Question

Is better to buy a business or start a new one ?

5 months ago - 2 answers

Best Answer

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It's "easier" to buy an existing business, but only if you intend to keep the same tenor of their existing operation. If you have a different scheme than the existing employee culture, that may effect the customer service component, and consequently, the customer base and resulting sales. Your furniture and fixtures may need updating. It's kind of "not your place" for a little while. On the other hand, any goodwill earned to date can be taken advantage of, and lowers your cost of acquiring those existing customers.

A new business has all of the benefits of being your own thing, but your startup costs are higher, local business permits may require annoying approval procedures, and initial inventory is exhausting to source. Customer acquisition cost is relatively high, and in a market with good competition, the lowest cost producer (or supplier of a service) usually is the last man standing.

5 months ago

Other Answers

I would think it would be easier to buy a business and start that way..
Starting a new business would be better though because it would be considered your very own and you start 100% new.

by Dana - 5 months ago