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

[Joyemmanuel]

In such case where someone don't perform market research effectively, the business is always exposed to greater chance of not succeeding. No matter talented you may be, but when you set up a business in the wrong place, you can never control the activities of the business activities towards profit making motive.

yes, it helps to know what people residing in that particular location lacks and what particular market or business that can be brought to the location so that the consumers can buy off goods quickly.

 

[Milz]

It is important to ask and analyse the assets and liabilities of the business. It is basically knowing the worth of the business at that particular time. Ensure you also go through the business record books and see for your how transactions are carried out.

 

[Afolabi]

Purchasing a business.what are the right questions to ask.
1) the right questions to ask is what are your qualifications that you are ready to do the business
2) what are the terms and conditions
3)what are the privacy and policy and so on in order to make profit.

 

[Psalmsavatar]

It's advisable to enquire many things about the business. Things like why the owner is backing off, the net worth of the business, the strength and weakness of the business, how the business can be made to survive and so on.

 

[Bangiszz]

For what reason would you say you are selling? ...

How have you shown up at the asking cost? ...

How might you develop the organization? ...

What results would you say you are searching for? ...

It is safe to say that you will concur a non-rivalry proviso? ...

Who are your key clients, providers and staff? ...

It is safe to say that you will remain on for a progress period?

 

[Lawal]

The question to ask when purchasing a business are why are you selling,what outcomes are you looking for,how will you grow the company,how have you arrived at the asking price, are youwilling to agree to a non competition clause, are you will to stay on for a transition period

 

[Halexcity]

Firstly buying a new business you have to first no the demand of people at that particular areal and u have to made enquiries on the mistake of the first owner so it won't fold up.

 

[Olamide wealth]

Why are you selling? ...
How have you arrived at the asking price? ...
How would you grow the company? ...
What outcomes are you looking for? ...
Are you willing to agree a non-competition clause? ...
Who are your key customers, suppliers and staff? ...
Are you willing to stay on for a transition period?

 

[Sunnytee]

• you selling? ...
• How have you arrived at the asking price? ...
• How would you grow the company? ...
• What outcomes are you looking for? ...
• Are you willing to agree a non-competition clause? ...
• Who are your key customers, suppliers and staff? ...
• Are you willing to stay on for a transition period

Post automatically merged: Feb 3, 2021

• you selling? ...
• How have you arrived at the asking price? ...
• How would you grow the company? ...
• What outcomes are you looking for? ...
• Are you willing to agree a non-competition clause? ...
• Who are your key customers, suppliers and staff? ...
• Are you willing to stay on for a transition period

Post automatically merged: Feb 3, 2021

• you selling? ...
• How have you arrived at the asking price? ...
• How would you grow the company? ...
• What outcomes are you looking for? ...
• Are you willing to agree a non-competition clause? ...
• Who are your key customers, suppliers and staff? ...
• Are you willing to stay on for a transition period

 

[Echo]

I need a genuine to this pls

 

[Sheyemanu]

Concerning this question on what questions you should ask when purchasing a new business, my first answer would be to ask for the reason the owner is putting the business up for sale, could it be bacause the business is on it's way down? Another question to ask is how is the customer relatiowith the business.

 

[Sunnytee]

• Why are you selling? ...
• How have you arrived at the asking price? ...
• How would you grow the company? ...
• What outcomes are you looking for? ...
• Are you willing to agree a non-competition clause? ...
• Who are your key customers, suppliers and staff? ...
• Are you willing to stay on for a transition period?

Post automatically merged: Feb 3, 2021

• Why are you selling? ...
• How have you arrived at the asking price? ...
• How would you grow the company? ...
• What outcomes are you looking for? ...
• Are you willing to agree a non-competition clause? ...
• Who are your key customers, suppliers and staff? ...
• Are you willing to stay on for a transition period?

 

[Tollytee]

When purchasing a business the right question to ask is that You must make research on the business through investigation by asking questions from people who have been in the business before and even from others people to know more about the business.

 

[Sparrow 001]

Sometimes mismanagement of a company can attribute to selling a company.. So try finding out the reason for the selling of the business.. Challenges they are having, what do I stand to gain when I take over.... How can I make a change in the company when it's finally in my possession

 

[Chumzy]

I think the first step should be hiring a reputable lawyer. Then the lawyer draws up a contract and then it is reviewed. Then proceed to checking the life of the business in terms of its financial statement.

 

[Tanny]

The right question to ask before purchasing a business are the following:
The terms and conditions of the business must be asked clearly.
The privacy and policy of the business must be clearly asked.

 

[Youngdee]

When purchasing a business you have to be strategic, wise and tactical about it. Questions should asked and surveys should be done about the management and reason for sale of that business. Most business owners sell their business as a result of bad debt. The debt could be as a result of frequent loss or inability to move on with new trends. One must be aware of all this issues to know what step to take to ensure you don’t run at same mistake.

 

[Fabatsam04]

Before purchasing of any business, there are many questions to ask. Firstly, one should ask the reason the owner of the business want to sell it, this will help to know whether the business will bring profits or not. Therefore, reason for selling out the business will be the best and important question before purchasing it. All other questions should be under it.

 

[Samuel77]

According to my own point of view, purchasing a business you have many question to ask, first you need to know the standard of the business. If it is if good standard or the business is just growing. Also you will have to know the level of the business sales

 

[oluwaseun tope]

when purchasing a business one has to ask or ensure that the following is put into consideration:
The terms and condition of the business must be well known for the purchaser so as to know the restrictions of the business.