Running their own business is one of the ultimate goals of many people, especially those who have been tired working for companies, organisations and private individuals and wants to become their own boss. For some, with their bright business ideas and adequate resources, they start their own venture. Meanwhile, there are some who decide purchasing an existing business from other person.
Should you start a business from scratch or buy an existing business? It may not be more often, but some entrepreneurs opt buying an existing company rather than building a new one. There is the benefit of immediately obtaining a customer base and market. The business is already up and running and the market and brand image has already been established, saving the buyer a lot of time and money. Furthermore, financing is usually easier to obtain for a business with a proven track record.
The most popular advantage of purchasing an existing company is that you’ll usually get instant cash flow. The company is likely to be profitable when buying a business. When you start a business from scratch, profitability and cash flow may take quite some time to achieve, if at all.
However when buying an existing business, it is important to know why the owner is selling it, how it might affect you, and whether or not it will suit you.
So, should you buy or build a business? Find the answer out by reading this article: https://au.smallbusiness.yahoo.com/growing/a/-/30823587/should-you-build-or-buy-a-business