The Smart Way to Start a Business Is to Buy One
- Roger Pierce
- Jul 21
- 3 min read
Updated: Jul 22
If you want to be an entrepreneur but don’t want to build something from scratch, consider buying a business that already works.
That’s the focus of my conversation with Scott Stirrett, CEO and Founder of Venture for Canada, on the latest episode of The Unsure Entrepreneur Podcast.
Scott has helped over 10,000 young Canadians get into business through internships, fellowships, and now, a program designed to help them buy existing companies.
The idea is simple: Canada has a lot of businesses for sale. Many are successful. Most are run by older owners nearing retirement. And someone needs to take over. “There are 100,000 fewer entrepreneurs in Canada than there were 20 years ago,” Scott says in the podcast. “We’re not keeping up, even though the population is growing.”
Over 54,000 small businesses are for sale in Canada.
And here’s what makes this relevant: over 54,000 small businesses are currently for sale in Canada. About 42% of them are owned by baby boomers. That’s a huge opportunity for anyone (especially young entrepreneurs) interested in business ownership.
Scott's solution? Venture for Canada presents an innovative program known as the Entrepreneurship Through Acquisition (ETA) Academy. This four-week course educates aspiring entrepreneurs on the process of purchasing a business. Applications to the program open July 23, 2025.
Here’s what participants learn:
How to search for and evaluate a business to buy.
How to finance it with a mix of debt, equity, and seller loans.
How to transition into the role of owner and operator.
You can finance a purchase with 40–60% debt if the business cash flows are solid.
One of the major perks to buying a business is access to funding. “Most deals are financed 40% to 60% with debt,” explains Scott. “If the business has strong cash flow, banks are more willing to lend than they are to fund a startup.” The business seller may also be willing to help finance your purchase.
In my upcoming book, there's a chapter about the 3 ways to get into business ownership: you can startup from scratch, you can open a franchise, or you can buy an existing business. Have some fun clicking around businesses-for-sale-by-owner websites such as BizBuySell.com and BusinessesForSale.com just to get a sense of what's out there.
Ultimately, however, you may find your dream business through your network. “The best businesses aren’t always found on broker sites,” Scott says. “Sometimes they come from conversations. Let people know you’re looking.”
Not sure if buying a business is for you? Consider this:
You can skip the startup grind and step into a business that already has customers and systems.
Many great businesses for sale never get listed online — you need to tap into your network.
A good business broker or lender can help you avoid costly mistakes.
He also emphasizes the importance of training. “There’s virtually no ETA education available in Canada,” he comments. “In the U.S., there are dozens of programs. We’re trying to fill that gap.”
The ETA Academy is a hybrid program — part in-person, part virtual — that features hands-on instruction from real bankers, lawyers, accountants, and business owners who’ve done these deals before.
It’s not for everyone. But if you’ve got leadership skills, a clear idea of what kind of business you want, and some patience, ETA might be a better fit than launching something new.
If you want to own a business but avoid the chaos of starting one (there's so much uncertainty and risk) then look into buying. Scott’s team at Venture for Canada is building the training, support, and network to help you make it happen.
Listen to the full podcast episode for more details and advice. You’ll come away with a new perspective, and maybe a new plan.
[Photo courtesy of Scott Stirrett]
Comments