Best way to verify their book: go to a store across street from them, then count how many people go to there for a day. And for a week. Then calculate how much revenue they have. Deduct the equipment depreciation, water, electricity, repair, insurance, worker (if you have any, large ones do), rental (if you don't own the building), maybe what ever license from city.
I can't think about any business that can go without insurance. You need liability (if somebody fall and injured), fire, theft, burglary at the minimum.