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Buying a business for the first time!

I'm looking for questions and documents I should be asking for and looking at when talking to the owner/broker of the business. Anything will help iv worked in the restaurant industry my whole life, this is my first step in ownership.

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The BAF Group LLC

The Lease's Rate and length, including any options to renew? The COGS? Staff expenses as a percentage of Revenue? How long have they been there? How long under this owner? Longevity of each staff member? Three (3) years of Tax Returns - and are they true? YTD Financials for 2013? Too many things to mention here, and even when you collect the information, how do you analyze it? If this is your first time and you don't know what to ask, you need to get a CPA you trust to look it over, at the very least.

Oct 23, 2013

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