What do Buyers want to know?
Here are some questions that you might be asked and should be prepared to answer:
- How much money is required to buy the business?
- What is the annual increase in sales?
- How much is the inventory?
- What is the customer base? Any customer that produces over 10% of sales?
- What is the debt?
- Will the seller train and stay on for a period of time?
- What makes the business different/special/unique?
- What further defines the product or service? Bid work? Repeat business?
- What can be done to grow the business?
- What can the buyer do to add value?
- What is the profit picture in bad times as well as good?