Purchasing a business. What are the right questions to ask?

[eLdavis]

I think the very first thing you should ask as a potential buyer is the reason for the sales. Is it because of debts? Or lack of profit returns. After that you can start finding other details like the cost of maintenance and the likes.

 

[Setfragil]

Purchasing a business, you need to make sure that all the necessary documents of the business are all real and also make sure that the business is not in any form of litigation.

 

[akinlolu99]

Get some information about the resources of the business and the liabilities first. It is fundamentally knowing the value of the business at that specific time. To realize these and that's only the tip of the iceberg, one ought to get the books of record of the business.

 

[Shigobad2020]

First thing to ask the owner of the business that you want to buy is the situation current situation of the business and their sales and record book to check the in and out expenditure to know better about the business.

If I want to purchase a business, what are the right questions to ask the current owner? What factors should I be cautious of when deciding to buy another company? Up to date records, running costs, annual turnover, outstanding debts, the reason why it's for sale, and paperwork would be a good starting point. Any other suggestions

 

[Grandeur]

There must be a reason a business owner decided to sell his business and you would do well to ask in your best interest so it won't be like there's no more market for that business.

 

[Richard92]

When purchasing a business, you need to know all the terms and conditions associated with it, you need to request for a signed document which contains in detail all the things you need to know about the business, like the current net worth of the business, it's partners, stock and shares.

Purchasing a business the right question to ask is reason why the person is selling the business and whether the goose that is being produced by the company is no longer in vogue.

 

[kayode10]

It will be very important to you hire a certified accountant to come and look into the finances of a company. This will prevent you from acquiring a debt riding company.

 

[Mayox25]

Buying up a business requires you do your due diligence so as to know the real state of the business. You have to know the financial state of the business the liabilities in terms of loans, obligation to workers, client/customers,court cases, those that have been decided, those that are pending. Also you need expert advice and guidance.

 

[Setfragil]

When you are purchasing a business you need to know if the business does not owe other businesses and you must make sure that the business documents are all genuine.

 

[Snazzy001]

It is important to ask about the nature of the patronage the current business owner is getting from the public and the various setbacks and the business is having as well

 

[akinlolu99]

Buying a business expects one to be exceptionally wary and strategic. The explanation of offer is really the main verbal inquiries you need to pose to the merchant prior to mentioning for past records with their customers. Likewise demand for the comments or survey records from their past customers. Additionally their record books are vital to know the monetary condition of the organization or business.

 

[Hena101]

The right question to asked when purchasing an existing business is why the owner wanted to sell the business of you know the reason them you can go a head.

 

[Setfragil]

Before you purchase a business, you will have to know and understand the history of the business and make sure to have all the necessary legal documents backing up the business.

 

[Psalmseen]

To purchase a business requires getting some information about the business and demanding for vital documents and information from the business. Because once your purchase the business, the assets and liabilities becomes yours

 

[Setfragil]

When you're purchasing a business, you need to know everything about the business. And you should also make sure that all the business financial records are up to date.

 

[Seno inyang]

When purchasing a business the right questions to ask are;
Why is this business for sale?
What is the history of the business, including the background of founders and the key management?
What is the outlook for this business?

 

[Toyoabasi]

If I want to purchase a business, what are the right questions to ask the current owner? What factors should I be cautious of when deciding to buy another company? Up to date records, running costs, annual turnover, outstanding debts, the reason why it's for sale, and paperwork would be a good starting point. Any other suggestions?

To avoid regrets after purchasing a business, you should endeavour to ask the owner the reason for the sale of the business, ask for paperwork and ensure it's legit, ask about pending issues that should be addressed and get all records necessary.

 

[Ezekiel]

When purchasing a business I feel it's very important you take a look at the paperwork and also look into the, outstanding debt so that you don't start a business with loss due to outstanding debt

 

[Essy]

There could be a thousand things to ask someone you wish to buy a business from, but every transaction of the business would definitely be included in the balance sheet and cash flow of the business, profit and loss, depreciation, shareholders profit, etc, that would be a good file to request for when starting a business.

 

[Kubiat-Abasi]

Okay! the questions you should ask someone if you're purchasing the person's business is; why genuinely is the person leaving that business? What are the risks involved? The debt that has been incurred and also whether the business has a feasibility at all?