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

[Muhammad Irfan **]

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[redpogi16]

When you are purchasing a business, you need to ask about capital,assets, liability, customer base etc. Since the price of business is market dependent, you need to ask about the market position of the business.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.

 

[Sheun450]

Questions You Must Ask Before Buying a Business · What are your biggest challenges right now? · What would you have done differently? · How did you arrive at your asking price? · If you can't sell, what will ...

 

[Kunkun]

While there are numerous inquiries that you can pose and a lot more that would in any case be forgotten about, there is a superior method to smoothen the progress of business from him to you. While examining the provisions of the buy, you add an extra proviso that post the buy, the proprietor should keep working in the shop for a very long time (or one month if time is a requirement for him) alongside you

 

[Setho]

To be honest no body is going to just wake up and decide to sell his business. So if you ever get approached or consider buying one then you should make a top to bottom evaluation of the entire company including their legalities, sales, running costs and their machinery, it could be they are old and failing. You should also check if the company products is going out of businesses

 

[Adeyoola7]

For purchase a business all I will first ask him is
How would you grow the company?
See if the seller will give you some specific strategies for growing the business. If they do share their ideas with you, ask why they haven’t executed the plans themselves. By quizzing your seller on these points, you could gain important insights into the business’s potential. If the seller has tried lots of different things without success, you may want to reconsider your position.

 

[Olubayo12]

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?

There are many questions to ask oneself and the business owner before purchasing a business... the amount of money they company made as profits and the goodwill present in the business are to be considered... also, when a business is to be purchased, appropriate documents need to be arranged

 

[Jumoke12]

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?

There are many questions to ask oneself and the business owner before purchasing a business... the amount of money they company made as profits and the goodwill present in the business are to be considered... also, when a business is to be purchased, appropriate documents need to be arranged

 

[Kehinde]

What does the business do?
What's the history of the business?
Why is the business for sale?
How old is the business?
How long has the business been operating under the current owner?
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? ...

 

[Dorcey]

When most people think of starting a business, they think of beginning from scratch--developing your own ideas and building the company from the ground up. But starting from scratch presents some distinct disadvantages, including the difficulty of building a customer base, marketing the new business, hiring employees and establishing cash flow...all without a track record or reputation to go on

 

[IamDozzy]

The most important thing to know when purchasing a business is to know the debt paid profile of the business. Who and what amount is the Business owing to individuals and financial institutions. A good knowledge of this would the determine the amount you would use to purchase the business and the amount that would be required to service the debt owed by the business.

 

[adeniji]

Before purchasing business, these following must be noticed.
(1). What will be my benefit.
(2). What will be advantages.
(3). What will be the disadvantages.
(4). What are the precautions to follow.
(5). Will the business have future.
These are the things needed to be considered before going inn to business.

 

[Setfragil]

When you are purchasing a business you need to know the reasons why the owner wants to sell the business. You need to ask the owner if the business is not under any debts that could threaten the business survival. You should also ask the owner if the business is not under some obligations to render services to another businesses, slike franchise agreement. You need to also ask the business owner if the business is doing fine in the market.

 

[Muhammad hussain]

I think whenever we buy a business, the first thing we ask is how much is the production of that business and how much is the monthly sales of that business.This will give us an idea of how much profit this business is making, so it will be easier for us to buy any business.

 

[Blue house]

There are many questions to ask when purchasing a business.
Questions Like how much to buy it and how long it will take you to make the capital and profit.
The location of the business, will it be suitable for you or not, why do they want to sell the company, will you be able to develop the company or not.

 

[Chris Jo]

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?

There are a lot of questions one need to ask before buying a business because knowing which questions to ask when buying a business will go a long way in helping the buyer make the right decisions. Some of the important ones have been mentioned above but asking whether or not the business will grow is another important question.

 

[chommyluv]

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?

is the business or company suffering bankruptcy, what is the main reason behind the selling of the company. Carry out an in-depth research about the company's modus operandi of the business of company in the past few years before taking a step towards buying it

 

[Nicklas22]

Purchasing a business is quite good but you have to ask some important questions like why is the owner selling the business
And you should ask about the key customers and staff of the business and also key suppliers

 

[Khizar iqbal]

I think if we buy a running business, our first question to them would be how much is the sales of your business and how much is your production so that we can gauge their business.In addition, we have to ask them about their labor and then the rest of the business. By asking all this, we will be able to assess the business whether the business is in profit or in loss.

 

[Sadia aslam]

I think when you buy a business and first gather information about it, you ask people how much your business has per month sales.And with the amount of production you get in a month, you can get a good idea of how much the business has to spend and how much the business will ever earn on a monthly basis.