Dedicate substantial time to investigating the business you intend to acquire. Additionally, analyze other companies in the same sector, mainly focusing on local competitors to understand the competitive landscape in which employment contracts are in place. You may have several staffing obligations when taking over a trading entity. It’s important to know what these are. Who will your customers be?
This is one of the most straightforward but essential intelligent questions to ask when purchasing a business. Declining revenues don’t necessarily have to be a red flag, but you’ll need a solid plan to arrest the slump. Do sales follow a seasonal trend? Some businesses experience dramatic peaks and troughs throughout the year.
