Buying a Small Business

Some people lost their motivation after dealing with business startup problems and think that buying an existing business is a simpler and safer alternative.

Advantages of buying a small business

• The main advantage of buying an existing business is the drastic startup cost reduction (time, money, and energy cost).
• The business has preexisting customer.
• Easier financing opportunities if the business has a positive track record.

Disadvantages of buying a small business

• The initial purchasing cost can be very high
• Hidden problems in the business (can be avoided by doing a good research before purchasing the business)