1. Why Are You Selling?
The answer matters.
Retirement is different from declining sales.
2. How Long Have You Owned It?
Long ownership can provide valuable history.
3. What Does the Owner Actually Do?
This determines owner dependence.
4. Who Are the Key Employees?
You need to know who actually runs the business.
5. Who Are the Biggest Customers?
Concentration creates risk.
6. What Is the Biggest Problem?
The seller knows.
Get them talking.
7. What Would You Change?
Sometimes the seller will tell you exactly where the opportunity is.
8. What Equipment Needs Replacing?
Deferred capital expenditures can eat your cash flow.
9. What Does the Lease Look Like?
Especially important for restaurants, retail and location-dependent businesses.
10. What Am I Missing?
This is one of my favorite questions.
Sometimes the answer tells you more than the first nine.
Michael Shea represents the Tampa Florida Transworld office. In business since 2005, he has established a reputation as a trusted business broker across Florida’s key markets- from Tampa to Orlando, Melbourne, and more. Over the past two decades, Michael and his team have closed over $1 Billion in sold business volume and presided over more than 476 transactions. His credentials include the IBBA Certified Business Intermediary®, and most recently, the prestigious Certified Exit Planning Advisor® (CEPA) credential. He is also a Florida Licensed Real Estate Broker and Business Brokers of Florida Board Certified Intermediary . Shea is a member of the VRMA and a recognized expert in property management and vacation rental management business sales