All business brokers should be able to answer the questions below regarding their businesses for sale. If the business broker can't answer one or more of these questions then walk away - this is probably a business for sale that you don't want a part of. Whether you are an owner looking for a business broker to sell your business or a business buyer reviewing businesses for sale - be careful

Some other important questions to ask the business broker about the businesses for sale...

• Why is the owner selling - have them explain - it is your business
• How was the business priced and can the business broker back it up?
• Is the seller willing to hold a note - and for how much
• If applicable, can the business broker help in finding outside financing
• Is the seller willing to train, and for how long
• Is the seller willing to sign a non-compete agreement for at least 2 years and 20 miles
• If there a lease in place that will be assigned, is it assignable 
• Are there 3 years of tax returns or financial statements available
• Is the seller willing to allow a third party inventory/equipment audit as part of any offer
• Is the seller willing to allow a window of opportunity to verify tax returns with the government

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