OwnerPath buyer guide

Questions to Ask a Business Broker

Ask short, evidence-oriented questions before negotiating against yourself. A broker’s answer helps you decide what to verify next.

Financial claims

• What source documents support revenue and seller cash flow?
• Which addbacks are included, and what supports each one?
• What changed materially in the last 24 months?
• How much working capital is normally needed?

Operations and owner dependence

• What does the owner do each week, and how many hours?
• Who manages staff, customers, pricing, and key suppliers?
• Which licenses, contracts, or relationships may not transfer?
• What capital spending is expected soon?

Customers, employees, and lease

• What percentage of revenue comes from the five largest customers?
• Which employees are critical, and are wages at market levels?
• What are the lease term, options, assignment conditions, and occupancy cost?

Process

• Why is the owner selling, and what transition is offered?
• What proof is available after an NDA?
• Has a lender reviewed the deal? Under what assumptions?
• What offers or deadlines actually exist?

Do not send a giant checklist without context. Start with the facts that could change your call/request-proof/reprice/walk-away decision.