20 Questions When Starting A Business

Blume Law Firm, P.C. Buy/Sell/Merge Businesses
  1. Why are you starting a business?
  2. Is this a new business or a conversion of an existing business?
  3. Will any of the owners be business entities rather than individuals?

  4. What is the nature of the business?
  5. How long are you planning on being in business?
  6. How long is the company going to last?
  7. What are the profits and losses of the business expected to be?
  8. What are the capital requirements of the business, both initially and on an on-going basis?
  9. Will the owners be involved in the business or just investors?
  10. Will the owners make different contributions to the business?
  11. Will there be loans to the business from the owners or others?
  12. What will be the relative income tax brackets among the owners and the entity?
  13. What is the overall wealth of the owners?
  14. What is the family status of the owners?
  15. Where is the business located?
  16. How are the owners paid and what is the expected compensation?
  17. Will the owners receive distributions?
  18. Will there be restrictions on the transfer of ownership interests?
  19. What is the form of management?
  20. What are the exit strategies for the owners?