If you are looking for businesses for sale in Calgary, you should first learn a couple of things about the business developments in this city. Calgary is the flourishing city of the Alberta province. It’s considered a cosmopolitan city with a great economic strategy that features numerous skyscrapers and is home to many businesses.
Being at the center of Canada’s oil industry has its perks. Thanks to good finances, both small and medium-sized businesses in Calgary are thriving. With such a dynamic market, it can prove quite hard to place your finger on a particular business to invest in Calgary. It has to align with your expectations and plans for the future. The great news is that you’ll find many great investment opportunities here.
The only downside comes from the same fact. Having access to so many opportunities makes it hard to finalize your decision. Don’t worry, that’s why we have started FindBusinesses4Sale in the first place. We can help you make an informed decision. Here’s everything you need to know before you become an owner of a business establishment in Calgary.
How to Find a Good Business for Sale in Calgary
Every “finding a good business for sale in Calgary” journey starts in the same way. You need to get access to as many business listings as possible, but in a city, as developed as Calgary, that won’t be straightforward. At least not if you do it the old-fashioned way.
There are several listing and ad platforms. Going through all of them while keeping tabs on interesting options can be time-consuming and often borderline impossible.
Here at FindBusinesses4Sale, we offer a simple solution to this problem – we have a database of business listings in Calgary. Thanks to our listing platform, you can use only one resource when looking for good investment opportunities. You can also use it to research the opportunities you deem worth your while.
FindBusinesses4Sale database is updated in real-time, and we make sure that every entry is accurate. We even went one step further. Yes, you’ll find all the details regarding the businesses in our listings, but you will also be able to take a look at the most recent photos of the establishment.
We figured out that even with all this information in your hands, people often can’t finalize this decision. The reasons? There’s one reason in particular – they often don’t know exactly what they are looking for.
Before you start going through our businesses for sale in Calgary listing, you need to know what you are looking for. What type of business are you looking for? Do you want your business to be located in a specific city area? What are your ideal customers? Where do they live?
Your search on FindBusinesses4Sale will become significantly easier when you know the answers to these questions. You can quickly identify viable investment opportunities – the ones that reflect your business idea, goals, and plans.
Franchises or Independent Business
One of the most important decisions that you should make before you start your search is whether you want to get into a Franchise or invest in an independent business. Each one of these options offers unique benefits and comes with specific concerns.
Independent businesses for sale in Calgary are a great investment opportunity for savvy entrepreneurs. If you know what you are doing, you’ll probably favour the freedom to make your own business decisions. You’ll have an opportunity to create your own business strategy and plan and execute your detailed business plan.
You can also come up with your own hiring strategy and keep human resources tight. That’s a perfect investment opportunity if you have experience and don’t want to have anyone to answer to. Don’t forget that you’ll have a great responsibility if you choose this path, and that includes being responsible for your establishment and staff.
There are plenty of independent businesses in Calgary you can take over. Many of these businesses are profitable. With your knowledge and a few tweaks, you can turn them into even more profitable organizations. There are also more affordable opportunities. If you know how to turn a failing business into a successful one, you should definitely invest in these companies as they are quite affordable.
Franchises are a far better option if you are less experienced in the world of business. These companies work on a proven business model outlined by the central company. They are a better option as you don’t have to worry about handling the organizational side of the business.
Everything ranging from the standards at the workplace and workflow to best management practices and hiring policy is already defined. All that’s left for you to do is focus on the management. It’s a great opportunity to learn how businesses function and master your skills as a manager.
There are a couple of downsides you need to be aware of, though. For instance, you won’t be able to change anything about the business model. Franchises also carefully choose their location, and you won’t be able to move your business unless you get the approval from above.
Things You Need to Know When Looking for Businesses for Sale in Calgary
Franchise vs independent business is not the only concern you’ll have when investing in a business in Calgary. While FindBusinesses4Sale makes the purchasing process very easy, you need to pay attention to a couple of more things.
