Purchasing a business

[Smiles20]

It is important to ask different questions or research, the main thing would be to know the legal side of the business, if it has any past, pending or potential lawsuits, if the procedures are well documented, the type of What are your biggest challenges at that moment. Last but not least, investigate the reason for the sale.

I am personally going to advise that you should review all the documentation of the business no matter what. You might be able to see any loopholes that might put you in trouble.

 

[Sincerem]

You just have to know the real reason why the business are to be sold. From there you will get the main idea and intention they are selling it. All documents and everything concerning the business must be presented out.

 

[Immilash1]

You should be open and ask the business owner or the person who intends to sell about the things that he learnt from the business so that you might not make some mistakes on your own path.

Yeah that's the best way to take care of it, before you can buy anything you need to know the importance of that thing you are going to buy, and also make good research before investing your money on it, that's the best advice I can give.

 

[Shigobad20201]

When buying an already existing business , the main question you need to ask is the reason why they are selling the business , you need to know if the business is not in a lot of debt ,

 

[Chibson]

Before you purchase a business you must first of all consider the purpose of that particular business and its visions on the long run. After understanding its visions properly then you need to determine the value. You also need to ask a lot of questions about the business. You can ask insiders the questions to determine whether it is worth it or not.

 

[Immilash1]

When buying an already existing business , the main question you need to ask is the reason why they are selling the business , you need to know if the business is not in a lot of debt ,

You have said it all, you need to know why are they trying to sell the business and if they don't provide a good reason for that I don't think it will be a good idea if you buy it.

 

[GIFTMICHAEL]

As we understand , in businesses reputations really matters for its success. You have to ask about the reputation the business has created on the public . That will help you to know if the business you are buying has a positive review by the public or not.

 

[Immilash1]

As we understand , in businesses reputations really matters for its success. You have to ask about the reputation the business has created on the public . That will help you to know if the business you are buying has a positive review by the public or not.

That's exactly the point, you also need to know why are the trying to sell the business, they are expected to give a solid reasons on why they are trying to sell the business.

 

[Sotherefore]

It is not only about questions. Questions sometimes I may not work as people may likely lie about most things you may ask . You should also be ready to carry out your own research to really understand the main purpose for which they have decided to sell the business.

 

[Treborika]

Honestly speaking purchasing of a business can be a very good idea. This is because it saves you time money of looking at the appropriate location for the business, searching customers from scratch and other factors which can be so frustrating.

 

[Immilash1]

It is not only about questions. Questions sometimes I may not work as people may likely lie about most things you may ask . You should also be ready to carry out your own research to really understand the main purpose for which they have decided to sell the business.

You are right, but I think if the person lie that means he's trying to cheat you which is very bad, if you are good at lying in your business you'll definitely ended up having the bad results.

 

[GIFTMICHAEL]

That's exactly the point, you also need to know why are the trying to sell the business, they are expected to give a solid reasons on why they are trying to sell the business.

Yes a reason you have to be convinced of. Some people are likely to sell out their business when they understand that they have damaged the reputation of the business.

 

[Immilash1]

Yes a reason you have to be convinced of. Some people are likely to sell out their business when they understand that they have damaged the reputation of the business.

That's exactly the point, I have seen a situation were by some people have to invest all they have, to me that doesn't make any sense, there's no way you can go all in.

 

[GIFTMICHAEL]

That's exactly the point, I have seen a situation were by some people have to invest all they have, to me that doesn't make any sense, there's no way you can go all in.

Investing all that you have in a business may depends , only if you are hundred percent sure that the business will succeed. Some people may not have enough capital to start up the business that is why they invested all their available capital to bring it up to a reasonable standards.

 

[Immilash1]

Investing all that you have in a business may depends , only if you are hundred percent sure that the business will succeed. Some people may not have enough capital to start up the business that is why they invested all their available capital to bring it up to a reasonable standards.

Investing all that you have is not a good idea, just like forex trading nothing is hundred percent sure you have to be very careful in terms of going all in, going all in is very dangerous.

 

[GIFTMICHAEL]

Investing all that you have is not a good idea, just like forex trading nothing is hundred percent sure you have to be very careful in terms of going all in, going all in is very dangerous.

If it is an offline business , then people can possibly invest as much as they have provided they are very sure about the future potential of the business . I think that is what really matters .

 

[Genie011]

If it is an offline business , then people can possibly invest as much as they have provided they are very sure about the future potential of the business . I think that is what really matters .

I believe even the offline business also has some level of risk too, it would be great to have some things to fall back on Incase it doesn't work out well as planned earlier.

 

[GIFTMICHAEL]

I believe even the offline business also has some level of risk too, it would be great to have some things to fall back on Incase it doesn't work out well as planned earlier.

You mean having more than one source of income ? I always encourage because I see it as the best thing especially now in which a lot of goods and services are quite difficult and expensive.

 

[Immilash1]

If it is an offline business , then people can possibly invest as much as they have provided they are very sure about the future potential of the business . I think that is what really matters .

That's exactly the point, if you are looking for a way to earn money online you definitely need to get use to investments, be it online or offline,you can only earn a good amount if you invest.

 

[Sotherefore]

Although I wouldn't have any plans and preparations to buy a business in the future, but in situations like this I have to carry out a lot of research and most importantly this research will be to understand the past history of the business.