Before purchasing a business, the bank needs a commercial survey. What exactly are the surveyors looking for?
2007-03-17 03:50:21 · 3 answers · asked by Jackie B 2 in Business & Finance ➔ Small Business
Someone is buying my place and are sending someone to do a commercial survey. Wanting to know what to expect...
2007-03-17 04:04:00 · update #1
They may like to know about your business plan , profit margine and viability of your business in this competitive environment.
2007-03-24 00:26:50 · answer #1 · answered by Indiannnnn 2 · 0⤊ 0⤋
The Surveyors will need to look at several factors such as (not exhausted):
1) Business strategy
2) Past financial statements/patterns
3) How much cash on-hand
4) What are the potentials for the business to grow
5) Any other debts
6) Who runs the operation
2007-03-17 10:55:32 · answer #2 · answered by SGElite 7 · 1⤊ 0⤋
You might be asking for a loan from a Bank who, in their wisdom, are keen to know what future you have in terms of catchment or service to the local neighbourhood. It's like a Business Plan that I'm sure they asked for to be able to offer you the loan.
2007-03-17 10:57:30 · answer #3 · answered by MANCHESTER UK 5 · 0⤊ 0⤋