ENTREPRENEURSHIP

Detailed explanation-1: -Buying an existing business is exactly what it sounds like. The buyer typically takes over full ownership of the business. The largest advantage is having an existing blueprint that can include important factors like an established customer base, defined operating expenses, and fully trained employees.

Detailed explanation-2: -Buying an existing business is considered a low risk investment compared to starting your own business from scratch. With a new company comes the costs of real estate, hiring new employees, education and training, equipment, furniture, marketing, and more.

Detailed explanation-3: -On the downside, buying a business is often more costly than starting from scratch. However, it’s often easier to get financing to buy an existing business than to start a new one. Bankers and investors generally feel more comfortable dealing with a business that already has a proven track record.