thing. I tried filtering on those big listing websites.
- Filtering helped, but… Many listings still lacked real info. Price? “Inquire.” Revenue? “Available upon request.” It was frustrating.
- Broker sites: Some sites were run by business brokers. These often had a bit more detail, but you usually had to sign up, give your info, sometimes even sign an NDA just to see basic numbers. Felt a bit like jumping through hoops early on.
- Local Classifieds? Yeah, I even checked places like Craigslist. Found a couple of interesting ones, direct from owners, which felt a bit more real sometimes, but also riskier, maybe? Less info verified.
Trying to Connect
Alright, found a few that looked promising on paper, or at least, on the screen. The next step was actually reaching out. This is where it got interesting.
I sent emails, filled out contact forms. Sometimes I’d hear back pretty quick from a broker. Other times? Crickets. Just silence. When I did connect with brokers, it was often a screening process. They wanted to know if I was serious, if I had the money. Fair enough, I guess. They don’t want to waste time.
Getting the real story felt tough. Brokers paint a rosy picture, naturally. Owners selling directly sometimes seemed more upfront, but you still had to take everything with a grain of salt. I quickly learned you gotta ask a LOT of questions and then try to verify everything.
The Reality Check Phase
Looking at financials, trying to understand the leases, the employees, the day-to-day… wow. That’s a whole other level. It’s not just buying a ‘thing’; it’s buying a living, breathing operation with all its problems and potential. I looked seriously at a small cafe once. Seemed great on the surface, but digging in, the lease terms were rough, and some key equipment needed replacing soon. Dodged that one.
Honestly, the whole due diligence part is intense. It made me realize how much I didn’t know. You really need good advisors, like an accountant and maybe a lawyer who knows this stuff, otherwise, you could get burned bad.
Where I’m At Now
So, am I a Seattle business owner yet? Nope. Still looking. The process is slower than I thought. It takes patience, a lot of digging, and you gotta be ready to walk away from deals that don’t feel right.
It’s been a journey, for sure. Learned a ton. Still hopeful I’ll find the right fit here in Seattle, but I’m definitely more cautious and realistic about it now. It’s not as simple as just finding a listing online and signing on the dotted line, that’s for damn sure.
