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.
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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
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.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.
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.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?