When a buyer reaches out about your business listing, it’s easy to get excited, and you should be! But not every inquiry is worth your time.
Before you hand over your financials or schedule a call, you need to know if the buyer is serious, qualified, and a good fit. That’s where buyer interview questions come in.
Think of them as your filter, a quick way to separate the tire-kickers from the true contenders.
💬 Why Interview Buyers at All?
Selling a business is not like selling a used car. You’re not just handing over keys, you’re transferring relationships, operations, and years of hard work.
The best buyers will understand this. They won’t be offended if you ask a few questions up front. In fact, they’ll respect that you’re running a tight, professional process.
🎯 What You’re Really Trying to Learn
Your goal isn’t to grill anyone, it’s to understand three things:
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Are they financially qualified?
Can they afford your asking price? Are they pre-approved for SBA financing or bringing cash to the table? -
Are they motivated and ready to move?
Some buyers browse for years. Others have a 90-day timeline. You want the latter. -
Are they the right fit for your business?
Do they have the experience, temperament, and interest to carry it forward?
📝 Smart Questions to Ask Potential Buyers
Here’s a short list of non-invasive, professional questions you can ask early in the conversation:
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What’s your timeline for acquiring a business?
(This tells you how serious they are.) -
Have you bought a business before?
(First-time buyers may need more guidance — or more time.) -
Are you looking to run the business day-to-day or hire a manager?
(This helps gauge alignment with your current operations.) -
Are you working with a lender or planning to pay cash?
(If SBA is involved, they’ll need strong financials and a good credit profile.) -
What industries or business types are you focused on?
(You’re looking to see if they’ve done their homework — and if your business fits.)
How to Move Forward
Once you’ve screened the buyer and received a signed NDA, then you can:
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Share a one-page business summary
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Schedule a discovery call
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Begin guiding them through next steps
If they’re not responsive or vague in their answers, that’s a sign to wait before sharing more.
Need Help with the Buyer Conversation?
You’re not alone. Even if you’re listing your business yourself, you can still reach out to our team for guidance.
Got a buyer question you’re unsure how to answer?
Shoot us an email at info@bizflipexit.com — we’re happy to help.