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

[Sonovgrace]

You need to know if the business is the right business for you to do or the wrong one so you need to be very very very careful about it because things are not easy and business is not what someone can just jump into anyhow like that without do a total findings

 

[Lawal]

Purchasing a business the right question to ask is that what type of business can you do with your money moreover if you want to purchasing a business you need to know about the business and if you are purchasing a business you need to know more about the real business when you don’t know about a business don’t go into the business

 

[solalal36]

Ask for the business cash booklet. A good business should have a cash booklet that will record the inflow and outflow of money in the business. Find out if the business is registered by the corporate body of the organization. Find out if the business is running on loan. Lastly, meet people around the vicinity of the business or customers to review the business. That way you know if the business is viable for buying

 

[Nuonuh]

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?

Post automatically merged: Feb 15, 2021

purchasing a company required a lot of information gathering before approaching the company and when in touch with them, their reason for selling, current market value and marketing status, their past turnover and budget records and their performance record as all this will point you to the fact if it's to buy or not

 

[munawarali]

No your quedtion is not right because busines star does not purchase

 

[Lawal]

When you are purchasing a business you most know more about the business and have money to run it also you have to know the requirements that the business need in order to get the right business idea moreover you need to have money to start up the business

 

[Rom90]

PPurchasing a business,the first question to ask is :
1) what is the reason behind it
2) what is the monthly or yearly turnover from the business
3) is the current location good for such business
4) any outstanding debt from the business etc.

 

[tyrim88]

The things to consider when buying a business is to know about the dept profile of the firm and how it was incured.You should know about the reason for the sales the liability and non performing asset of the firm.

 

[Eodine]

Purchasing a business should be something to be threaded carefully, you should find out why the person that wants to purchase the business wants to if it is because of money, or tax policy or government order or fraud before considering to purchase a business.

 

[sam386150]

Personally if I want to buy business from someone else I have a lot of questions to ask concerning the business, first of all I will ask about the year the business was established, I will also ask you about the kind of productions that customer requires most in the company.

 

[btaliat]

The liquidity level is very important, we need to make sure that we check when the business has been running and the future of the companies. If I were you, I will even go ahead to ask the reason for selling the business.

 

[Ruthyfizy]

It is very important to know the why the owner of the business wants to sell it,if there are debts to be settled and if the business is registered or not and most importantly if there are share holders of the business..

 

[Felixko]

In purchasing a business questions are the most important things that one can think of, if questions are asked you will get to know why and what makes them to sell it out. The best questions to asks is how much it cost , what are the profit you will get , some challenges you will be likely to face and how you can manage that business.

 

[Good-Person]

There is no way a wise person would ever want to sell his well-set business. If a person is selling his business then it might be possible that he needs money for something really important. The first question that would come in my mind would be: why is he selling his business in the first place? The second question would be: if I ever buy this business, will I be able to cover my investment? How much time would it take to earn profit? What is the nature of business? What are the chances of growth?

 

[James]

I always prefer to have all information regarding liability and responsibility specially account related information always useful as sometime people do play around accounting and take you towards higher selling price. I prefer to do SWOT analysis which is also important for me.

 

[Adventurer]

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?

You've said all, these points are the major factors you should be looking at especially financial records and why the business is up for sell, also if you can afford an auditor, to audit their books that should be sufficient information.

 

[Ezzyoj]

I will definitely be curious to know the reason for the selling of the business, the seller may not give the right reasons but I will definitely try to find out why the selling. Also, I will like to know the financial records of the business from inception todate, and also, I will love to know the high clients that have been patronising the business.

 

[Blessedsam60]

Yes. This is a very nice business discussion. But the major question which should not be neglected is that the buyer should be able to know why the seller has decided to sell this business or company. Another point of view is that the company's relationship with customers should be verified.

 

[Nomad]

Different rules apply to purchasing online business and offline business. In case of online business, ask the owner to have an access to google analytics data and see the traffic. Also ask the owner to check the adsense or any advertising data.

 

[Justin]

I have no intentions of purchasing a business, however, if I ever plan on purchasing a business the first thing I will consider is the traffic (if it is an online business), I will like to see if the traffic is coming from legitimate sources.