No matter how small it is, every business operation is complex. When buying a local business, you need to keep your eyes peeled for the smallest of details. If you decide to do so in Calgary, the following questions will help you find all the right answers you need:
The success of a business often depends on its location. It’s definitely something you need to consider before making a purchase. Yes, the location will most definitely affect the lease price, but there’s more to it. The business location should always reflect your unique business model and the location of your ideal customers, which brings up the next question.
Before you even start looking for business on the FindBussinesses4Sale platform, you need to do your market research. Yes, you should focus on discovering the demographics interested in your products or services. More importantly, you need to learn where they are. Calgary is a big city, and you need to consider how convenient it will be for your customers to visit your establishment. The closer you are to them, the better.
Staff is another important business aspect to consider. Will you have to hire new staff? Does the business come with experienced staff? These are the questions that should be on top of your mind. It can prove difficult to kickstart something when you need to hire from scratch, especially if you are new to the town. It’s time-consuming, and you might even end up having to work with a local HR agency.
When people see a business on sale, they usually think that something must be wrong. That’s the main misconception in the world of business. It’s often nothing more than a business owner deciding to move on to something else.
In any case, you don’t want to leave it unchecked. It calls for detailed research, so before you purchase a business in Calgary, you want to make sure that the business hasn’t generated a significant debt or that there are no other issues. If you do discover some issues, you’ll be able to get a better price.
While it’s very important to check and double-check all the information about a business, one can easily lose track when assessing multiple, multiple businesses for sale in Calgary opportunities. Checklists are often quite useful in this scenario as they can help you bring structure to your research and keep information stored in your business research spreadsheet.
With access to all this information, you can assess a business in a matter of minutes. It also streamlines business comparison and enables you to choose a business with a potential for growth and expansion. Going into details will also help you identify the business aspects that need improving once you become a proud business owner.
With this in mind, we have put together a checklist you should follow through whenever you are considering buying a business:
- Make sure your finances are on point
- Research business customers
- Do a complete HR analysis
- Ensure all contracts, licenses, and permits are valid
- Check the insurance policy
- If it’s a public company, check its position on the stock market
- If you can, make sure to visit the business offices
- Conduct a detailed analysis of business finances
- Check for potential intellectual property issues
- Make a list of all business assets and analyze them
6 Tactics to Help You Evaluate a Business
Whether you are planning on acquiring a small or medium-sized business, you’ll end up spending valuable time and hard-earned money. Is there a way to know if the business is worth it? Of course, there is. When you know where to look for and what to look for, you can quickly evaluate a business and make an informed purchasing decision.
The following four tactics will help you do it in a time-efficient way and ensure that you make a smart investment.
Calculate the Value of Business Assets
To see how much money your business can bring and how much money is trapped by the business, you need to calculate the value of all business assets. Business assets are divided into two categories intangible and tangible business assets.
Intangible business assets are not physical. For instance, intangible business assets include intellectual property, customer experience, and customer relationships. Since they all have their say in business revenue, you need to calculate them or at least assess their approximate values.
Calculating the value of tangible assets is significantly easier. It refers to physical assets. For instance, if a company owns the location, the location counts as an asset. Other assets are office furniture, IT infrastructure, furniture, raw materials, products, and so on.
Conduct a Quick Market Research
Every business operates within a specific market. Acquiring a business before previously researching the market is a bold move. With your time and money on the line, it would be better to conduct a serious market analysis before you go all in. There are two aspects of market research that you should pay attention to.
First, you should assess the demand for the products or services the business offers. The law of demand and offer defines the prices of the products and services. The insights from the research will allow you to assess whether your business is going to be profitable. You can also identify potential growth and expansion opportunities.
Second, you should assess the competition because it’s an important element of the market. You can learn a lot from observing their operations, starting from sales and all the way to marketing. The competition analysis can help you identify the market gap you can pursue to monetize the products or services in your offer better.
Check Business Reputation
People have various experiences with businesses in Calgary. The city is neither small nor big, and the experience customers have with a business tends to shape their future purchasing decisions. Before you acquire a Calgary business, you should definitely check its reputation.
