My boss offered my friend/coworker ownership of the business. What questions do I need to ask?

I (25F) am going to be working with my coworker to take over a small, service based business. All 'employees' are independent contractors. I have been working for her for a year now.

About me: I am working already to get my bachelor's in Business so I will have that under my belt. I am curious of specific questions I should ask or information I should get from the current owners outside of standard operating procedures and financial statements.

Thanks in advance. I can answer any questions you may have as they come up or I obtain answers. Posted from mobile so sorry for any errors.

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