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

[Ezekiel]

As you have said paper work is very vital and important when marking sales or transaction especially or landed property, if I am the buyer I would also care to Know reason why he or she is selling the property

 

[Good-Person]

When it comes to purchasing a business, you must analyze the current position of the business and the profitability factor. The current position has a big relationship with the future.

 

[kayode10]

You need to first determine the major reason why the business is up for sale. This will help you to determine the major cause of the business failure and the things you can do to rectify the situation.

 

[Smiles20]

The first question that you might want to ask yourself is why the sellers of the business wants to sell it off in the first place. After you are convinced then you should question the quality of the materials and equipments that are involved.

 

[Good-Person]

I think it is always a good idea to consider the location of the business. This is because location usually plays a really crucial role in the development and success of any business.

 

[Sotherefore]

Any business you are purchasing must be a well-registered business with the government because without this you might be at risk of getting arrested ,every document to prove the genuineness of the company must be provided.

 

[kinqzbitz]

Well there are so many questions to ask before actually going into a business first of all you must be sure if it is something you can do and then you must be sure of the amount of capital to use

 

[Godspower]

You must try and inquire about the current assets and liabilities of a business before buying it or even investing in it.

 

[Thinker009]

The running cost is very important to note ,you need to note the amount it would cost in trying to run the business properly and so many other important viable thing that would have effect on the business when you are in control

 

[Toyoabasi]

When purchasing a business the right questions to ask are;
Why is this business for sale?
What is the history of the business, including the background of founders and the key management?
What is the outlook for this business?

I think it is appropriate to ask the seller the reasons for selling the business.
Get to know if there are outstanding debts, get to know the stakeholders involved in the business and get to know if it has a potential to succeed.

 

[Immilash1]

You have said the most important things. you can also ask about how profitable the business is and what's the bad side of the business.

 

[Smiles20]

If you are willing to buy a business then usual very well consider they factors that is making the owners want to sell it. The equipments that is used there is something you should also check out.

 

[Abasiama40]

Before you purchase a business, you should have accurate knowledge of the business before you purchase it, how has the business been valued, you have to know the financial record,and it's accuracy, you want to know if you want to retain the existing employees and the trials period.

 

[greenie]

Purchasing a business requires one to be very cautious and tactical. The reason of sale is actually the most important verbal questions you need to ask the seller before requesting for past records with their clients. Also request for the remarks or review records from their past clients. Also their account books are very important to know the financial state of the company or business.

 

[kayode10]

You need to first hours for the financial statement of the company in order to determine the direction of the cash flow. This will give you overview on how the company is being managed and the necessary changes you need to make.

 

[Bookwormlux1]

If the owner is selling because he did not do well in the business, then you should ask to know why and try as much as possible to learn Enough from his experience, so you won't fail.

 

[Kaffyfolla]

Questions to Ask Before Buying a Business

• How Has the Business Been Valued? ...
• What Are You Purchasing? ...
• What Are the Business' Financial Records? ...
• Are the Financial Records Accurate? ...
• Will You Retain Existing Employees? ...
• What Is the Trial Period? ...
• What Do Other Stakeholders Say? ...
• Have You Engaged a Business Broker

 

[kayode10]

You need to ask for the financial record in order to determine the cash flow of the business. It is very important to determine how they are spending money and other financial leakages. You should also demand for their mode of operation to see how you can make a drastic change for better output when you take over.

 

[Heatman]

It is important to ask about the assets of the business and the liabilities first. It is basically knowing the worth of the business at that particular time.
To know these and more, one should obtain the books of account of the business.

The financial record of a business is very important because it is what is going to show you how the business operation has been over the years that it has been active.

 

[Syldan]

There are numbers of questions which you are supposed to ask before buying a business from anybody. Firstly make a survey as to the reason why the business is being sold out, Alos try to know those challenges the business is facing.