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#1 08-11-2019 10:23:27

lisasmith
Member

Questions you should ask before buying a business

Buying a business or business takeover is generally cheaper than starting one, there are the lot of advantages that you get when you buy a business rather than starting it from scratch such as existing customer base, working marketing strategy, already hired employees, easy financing and avoiding regulatory approvals etc.  Following are the questions you should ask before buying a business.
a) What exactly business do for its customers?
b) When was the business started and how has it grown over the years?
c) Who are the business owners?
d) Why are the owners selling the business?
e) Who are the competitors are how does the business differentiate itself?
f) Does the brand have a bad reputation?
g) How much money does the business generate?
h) What is the gross revenue, profit and cash flow?
i) What are the biggest expenses for the business?
j) What is the business's worth?
k)What are the shortcomings in the current business strategy?
l) Do they have audited financial statements?

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