DO YOU LIKE BUYING A BUSINESS OR STARTING FROM SCRATCH?

Desireu30b

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• Aug 11, 2023

• #1

If you would ask me i will say i would love to start my business from scratch. Here are some reasons;

Starting a business from scratch or buying an existing one both have merits. Starting from scratch offers creative freedom and tailored vision, but requires more time and effort. Buying an existing business provides a foundation and established customer base, but might come with legacy issues. The choice depends on risk tolerance, resources, and goals.
Starting offers innovation; buying offers quicker entry.
You need to Evaluate pros and cons to align with your entrepreneurial journey and market opportunities.

 

Hate2Wait

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• Aug 12, 2023

• #2

It is better to plan out things and we cannot decide like that if we should buy an existing business or should start from scratch although starting from scratch is not easy

 

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Springtime

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• Aug 12, 2023

• #3

There are pros and cons. I may consider buying a business if it has good reputation and have a loyal customer base. I may just add some new products to sell and make the necessary improvement to expand the market. If I start a business from scratch, it takes more effort, but I can be more innovative in branding the products I sell and the experience may be more rewarding.

 

oldbuddy

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• Aug 12, 2023

• #4

Desireu30b said:

If you would ask me i will say i would love to start my business from scratch. Here are some reasons;

Starting a business from scratch or buying an existing one both have merits. Starting from scratch offers creative freedom and tailored vision, but requires more time and effort. Buying an existing business provides a foundation and established customer base, but might come with legacy issues. The choice depends on risk tolerance, resources, and goals.
Starting offers innovation; buying offers quicker entry.
You need to Evaluate pros and cons to align with your entrepreneurial journey and market opportunities.

Click to expand...

Don't overlook getting one for free with the option to modify anything you want to make it your own. Then you get the best of both worlds with no financial burden to slow you down.

 

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Bisolami

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• Aug 13, 2023

• #5

Buying a business is actually not a bad idea but I will just prefer to start my own business and give it the name I like
I just prefer to start my own thing.

 

kirubel

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• Nov 7, 2023

• #6

It depends, for a starter and for a person who is new to a business and investment world its recommended to buy a business that is already running, when i say buy i don't mean the whole business i mean a stoke market after that we will get an experience then we can start our won business.

 

eldavis

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• Nov 8, 2023

• #7

I would need to have tried both before i can actually decide on which is better. I have only started a business from scratch once, which is my current business. Though both have their advantages and disadvantages.

 

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Fidelia

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• Nov 8, 2023

• #8

I prefer to start a business from scratch so that I can instill my identity into that business. When you buy a business, you are working on another identity which might take you a long time to rebrand.

 

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olaniyi

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• Jan 23, 2024

• #9

Actually it depends on the look of the business I want to buy if it is a business that has grown and I am sure it will yield me any amount I bought it then I will prefer buying business

 

SHAHID987

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• Jan 23, 2024

• #10

There are many benefits in buying a running business, as each and everything remain settled there. One of the most important thing here as we don't need much time to aware the customers. They are already aware from your business location. So on these aspects I would like to get an existing business.

 

eldavis

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• Jan 24, 2024

• #11

Fidelia said:

I prefer to start a business from scratch so that I can instill my identity into that business. When you buy a business, you are working on another identity which might take you a long time to rebrand.

Click to expand...

That's true, starting a business from scratch does have its advantages but so does buying an already existing business. The best thing is to just know what you want and go for it.

 

Starmix

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• Sep 8, 2024

• #12

It's a no for me doing business from a scratch. I may lost my face because of pride.

 

Niyi Briggs

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• Sep 9, 2024

• #13

I started my business from scratch and I enjoyed the fact that I set it on a path that I absolutely want from the onset.

 

Shavkat

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• Sep 10, 2024

• #14

If I have a lot of money, I prefer to buy an existing franchise of a business, such as McDonald's, KFC, etc. It is because they are well-established businesses now.