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

[Nadistik01]

Before buying any business, there are some basic things one must greatly consider or ask oneself. Importantly you must ask Why do you want to buy this business?,
How will you make sure you are successful?, How much capital do I have access to?, How much Is the business worth?, Request to speak with the current owner, ask to see the business' current financial statements.
With the above mentioned questions been answered, one can then consider to say he/she wants to buy a business

 

[EMMANUEL]

Evaluation is another case study to intensify more on, and based on the current owner review there has to be a reason why the owner is letting out the business. Moreso I don't encourage the fact that you saw it cheap and you are now willing to go for it, to some extent that might be a dangerous step based in the experts idea or discretion.

 

[Hasan Raza]

While purchasing a business i think ask questions by the owner of business is not good. In my opinion rather asking a question we should search about reasons that why the owner of the business is going to quit is there any financial problem or the product problem either that product is at the right place or not.

 

[Seyesystem]

It's very good to know the type of questions to ask when buying a business will help you pay the right price for the business, and help you prepare to run the business after you close on the transaction. this means going through process that will help you determine which questions to ask when buying a business and when to ask them.
One crucial element to consider when buying a business is if the business is worth the asking price. These are some of the questions to ask: How old is the business,Why is the business for sale?,What does the business do? and How long has the business been operating under the current owner.

 

[Samuel77]

In my own point of view, if you want to buy a business, you will also have to ask how many worker are present in the company and their salary and also you will have to ask how many amount of product they can produce, so you can calculate your income and expenses before buying the company

 

[Godleads1]

A flourishing business will never be put on sales. Rather, the owner would think of ways to enlarge the coast. So, it's paramount to know the reason behind the sales. Haven done this, your duty as a owner to be is know what pot-holes to avoid as you take the steer wheel if the business so that the same thing would not happen.

 

[Blue house]

The first question you need to ask is they want to sell the business, you have to find anyhow, either by force or spy, because if their is any negative agenda they won't tell you,they might be experiencing a great loss before selling, so you need to know about the business before buying it

 

[Eyiteepraise]

When purchasing a business one has to know everything concerning the business,I.e the terms and conditions, privacy policy and so on has to be asked from the current owner.This is because ,neglecting this information will bring destruction to the business as the information that need to be known is not known.

 

[Felixko]

Questions to ask when purchasing a business ensure the kind of business u want to purchase is very consumable, see n ask about the funds needed for the business, how would you manage it, do you have those who can help you to manage it? And how will the profit and challenges be.

 

[Maks25]

If the business was offered for sale by the business owner , then you need to make enquiry on why the business is up for sale , secondly you need also to check if the business is in good shape , whether they have any outstanding payment in their payroll

 

[Kane]

I have not purchased any businesses, however, I havw sold a couple of online businesses. The first question that I face from thw potential buyer is about gross income ans expenses. Once I tell them how much the business is earning and how much is the running cost, my clients ask me to verify the income.

 

[iamgroot]

Asking questions is only fair before buying a business. I believe it's important to know the financial condition of the business and if it has an outstanding debt. Knowing why the current owner is selling its business is also a must. And ask about how did they came up with the price.

Indeed, who else here wants to buy anyones business for sale that has hidden issue? Of course we dont want that. Specially when they sell their business urgently, thats when you should ask more about them to ensure the cleanliness before they pass the title on you.

 

[Kiwi]

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. I wouldn't involve in buying a house without proper documentation of ownership. Or crisis marred building, meaning it is in lawsuit with another person over dispute of land encroachment.

 

[RETIRED SINNER]

Questions to ask depends on what business your venturing into, you need to ask how fast the business can Go, the right people to target, how much you can make from the business, location where the business can trive very well, and how much it will cost for production, all this questions vary from business types

 

[chicnthin]

Indeed, who else here wants to buy anyones business for sale that has hidden issue? Of course we dont want that. Specially when they sell their business urgently, thats when you should ask more about them to ensure the cleanliness before they pass the title on you.

If you bought the business without finding out that there are issues or debts, you will get into trouble. I find it skeptical when the seller is rushing the transaction. It would seem like they are hiding something when they want the deal to be done quickly. Though I'm that there are legit reasons for wanting a quick deal.

 

[Azam786]

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?

The question is, what business are you buying? Make sure it's business legal or un-legal and then find out about each other's history as much as you have to come to business.Then ask him about the profit and loss for the whole year Then check with him to see how long it lasts

 

[Hdre3m3n]

The right question to ask before purchasing a business are the following:
The asset of the business.That is, the asset of the the business must be ascertain.
To ask whether the business has ever gone bankrupt before.This is because if the business has ever gone bankrupt before it is likely for it to have debts to pay.

 

[DadMatilda]

Before purchasing a business or company, these factors are key for me. Number one, the company record. I wouldn't want to buy a company whose reputation is bad. Getting to redeem the image of a bad company cost a lot more than building a new one up from ground zero. Two is outstanding debts. Acquiring a company with a lot of liability and debts will cost a lot of time to begin to make profits. And the third factor is the business economic value. Indeed, a company thriving in it's chosen business will always have a comeback, once its management are relentless and full of positive strategies.

 

[Zevin]

I think the revenue claimed by the business owner should be independently verified. In most cases, the business owners lie about the revenue. Secondly, you also need to examine the asset, digital or physical. You need to ask about these things with the business owners and verify the claims independently.

 

[idhans]

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?

The most important thing to consider before buying an existing company is to check their outstanding debit. In some cases the outstanding debt might be bigger than the worth of the entire company. And also check to confirm that all the documents and certificates of incorporation of the company is genuine