Once you've completed your DealBuilder project - it's time to advertise the sale of your business. Sure, DealBuilder gives you access to over 3,000 vetted Canadian Buyers. But we still encourage users to advertise across multiple listing sites.
The only problem being the high number of business-for-sale sites, making it difficult to know which is the best bang for your buck. To minimize your research time, we've listed the best business-for-sale sites for Canadian businesses below.
But first, here are some sites to avoid
First, let's talk about what sites are ineffective for selling your business. Here are some of the most common free sites business owners use:
- Facebook Marketplace (yes, really)
Since these sites are free, it is tempting to 'test the waters' here first. While this seems like a sound strategy, most owners discover a majority of inquires are either spammers or time wasters. The reason? Well, after you found a cheap used TV on Craiglist, how often have you perused businesses for sale? Exactly. As a result, 99% of 'inquiries' you receive are window shoppers.
Unfortunately, these sites cause many owners to give up on selling their business - but this doesn't need to be the case. Instead, get quality buyer inquiries by advertising with the following industry sites:
Sites you should consider
Below is a sampling of a few of the better sites to use when selling your business in Canada.
- Instead of charging sellers, DealStream charges buyers $40-$139/month for unlimited inquiries. This helps with pre-vetting serious buyers.
- You can categorize your business within a 'DealStream' which is a niche focus by a group of buyers. An example stream is the 'Fashion Industry'
- This feature can help with targeting your business to specific buyers.
- Charging buyers is both a pro and a con. On one hand, the buyers that do inquire should be of a higher quality. On the other, you can expect to receive fewer inquiries (as there are fewer buyers)
- DealStream is mainly dominated by the Oil & Gas and Real Estate industries. Making the buyer pool much smaller for other industries.
- DealStream is free for Sellers
- Primarily the USA
Disclosure: Paratus has partnered with Otonomy to give DealBuilder users 50% off their Otonomy listing.
- Otonomy has a modern design compared to other sites, making it more user-friendly
- Provides a low-cost solution for Canadian businesses with a 30-day free trial
- Otonomy is a new start-up site, so there is less Buyer traffic than its competitors. However, it has been acquiring listings quite rapidly which has bumped buyer traffic.
- The primary focus is British Columbia
- $29.99 - $39.99/month CAD
- Canada (currently focus on British Columbia)
- One of the more established business-for-sale sites with over 1 million buyers
- Buyers are active - with listings generally receiving multiple inquiries
- Has some features to limit 'tire kickers' but expect your listing to still receive many non-serious buyer inquiries.
- More expensive option with no guarantee of results
- $75-$300/month CAD
- Canada, U.K., International
- Low-cost, simple-to-use
- Active in Canada (over 8,000+ listings)
- The user interface could use a refresh
- Lower buyer traffic than competitor sites
- $12-$26/month CAD
- Canada, USA
- Low-cost, simple-to-use
- Largest pool of business buyers (10.7 million monthly visitors)
- Completed over 100,000+ sales
- Owned by the CoStar Group, which gives you extra exposure on its partner sites - BizQuest and LoopNet
- Very comparable to businessesforsale.com - lots of buyers but also lots of tire-kickers on the site
- Again, expensive with no guarantee of results
- Much stronger in the USA vs. Canada
- $75-$162/month CAD
- Primarily the USA with some International exposure
Once you selected the right listing site for your business, make sure you read our article, 'how to write your business-for-sale listing'.