What - Questions To Ask When Buying A Small Business

Long-term staff hold the "institutional knowledge" of the company; their departure could be a major blow. 3. Strategy & Market Position

You need to know exactly how the business runs on a daily basis and what you are actually "buying." what questions to ask when buying a small business

Ask about their marketing spend and whether they rely on word-of-mouth or paid advertising. Long-term staff hold the "institutional knowledge" of the

Sellers often add back personal expenses (like a personal car or travel) to show a higher profit; you need to see if these are legitimate. what questions to ask when buying a small business

If the business is brick-and-mortar, ensure the lease is transferable and check for any upcoming rent hikes.