Why is this business for sale?
Are the company’s revenues rising or declining? If declining, what is needed to improve them?
What is the company’s financial status? Ask for financial statements of the last three years (Profit and Loss statements and income tax statements.)
What current debts does the company have? Are there any liens against the business?
Is this business an Owner-Operator or an Absentee Owner?
How many employees do you have?
What is the target market for the business? Is that market growing, stable or shrinking?
Does the business rely too heavily on a few key customers? What would happen if those customers left?
What marketing methods does the business use? Which are most and least effective?
Does the company own or lease its location(s)? What are the terms of the lease? Can I take over the lease where you left off or do I renew it? How much is the lease per month?
How many square feet is the business?
Does the business own or lease its equipment?