I have seen and heard about people who would buy an already existing business and make it their own, while there are some who would buy and then grow it to a certain level then resell it again to someone else. Would you want to buy an already existing business or startup your own?
Would you buy an existing business?
- Thread starter eldavis
- Start date
I am not interested to buy a business which is already running. Because I don't know what is the main factor which is the cause of it's success, on the other hand if I start my own new business then I will better understand it's all plus and minus.
If the business is on good hand and if it have good reputations and have a lots of customers then i will consider to buy it after i study the market system of the business, because it is easier to buy a business that is already running than starting a new business.
There is nothing wrong buying an existing business but you will need to consider some certain factor you will ask if that business is moving if the business is doing well then you can go ahead and do that
True before considering to buy an existing business there must be some researches conducted on it to know some things about the busyness and also the profitability and the future of the business.
Those research will deliberate and entails if the foundation of the business is good or bad so buying an existing business is very good but you will need to conduct proper research on how the business work back then
True any business needs to be investigated and needs to conduct a good and detailed research before investing to buy the existing business,
Now I would not purchase any existing business, because I have realized that it is very difficult for a person with my background to run a business and make it grow. I also have powerful enemies who are always causing losses.
- Thread starter
- #12
That's just it. You need to first find out why the business is up for sales in the first place before you can decide if you should buy it or not. There are some business that is not worth buying, then there are some that buying it would be a hugh profit.
Buying an existing business sounds great to me. It is already set up and so I assume that there are customers and there is some stock to start with. But then, I will have to inquire really well about the profitability of the business, I would not want to buy a business that was sold because it is not really profitable.
