Private buyers
What questions should I ask the sellers at a first meeting ?
- Why are you selling?
Commonly stated reasons for selling include a well-earned retirement or maybe failing health – both of which may ring true. However, if the seller is getting out because there’s some new competition on the horizon or because there’s been a downturn in trade, you’ll want to find out as much as you can. How do you know they’re telling the truth? Well, you don’t but most people don’t make a decision like this overnight – if the business has a solid history and a profitable future, the owner should be able to provide you with a timeline for their preparation for sale.
- If a specific asking price has been