A small catering business in your city is for sale for $250,000. The company specializes in business luncheons and small social events. The owner has been running the business for four years from their home. You will need outside investors to help you purchase the business.

Develop questions to ask the owner about the business and its prospects as well as a list of documents you would like to see.

What other types of information would you need before making a decision about purchasing this company?