A Small Business — What Questions To Ask When Buying

Determine if the business is struggling to collect money or if it owes significant amounts to suppliers. 2. Operations & Infrastructure

Assess the future potential of the business and the competitive landscape. what questions to ask when buying a small business

If the owner is the primary salesperson or technician, the business might fail once they leave. Determine if the business is struggling to collect

Clarify if the sale includes inventory, real estate, intellectual property, equipment, and cash on hand. If the owner is the primary salesperson or

This includes employment disputes, tax liens, or product liability issues.

Buying a small business is a significant investment that requires thorough due diligence to uncover hidden risks and confirm the value of the asset. The following report outlines the critical questions you should ask a seller, categorized by financial health, operations, and the reason for the sale. 1. Financial Performance & Health