Thinking About Buying or Selling a Business?

Here are EXTRA qualification questions serious buyers and sellers should answer before moving forward.

What type of role would you want the current owner to play after the sale
Which industries are you most interested in acquiring a business in?
Are there any industries you are not interested in? If so, why?
How important is growth versus stability in the business you want to acquire?
How comfortable are you with managing employees or leadership teams
Do you have any geographic preferences for where the business is located?
How will you define success in the first year after acquiring the business
What is your biggest concern or hesitation about buying a business?
Will you be purchasing the business alone or with partners? Please explain.
What factors could prevent you from moving forward on an otherwise strong opportunity?

Seller Readiness & Exit Qualification Questionnaire
What is your primary reason for considering the sale of your business?
What is your ideal timeline for exiting the business?
How involved are you personally in the day-to-day operations of the business?
How would you describe the current state of your financial records?
How has your revenue and profitability trended over the past three years?
What is the approximate annual profit of the business?
If you were no longer involved in the business, which sales or revenue would
stop or be reduced due to your personal involvement? Please describe the type of sales you personally handle and their approximate contribution to revenue.
What concerns you most about selling your business?
Are you open to staying involved during a transition period after the sale? If so, for how long?
Beyond price, what matters most to you in a successful exit?