The most important question to ask when buying a business:
“Why are you selling?”
If you are considering a decision to buy a business, and you just so happen to have found the perfect opportunity this is an important question to help to ensure that you will be happy with your decision.
The broker will set up a meeting with the seller once you select a business you are interested in. This will allow you to speak candidly with the seller and find answers to your questions.
A critical question you may consider asking is, “Why are you selling”. Ensure you are comfortable with the answer, make sure it is honest and consistent. This will put you in a position to dive much deeper into the interview.
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“For many buyers, the process of purchasing a business is not familiar. A Business Broker will be able to help guide you through all the steps and intricate procedures associated with a business acquisition.”
Do you have small business questions you would like answered about this article or others? Please visit www.LibertyBusinessBrokersofOntario.com or call 519-903-7807.
William Sivell is the Owner/Broker of Record for Liberty Business Brokers of Ontario.