10 Questions to Ask Before Buying a Business
So you're considering buying a business. But is it really the right move?
Many experts are predicting that a huge wave of businesses will become available over the next   decade or so as baby boomers look to sell. As the economy continues its   climb into a full-blown recovery (we hope), it just might be the  perfect  time for you to fulfill that lifelong dream of buying a  business.  Before you take the plunge, however, you should take the time  to ask  yourself a series of questions that will help make sure you're  prepared  for the rigors of business ownership. Certainly the team of  advisers you  assemble to make such a deal—such as business brokers,  attorneys, and  accountants—can help you in determining the value of a  business and what  you should pay for it. But there are additional  questions you need to  ask yourself, and the seller, to find out if the  business you've  targeted is everything it's cracked up to be. With  that, here is a list  of 10 questions (in no particular order) that you  should get answers to  before buying the business of your dreams. 

1. Is buying a business the best decision for you right now? 
Perhaps the most important questions to start asking involve whether buying a business is a good fit for you, says Keith Emmer, principal at Startegix in New York City.   "If you're just bored or looking to try something, what happens when   you have to do the tedious tasks that every entrepreneur must do?" asks   Emmer. If that's the case, you might want to consider a hobby instead.
If, on the other hand, you see real  opportunity and have always  tended to see the world a little  differently than others in your  corporate job, owning a business may be  right for you. "At the same, you  should ask yourself if right now is  the best time to make the  commitment to buy if say, you're almost  vested in your retirement plan,"  says George Krueger, president of Bigg Success, a business education and consulting firm in Champaign, Illinois.   "It's probably a small sacrifice to get the full benefit of your   employer's contributions," he says. "You can use the time to get   prepared to buy a business."
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2. Will your spouse support you?
Owning   a business will affect your relationship with your spouse, in one way   or another, says Krueger, since both of you will need to make the   emotional and time investments that come from riding the entrepreneurial   roller coaster. "So your spouse has to be prepared mentally and   emotionally as well," he says. "If not, you may find that your biggest   challenge comes from home rather than your business." You need the   physical capacity to work long days, especially in the early days.