There are a lot of things to consider when buying a business. But in terms of financial health, these are some of the things to consider:
1. The income statements and balance sheets from the past years (commonly 3 to 5 years): to check how healthy the flow of cash is
2. The income tax returns for the past years (commonly 3 to 5 years): to check if there are no discrepancies in relation to government mandate tax
3. The compensation of the owners and that of the relatives: to determine the balance or to check if there is reasonable amount of compensation