Originally written by Jo Thornley on Small Business
After years of hard work, you will probably be on the lookout for the best buyer possible when you’re selling your business.
Spending time on preparing your business for sale is one way that you can do this; another way is to know what questions to ask interested parties.
It is usually the buyer that comes with the right kind of questions to ask. However, if you are prepared, you can have a list of questions yourself so that you can easily spot the serious buyer from the window shopper.
So, if you’re thinking of selling up, read these pointers of what to ask a potential buyer.
1. Why are you interested in buying?
Asking a direct question such as this one will help you to quickly understand the buyer’s intentions. For example, if you are running a marketing agency and they have years of marketing experience, they might be looking to go out on their own. Or, they could be hoping to acquire your business in order to expand their already existing agency.
In both these cases, however, they should be able to approach you with a considerable amount of information as to their plans for the business.