There are many reasons to buy an existing business versus starting one. Stepping into a known commodity may be especially advantageous during a pandemic.
Buying a Business Vs. Starting a Business
There are advantages and disadvantages to buying an existing business or starting a new one. Carefully weigh them against each business you consider in order to help you make the best decision.
Buying a business gives you many advantages over starting one. A proven concept, brand recognition and a history of cash flow are a few of the important ones.
Buying a business is like starting a business, but with a big head start. The advantage you'll gain may make up for any difference in cost.
Buying a business avoids many of the challenges of starting a business from scratch. A proven business model is worth its weight in gold.
If you think buying a business sounds expensive, try starting one.
Want to spend a bunch of money and wait several years to get it back? Start a business. Want to spend a bunch of money and see an immediate return? Buy one.
The greatest advantage in buying an existing business is a financial track record you can take to the bank. Startups can be exciting, but they have their own set of financial risks.
One very good reason to buy a business instead of starting one is that it is usually easier to borrow money to buy an existing business that has positive cash flow.
It's a good idea to list the pros and cons of buying a business versus starting a business. It will help you evaluate your tolerance for risk