what questions to ask when buying a running business?
75134
['Why are you selling? ... ', 'How have you arrived at the asking price? ... ', 'How would you grow the company? ... ', 'What outcomes are you looking for? ... ', 'Are you willing to agree a non-competition clause? ... ', 'Who are your key customers, suppliers and staff? ... ', 'Are you willing to stay on for a transition period?']
1338315
['Am I Ready to Make the Investment? ... ', 'What Kind of Investment Am I Looking For? ... ', 'Do I Have Competition? ... ', 'What Risks Can I Take? ... ', 'Do I Have an Exit Strategy?']
69083
['What business are you in? The question sounds easy enough. ... ', 'How will the business make money? ... ', 'What does your business need to get off the ground? ... ', 'What is the operating budget? ... ', 'Who are your customers? ... ', 'How will you reach your customers? ... ', 'What sets you apart from the competition? ... ', 'What are your strengths and weaknesses?']
694990
['How long has the company been in business? ... ', 'Who are the people behind the company? ... ', 'Are the products or services of personal interest to you? ... ', 'What type of training is offered in the beginning? ... ', 'Does the company offer great support tools? ... ', 'How do you earn your money?']
293333
['Why is the seller selling? ... ', 'How long as it been on the market? ... ', 'Will owner do seller financing? ... ', 'What is the screening process for new residents? ... ', 'What is the effective occupancy? ... ', 'What is market rent? ... ', 'What is market occupancy? ... ', 'What type of work is needed on the property?']
154154
['Why do I want to start a business? ... ', 'Specifically what kind of business do I want to start?', 'Am I interested in selling products or services?', 'What are my key personal strengths--what am I better at than anyone else?']
589898
['How much money do you need? ... ', 'What does your credit profile look like? ... ', 'How will you use the money? ... ', 'How will you repay the loan? ... ', 'Does your business have the ability to make the payments required under the loan? ... ', 'Can you put up any collateral?']
1368949
['How long has the property been on the market?', 'What are the current offers?', 'Why is it on the market?', 'When was the property constructed?', 'Are there any management fees?', 'Is there any planning permission on the property?', 'What exact area/land comes with the purchase?']
295188
['“How is the company organized? ( Corporation, LLC., Partnership, Sole Proprietor)”', '“Have you had any E&O claims in the past 3 years?”', 'Just be prepared to explain (in detail):', 'Make sure any relatives you employ are on board with your decision to sell by asking them:', 'They want to know:']
62482
['How much is the rent and when will I have to pay it? ... ', 'Can I legally use the property for my business? ... ', 'Can I cancel the lease is my circumstances change unexpectedly? ... ', 'Who is responsible for repairs? ... ', 'Who is responsible for buildings insurance?']
610854
['Who are the founders, and what expertise do they have?', 'How is the business being funded? Who are the investors?', 'Does the product or service being sold have potential?', 'What is the longer-term plan of the business?', 'Are you ready to work in a startup?', 'Conclusion.']
553366
['How did you get your idea or concept for the business? ... ', 'What was your mission at the outset? ... ', 'When did you "charter" the business? ... ', 'How many employees? ... ', 'What service(s) or product(s) do you offer/manufacture? ... ', 'How do you advertise your business? ... ', 'How do you advertise your product/service?']
999507
['How secure is the deposit? ... ', 'Are there any deals available? ... ', 'Is the price fixed? ... ', "What's included in the price? ... ", 'When will the property be completed? ... ', 'How many units have been sold?']
1303616
['How Long Have You Been Trading? ... ', 'How Happy Are Your Customers? ... ', 'What Services Can You Offer? ... ', 'How Flexible Are Your Services. ... ', 'If I Need More Work From You, Do You Have The Capacity To Meet Demand? ... ', 'What Do You Charge? ... ', 'Is Insurance Included?']
1104608
['Are you interested in buying a beauty salon that is franchised or independently owned? ... ', 'What is the true value of the salon? ... ', 'How will external factors influence the success of the salon? ... ', 'Will the current staff remain? ... ', "What's your plan for the future?"]
59104
['Are you building for the future? ... ', 'Is the location safe? ... ', 'Is the office space adequately wired for your business and equipment needs. ... ', 'How much will furniture cost? ... ', 'How much will the rent increase each year? ... ', "What's included in the lease? ... ", 'Who handles repairs?']
1072400
['Should I talk to an accountant before I start my business? ... ', 'Do I need an accountant or would a bookkeeper be better? ... ', 'Are my records in a good condition? ... ', 'How much help do I actually need? ... ', 'Turning the tables…']