You don’t want to end up having to invest heavily in rebranding. Many businesses have some sort of customer relationship management strategy in place. You want to look into it, as it will help you ensure that you are getting a business people had a positive experience with.
Bring a Professional Advisor Onboard
There are many business aspects that you can assess even with minimal background experience. However, when it comes to financial and legal aspects, you need to know a thing or two. For instance, one clause in an insurance policy can mean a difference between running a business or closing the door.
Fortunately, there are plenty of legal and financial advisors you can consult with. You can keep this trick up your sleeve until you have several solid investment options. At the end of your research, you can bring an experienced professional advisor to greenlight your idea or identify potential red flags.
If you decide to work with an advisor, make sure they screen all your investment options. That way, you can identify the best one and minimize the risks that go hand in hand with legal malpractice or bad financial planning.
Double-check the Key Elements of the Organization
The key elements of a business organization differ from business to business. However, there are a few things that most businesses share – the incoming profits and bills, supply chain, the payroll, and the cost of doing business.
You should always keep these business aspects at your crosshairs when doing background research on any company for sale. Together, they add or subtract from the business value, and you can leverage any potential drawbacks to get a more affordable price.
Don’t Forget the Digital Footprint
Every business nowadays has at least an official website. It’s become very common for companies to run a social media page as well. You can learn from the business’s digital footprint a lot. For instance, the number of social media followers can tell you about the business’s popularity. The same goes for the website traffic.
It’s especially important for companies that do part of the business online. If there’s an online store, you should check customer reviews and questions. That’s really valuable information, and it will enable you to make an even better purchasing decision.
Finalizing a Purchase of a Business in Calgary
The tips we’ve outlined for you will make it easier to identify the best opportunities in FindBusiness4Sale’s businesses for sale in Calgary offer. However, finalizing a purchase calls for the help of someone experienced in legal matters.
With a legal representative by your side, you will be able to custom-tailor the agreement with the seller and prevent any potential oversights. Don’t worry – you’ve done the majority of the heavy lifting by this point. However, don’t let being a step away from signing the paperwork make you drop the ball.
Businesses for Sale in Calgary – Tax Information
The flourishing oil industry in Alberta significantly affected the industrial development in the province. It’s one of the best business states to live and run a business in. While the business landscape and market offer a great many opportunities, you’ll find that the business taxes are generous too. It’s something you have to pay attention to, given that every business is required by law to pay taxes.
Let’s start with a general corporate income tax rate. Business owners in Calgary are subject to Alberta tax laws. The corporate income tax rate in Calgary was 12% until June 30, 2019. However, Alberta decided to start decreasing the general corporate income tax rate to finally reach 8% by January 1, 2022.
The great news is that the tax rate will be 8% starting from July 1, 2020. It’s a perfect opportunity for corporations that want to acquire a business in Alberta and pay lower taxes.
The Alberta government has different tax exemptions programs, which often change. We can’t give you any tangible info about these programs. However, you can check if there are some ongoing programs on the official website of the Alberta Government.
At the moment, Alberta’s Recovery Plan offers the Innovation Employment Grant (IEG). To be eligible, you need to own a small or medium-sized business focused on investing in research and development. The grant is worth up to 20% of expenses that qualify for the program.
More Businesses for Sale in Alberta
When you start your research in Alberta, you’ll see that almost every market is alive and quite dynamic. Whether you are interested in hospitality, technology, software, food service, or entertainment, you can find many valuable business investment opportunities.
Given that the corporate tax rate is very low, you’ll easily stay profitable. FindBusinesses4Sale puts you in a position to effortlessly browse, find, and research more businesses for sale in Alberta. Feel free to explore other businesses for sale outside of Calgary. You can take your research up north and research businesses for sale in Edmonton.
You’ve made the right decision to look for business investment opportunities in Alberta. There are many businesses for sale in Calgary. With the help of FindBusiness4Sale, you can effortlessly look at and assess businesses from various industries in this town. Our listings are always kept up to date, and we have a strict information accuracy policy. Happy hunting!