DO YOU LIKE BUYING A BUSINESS OR STARTING FROM SCRATCH?

Desireu30b

Somewhat Known

Member

Jan 9, 2023

676

34

Dex

$0.000

Raw Dex

$0.000

• 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

Very Familiar

Member

Jun 16, 2022

24,954

2,500

Dex

$0.100

Raw Dex

$1.481

• 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

 

S

Springtime

Well Known

Member

Dec 22, 2022

7,929

294

Dex

$1.340

Raw Dex

$0.105

• 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

Notable

Member

Sep 13, 2022

1,098

185

Dex

$0.000

Raw Dex

$0.000

• 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.

 

B

Bisolami

Very Familiar

Member

Sep 19, 2022

17,833

1,539

Dex

$0.000

Raw Dex

$0.078

• 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

Somewhat Known

Member

Oct 30, 2023

818

36

Dex

$0.000

Raw Dex

$0.000

• 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

Very Familiar

Member

Sep 4, 2022

15,144

665

Dex

$0.000

Raw Dex

$6.776

• 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.

 

F

Fidelia

Notable

Member

Oct 28, 2023

2,428

36

Dex

$0.010

Raw Dex

$0.743

• 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.

 

O

olaniyi

Unfamiliar

Member

Jun 10, 2023

470

15

Dex

$0.000

Raw Dex

$0.000

• 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

Notable

Member

Nov 15, 2022

3,951

228

Dex

$3.925

Raw Dex

$0.034

• 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

Very Familiar

Member

Sep 4, 2022

15,144

665

Dex

$0.000

Raw Dex

$6.776

• 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

Popular

Member

Sep 2, 2022

30,212

3,702

Dex

$5.100

Raw Dex

$0.402

• 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

Well Known

Member

Nov 27, 2022

7,835

318

Dex

$0.000

Raw Dex

$0.200

• 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

Very Familiar

Member

Sep 7, 2022

13,631

947

Dex

$0.515

Raw Dex

$0.003

• 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.