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

[Nomad]

IN case of online business, you need to be very careful about how the traffic is coming. A lot of people manipulate traffic in order to impress buyers. They use bots and traffic exchange to show the big number

 

[Cash%]

When you are purchasing a business you can ask for the monthly sales and objectives of your business to see if it will suit your criteria or not and if it doesn't its best you leave the business to avoid loosing out

 

[Pastor Samuel]

Thé right question to ask before purchasing à business are thé following:
The terms and condition of the business must be stipulated to the buyer.
Also the privacy and Policy Of the business should be stipulated to the buyer.

 

[Nomad]

Yes, you also need to know about how much the business is making from sales/revenue and how much the business is spending as operational cost or promotional cost.

 

[Akinwale701]

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?

Goodwill is the first thing to findout whether a business has or not. A business with strong good will is very easy to carry on. But without this, it's gonna be difficult.

 

[Dowenship]

When purchasing a business or about to purchase a business, i think the first thing you do is to check the fiscal development, population how the business could solve problem etc...

 

[Kayzzy3]

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?

If I decide to buy an existing company I will surely ask many questions to make sure it is the right decision.

The first question I'd probably ask would be, "Why do you want to sell the company?"
Afterwards I will ask about their major assets, necessary documents and their debt profile.

 

[Godleads1]

It isn't a good thing to acquire a business set up without necessary information on who is that seller, why sales and the probability that you meet up with other individuals. Adviceably, let's establish a business of our own and work very hard for it's progress.

 

[Richard92]

Yes that's true, you need to evaluate the business in terms of location capital, market proximity, this enable you to plan properly when starting up.

 

[UncleD]

We often see people purchasing an existing business from the real owner and continue to run it as their own. There are some questions to ask the real owner before accepting to purchase it. Firstly is whether there is any hidden debt being owed. There are instances when people will go this route only to be later told that the business had owed millions, which the new owner is not aware of.

 

[Abigael]

The reason for sell is a very good question to ask. Maybe one of the reasons is that the business is not so marketable, so you will decide on moving it to a more marketable location or to not buy it. Another question that you should ask is the ownership of the business. There was a case in my place when a business owned by partners was sold without informing the other partner. So the new owner faced some trouble with the other partner who did not know that the business had been sold.

 

[Muhammadawais]

There are a lot of questions to ask when buying a business if you want the business you're thinking about buying to be good. Too often, aspiring business owners purchase a company without doing the necessary research to provide them with the skills they need to succeed.

 

[Senator]

You need to know a lot about the business you are intending to purchase before purchasing it. Like the type of customers tht patronize it,what was it's capital base at startup and lot more

 

[Spicywilfred]

When looking at buying a business. You know if the business is renowned to a reasonable extent.check the records their sales update. Then the process of the business. Their mission and vision.

 

[Setfragil]

It is important that you ask questions when buying a business so as not to run into excessive debts. You need to ask the seller the reason for selling the business, you need to ask if there is any outstanding debts that needed to be paid, you need to ask if there is no ligation against the business, you need to ask if the business wasn't illegally established.

 

[Victor72]

One of the first question you should ask before buying a business is the reason why the owner wishes to sell the business, you also need to check the environment if that business is in the right environment. Then you can now consider the price or a business.

 

[Senator]

When you have come to a point that you have decided to buy a business, you should make certain that the business in not on any debt for you to inherit. Make sure it has a good standing with the law too

 

[nimzy]

in purchasing of a company or business from another person is good you make a personal survey because not information will be given to you by the owner of the business.

 

[Bookwormlux]

In addition, you need to have links with the first person who owned the business so that you have a proper understanding of legal implications of taking over the business. Sometimes, you get to see someone coming to claim ownership of the business.

 

[Setfragil]

Yes, you also need to know about how much the business is making from sales/revenue and how much the business is spending as operational cost or promotional cost.

This is a very important question to ask, the amounts of sales that the business makes on a daily basis or monthly basis needs to be known to really know or value the worth of the business, you also need to ask if the business is not in any form of debts to any business or individual.