1. Average business(even sole proprietorship)needs state license or city permit;
2. request last 3 years of tax returns to verify his business income;(if you don't know how to read tax returns then hire a CPA)
3. Does this business based on his personal skills or you can take over and assume the revenue with existing setup?
4. Any lease? Assumable? How many years left? Are you confortable and confident to stay profitable assuming everything stays the same?
