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Daniel Surian's Blog

By Daniel Surian | Broker in Boston, MA

15 Questions Every Business Buyer Should Ask Before Buying

Most people have questions they need answered before making an offer and before hiring help to evaluate, audit or review the business. The most commonly asked questions are as followed:

  1. What information should I ask for?
  2. The broker wants me to make an offer before getting the financials? How can I do that when I do not have the financials to determine what I am willing to pay?
  3. They gave me the sales and profit numbers, for last year. Should I make an offer based on that information?
  4. The broker wants me to give him a non-refundable deposit check with the offer? Should I do that?
  5. Do I have to offer close to the asking price?
  6. The seller wants the deposit check made payable to him. How do I respond to that request?
  7. The seller wants me to pay him five times the last year’s profit. Is that a fair price to pay?
  8. Can I trust the information that the broker or the business owner has given me?
  9. I am being pushed to make an offer with limited information. What do I do or say?
  10. Does the broker work for the seller or for the buyer?
  11. What do I do if the broker is acting like he works for the seller?
  12. I realize that I do not have a clue as to what I am doing but I want to buy a business, what do I do?
  13. I have been looking for a business on the web and working with business brokers but I cannot find what I want. Now what do I do?
  14. I want to find a profitable business to buy but I am not sure what is a good business to go into. Can I get help?
  15. Is there anyone I can rely on to be 100% on my side and always tell me the truth? If there is, how do I contact them?


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Daniel Surian
BizSold
Business Brokers
142 Cambridge Street
Boston, MA.02129


Written By Willard Michlin-CPA

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