Question Details	Asked By	Asked On
want to buy a running business, but need HELP!!!!	netto	09/29/03
I went to business broker who gave me info on a few businesses that interest me. I went to visit them as a customer, and found one I want to buy. NOW what??? How do I know what the current owner says is their net profit each year really is? How do I know if the gross income is what they say it is? The expenses? The everything else you can imagine? I feel very intimidated by this process, and scared to even contact someone to ask. I don't know who to contact even. An attorney? What kind? An accountant? I haven't asked the broker, because I know he's working for the business owner. What do I do??? HELP...PLEASE HELP!!!! Thanks :D
Answered By		Answered On
wisestocks		09/29/03
You don't need an attorney or any titled Professional to figure this out. Just think logically. The main thing you need to do is ask for Audited Financials. These would be provided by the accountant or CPA who does their tax work/returns. They have to be authentic for the CPA has to sign them. You want them directly from the CPA themself or at least, the number to contact the CPA if you have any questions. If they aren't willing to provide any single piece of information as outlined above, then, move on. Something indeed isn't right. It is normal to ask for such. They know it and expect it. Unless they are up to something. If you still feel you need help I'd be happy to assist you as best I can from my locale. It really doesn't matter where you are located. It can all be done via phone, fax, and email. Check my contact information in my profile. I hope this helps. Thanks and good luck. WAS

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