How to find off-market businesses to buy
By Jason, founder of JW AI Works
Some of the best businesses to buy aren't for sale yet. The owner is busy running the business, and nobody has asked. This guide shows how to find those owners and start the conversation yourself.
What "off-market" means
An off-market business is one that isn't listed for sale. There's no listing, no asking price and no information packet. You find the business, you contact the owner, and you learn together whether a sale makes sense.
That has upsides. You aren't bidding against everyone who saw the same listing, and you can look for exactly the kind of business you want. It also takes patience. Many owners will say no, or not yet.
Step 1: Write down your buy box
A buy box is a short description of the business you want to buy. Make it specific enough that you could look at a company and say yes or no in a minute:
- Industry (for example, commercial HVAC or dental labs)
- States or regions
- Size range, such as revenue or number of employees
- Years in business
- Anything to leave out
A tight buy box makes every later step easier. Your list is shorter and better, and your emails can say exactly why you're writing to that owner.
Step 2: Build your list from public sources
You don't need to buy data to start. Public sources are a good base:
- State business registrations and other government business records
- Licensing boards for licensed trades and professions
- Industry associations' member directories
- Companies' own websites, which often name the owner and show how long they've been around
Write down why each business fits your buy box. You'll use that in your email.
Step 3: Find and check the owner's business email
Look for the owner's name and business email on the company website or in public records. Check every address before you send. Bad addresses bounce, and bounces hurt your ability to reach inboxes later. Email business addresses, not personal ones.
Step 4: Write a short, honest first email
Keep it short and write it as yourself. Say who you are, that you're looking to buy a business like theirs, why theirs caught your eye, and ask one simple question. Don't talk about price in the first email. Our guide on how to approach a business owner about selling has a sample email and a call script.
Step 5: Send at a steady pace from separate inboxes
Don't send cold outreach from your main email domain. Set up separate sending domains and inboxes, and warm them up first. New inboxes need about 3 weeks of warmup before they can send safely. Then send a steady, modest number of emails each day rather than big bursts.
Every email should include your name, your mailing address and an easy way to opt out. When an owner opts out, stop emailing them for good. Klontak removes opt-outs within 24 hours.
Step 6: Follow up, then stop
Owners are busy, and a short follow-up gives them another chance to reply. Send up to 3 short emails per owner. If an owner replies or opts out, they get no more.
Step 7: Sort replies and screen interested owners
Replies fall into a few groups: interested, not now, not interested, and opt-outs. For interested owners, ask a few short questions you choose, then offer a call. From there, the conversation is yours.
What to expect
Nobody can promise a number of replies. It depends on your buy box and market. For a rough reference, one outreach firm shared its 2025 numbers on Searchfunder: 82,035 emails to owners led to 1,815 replies (3.87%). That's their combined result, not a forecast. (source)
Track what you send, the replies you get and the calls you book, so you can see what's working and adjust your buy box or emails.
Other ways to find off-market businesses
Direct outreach works well alongside other channels:
- People you already know in the industry
- Accountants, attorneys and bankers who work with business owners
- Industry events and trade groups
Where Klontak fits
Klontak does the outreach work in this guide for you. We build your list from public sources, write emails in your voice that you approve, send them in your name from inboxes set up just for you, and sort the replies. Interested owners get your calendar link.
It's $750 a month, flat. There's no commission and no success fee. If your emails aren't going out by day 21, month 2 is free. Day 21 counts from your first payment, and days we spend waiting on your buy box or approvals don't count toward it. That guarantee covers when sending starts, not results (full terms). Klontak never negotiates or advises on price or terms.