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What are important questions to ask when buying a business?

I'm hoping someone can get me started. I've contacted a few sellers and brokers, but when it comes down to making any decision I'm at a loss. Unless there are just knock-out margins, I don't really know what to look for. Can someone provide me with the top questions to ask when buying a business? Thanks!

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Answers (3)
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Franchise Advisory Group

JP, Please read my blog on the subject, it may answer some of your questions:

Apr 4, 2009
Fayaz Karim, MBA, CA
Subway Valuations, Business Searches
Orange County, CA

Look at my Business Plan and Business buyer questions page on my website. All answered there for you

Fayaz Karim, MBA, Ca

Apr 3, 2009
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Owner of ABC EXPERTS a liquor license consulting company
Los Angeles County, CA

JP, I specialize in any business that has a license to sell liquor (restaurants, bars, liquor stores, stadiums) . If you desire to purchase any of the above-mentioned businesses, I highly recommend that you ask the following questions:

Prior disciplinary action (the regulatory agency will provide this information)
Special Conditions on the License
Very that the seller is indeed the licensee holding the license (I have a couple of war stories on this alone)
Any restrictions imposed by the government on the transfer of that license

Mar 28, 2009

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