10 Questions you must ask before buying a business
10 Questions You Must Ask Before Buying a Business May 20, 2015 by Michael Shea PA 10 Questions You Must Ask Before Buying a Business 10 Questions You Must Ask Before Buying a Business 1. What are your biggest challenges right now? You want be aware of potential minefields. For example, if you’re buying a company that will need $1 million in capital improvements, you need to learn that upfront while you’re still negotiating the purchase. 2. What would you have done differently? This question can get the owner talking about opportunities he didn’t pursue but would have liked to. This question could help you learn how much growth potential the business offers — from untapped markets to additional product lines to new marketing opportunities. 3. How did you arrive at your asking price? Often, sellers will base their asking price on arbitrary factors such as how much money they’ll need to move on with their life. Find out what quantitative information they ha...