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WHY DO THEY WANT OUT?

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If this business is so good, why is it for sale? Maybe a legit reason exists such as owner illness, the owner retiring or a marriage break-up.

On the other hand, maybe the reason is more sinister such as a major shopping plaza about to open up next door, a highway about to carve through the town or a lease that isn’t likely to be renewed. Maybe the business has never been that successful in the first place.

Ask the owners why they’re selling and what they plan to do next. Don’t be shy to ask around — does anyone else know the owner? Check out whether any similar businesses in the area are for sale (maybe that proposed highway is going to flatten them all).

Sometimes it takes a wee bit of digging to get to the bottom of why someone is really selling, but until you’re truly sure of the reason, I recommend you hold back from making an offer to purchase.

Small Business for Dummies

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