Purchasing a business

[tyrim88]

If I was to purchase a business, what sort of questions should I ask the business owner that could help with the trade? It's important that you don't regret your buying decision so any advice would be greatly appreciated.

Most times the reason for selling a particular business could be that from the onset,it was seen as business that could be groomed so that at maturity it could be sold for a higher fee.But outside of that,you need to investigate the reason for the sales,is the sector still viable,are there debt on the current owner and some valuable technical input that would beneficial to the new owners.

 

[eLdavis]

Though a better option might be to build yours, but it is never a bad idea buying over a business, most companies do this. It simply means you are growing when you start buying other business adding to yours. The first thing you should ask is their mode of operation, how they deal with clients and the likes. That what you should ask.

 

[Hena101]

When you want to purchased a business you don't need to asked the owner any question but go and ask other people why someone want to sell his business.

 

[delnovem]

1.tax returns. 2.business activity statements (BAS) 3.records of accounts receivable and payable. 4.balance sheets. 5.profit and loss records. 6.cash flow statements. 7.salesrecords. these are the steps you need before purchasing a business​

 

[tyrim88]

Buying a business requires one to ask so many important questions. One of them is if the business has any debts. For example if the rent for the stall has been paid the past months, any electricity bills and any other debts that may affect the business running.

This is a very good aspect to look into when you are buying up a business,you look up for possible liability of the outfit and check on their record for any debt profile that has not been settled and the customer volume in that niche,asuming you do not know much about the business environment.

 

[jeff87]

When you want to purchased a business you don't need to asked the owner any question but go and ask other people why someone want to sell his business.

When you purchase the business, you should run the business more than it's original owner has done. If they have failed then do your best to make it successful. When they have been successful, you should do greater to surpass their success.

 

[joy101]

Purchasing a business there are so many question business owner need to ask because business is not what you can just start without proper planning.

 

[Yusuf1]

It's very important for you to know the amount of expenses that goes into the business and how much the business makes at the end of the month. With this you will be able to know if the business is profitable or not

 

[kayode10]

Purchasing a ready-made business has its own advantages. Ones have a ready-made business, you are going to skip past some of the unnecessary mistakes blunders are the early stage of a business.

 

[Setho]

It is important to know why the business owner in himself is trying to sell the business. If you should know this then you will be able to know how to devise your own strategy and then be better in selling products than him.

 

[Solutionav]

If I was to purchase a business, what sort of questions should I ask the business owner that could help with the trade? It's important that you don't regret your buying decision so any advice would be greatly appreciated.

I think the first thing you need to do is get information about the business then go for site inspection it depends thought, after that what you see will determine the kind of question you will ask

 

[Setfragil]

When purchasing a new business you need to know if the business does not owe other businesses and you should also know if all the business documents are genuine.

 

[FreshKaz11]

If I was to purchase a business, what sort of questions should I ask the business owner that could help with the trade? It's important that you don't regret your buying decision so any advice would be greatly appreciated.

I think it depends on the kind of business you are going into or you want to acquire will determine what I will advise you to ask while you want to pay for it. So I would like you to share more light on it.

 

[Ceeny007]

One thing you should know is that no seller will discredit his or her merchandise,if you don't know first hand how a business works and you've not done consultation don't buy a business

 

[joy101]

Purchasing a business I should know the kind of business that I should go into before starting the business, is very important to know.

 

[Mayox25]

When you are purchasing a business you have to do due diligence on it. You have to consider debt profile of the business,the contractual agreement/obligation that subsists,if there are any litigation that subsists and so many other things.

 

[kayode10]

It is very important to look at the cash flow of the existing business you want to buy before you can put down your money. Cash flow is like blood system of any business.

 

[Filicit]

One thing you should definitely ask to know about is the financial statement of the company you intend to buy, this will reveal all the assets and liabilities if any about the business

 

[Setfragil]

When you're buying any business, you need to know the past history of the business. You need to know the debtors and creditors of the business and make sure to have all the legal documents of the business.

 

[Bousine123]

If I wanted to purchase a business I will purchase a food business, I will purchase it because it will be pretty difficult for such a business to die, because people will Always eat.