looking for businesses to buy in IL

April 24, 2025

by a searcher from Loyola University Chicago - Quinlan School of Business in Chicago, IL, USA

Hi all – I'm actively searching for small businesses to acquire in Illinois, with a focus on owner-operated companies where the current owner is looking for a smooth and thoughtful transition. I'm open to a range of industries but particularly interested in businesses with strong customer relationships, stable cash flow, and opportunities for growth through improved marketing, sales, or operations.

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Reply by a searcher
from Northwestern University in Chicago, IL, USA

I'd encourage you to get a little deeper on this criteria. Think about what you like and don't think. Do you want to work in an industry like restoration where referral relationships are the name of the game? Is construction on the table? I'm active in the Chicago market and always willing to help also.

Reply by a searcher
from Stanford University in Chicago, IL, USA

Hey there. Defining the size* and industry** goes a long ways in helping you build a search thesis. A simple prompt into your choice of LLM (read ChatGPOT) can easily help you get a first draft of a search thesis. *Size: Revenue, EBITDA, or Seller's Discretionary Earnings, aka SDE, metrics are helpful-- many solo searchers focus on the <= $2M SDE. A very simple swag at that can also be employee counts since employee counts correlate with revenue (e.g. $200k of revenue per head). **Industry: Defining which industries you like (or more importantly which ones you *do not* like) goes a long ways. Ideally, you'd have a list of NAICS or SIC codes you'd search around. Use the Data Axle feature above to help you narrow that list.

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