A Few Reasons You Should Consider Buying a Business Over 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.
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
When you buy an existing business with a proven track record you are buying an existing cash flow with proven services to a known market. If you run it at least as well as the seller, it pays for itself.
Buying a business can be like starting a business with a big head start. You will put your own personality into it, but don't do it before you let the business teach you what it knows.
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