I would like to know if I can view the financial statements of a local business to research possibly openeing my own, similair business in another town? Is this public information that they report or is it private? If its public info, where could I view it? Thanks in advance.
Is there a way to look at a local business financial statements?
Best Solver (Answer):
Answer by EA
Company financial statements are only public if they are a publicly traded company (on stock exchange). If they are a public company you can probably find all the info you need online. The company website is one place to start (look for an investor relations tab), or you can probably find them on a number of financial websites, www.finance.yahoo.com is a good one to start with. From the sounds of things though it would appear that they are a local private business, and private companies are not required to reveal their financials, however, you could always ask talk to the business owner. If you are serious about opening a new business it would be in your best interest to get as much background information as you can. Meeting with another business owner would be extremely valuable, and more than just to get a glimpse at their financial statements (This is one of the benefits to opening franchises). As long as your business is not going to be directly competing with that company, it is at least worth a shot to ask if the owner will talk with you. If you are nice and courteous you might be surprised what they agree to. I’m not sure if they would immediately agree to show you their books, but they can offer even more valuable information for you, and can probably give you some ball park revenue and expense numbers at least. Anyway good luck to you…