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Canada Buyer Survey 2024

In April 2024, 434 business buyers from across the Canada participated in BusinessesForSale.com’s latest buyer survey. Here we take a look at some key insights and trends to discover what they are looking for, and how much finance they have at their disposal.

Buyer Survey

Budget range

Under $100K (16.82%)
Between $100K and $250K (23.13%)
Between $250K and $500K (19.39%)
Between $500K and $1m (19.16%)
Between $1m and $5m (18.93%)
Over $5m (2.57%)
Under $100K (16.82%)
Between $100K and $250K (23.13%)
Between $250K and $500K (19.39%)
Between $500K and $1m (19.16%)
Between $1m and $5m (18.93%)
Over $5m (2.57%)
Nearly a quarter of business buyers are high-net-worth individuals with a budget range of more than $1m, demonstrating their access to capital.

Cash deposit

Under $100K: 39.11%
Between $100K and $250K: 32.79%
Between $250K and $500K: 14.05%
Over $500K: 14.05%
A third of business buyers have between $100k and $250k to invest in a business.
Finance

Is this your first time buying a business?

Yes: 64.57%
No: 35.43%
More than a third of business buyers have already bought one before, demonstrating their entrepreneurial experience.

Employment status

In full time employment (43.68%)
In part time employment (5.52%)
Currently unemployed (7.36%)
Run your own business (36.55%)
Other (6.9%)
In full time employment (43.68%)
In part time employment (5.52%)
Currently unemployed (7.36%)
Run your own business (36.55%)
Other (6.9%)
The majority of surveyed buyers are currently in full time employment.

Age bracket

18-24 (0.69%)
25-34 (7.83%)
35-44 (23.96%)
45-54 (31.11%)
55-64 (27.42%)
65+ (8.99%)
18-24 (0.69%)
25-34 (7.83%)
35-44 (23.96%)
45-54 (31.11%)
55-64 (27.42%)
65+ (8.99%)
The largest percentage of buyers fall into the 45-54 age bracket, and a third of buyers are under the age of 45.

Looking to buy a business or franchise?

Business: 57.6%
Would Consider Franchising: 42.4%
The majority of buyers are looking for a business, but a large percentage are also open to the possibility of franchising.

Motivation for buying a business

lightbulb Entrepreneurial Desire from Early Influences
public Exposure to Online Influencers and Resources
attach_money Desire for Ownership and Independence
trending_up Better Opportunity Compared to Starting from Scratch
swap_horiz Life Circumstances and Career Transitions
history_edu Building on Past Experience
People

Length of time spent finding a business to invest in

Less than a month (9.49%)
1 to 6 months (28.47%)
6 to 12 months (25.46%)
1 to 3 years (21.06%)
3 to 5 years (7.18%)
5+ years (8.33%)
Less than a month (9.49%)
1 to 6 months (28.47%)
6 to 12 months (25.46%)
1 to 3 years (21.06%)
3 to 5 years (7.18%)
5+ years (8.33%)
The majority of buyers have been looking to buy a business for 1-6 months.

The reason most people are looking to buy a business?

attach_money Financial Freedom & Independence
favorite Passion and Personal Fulfillment
expand Growth and Expansion
check_circle Established Cash Flow and Reduced Risk
group Legacy and Family
autorenew New Challenges and Career Change