Topic: Would you rather start/grow a business from scratch or buy an existing business? - page 7. (Read 1625 times)

It could be franchising or buying the whole business from someone who doesn't want to work with this anymore, or who is going bankrupt.

Anyway, franchises are risky investments if you aren't certain your area has the right public for that kind of business. As an example I could mention a fast food network like MC Donalds. It's very popular worldwide, hardly ever you will find someone who doesn't like it, however, it's not a sustainable franchise for every regions, especially where there are less residents, because it's expensive and demands a high and constant flux of people to be profitable, considering the license's costs, which are huge.

So for someone willing to work with fast foods in a isolated region, the only viable alternative is to start a business from zero, instead of going for a franchise.

You mean franchising?

If that's the case, it's better as long as you have the money, since it's much expensive than starting your own business. Just make sure that you're going to build your franchise on a sweet spot where people could easily access it. But if you don't have enough funds to buy a franchise, just start your own business, build a solid business plan, and never give up because starting a business is hard.

You're going to experience days, weeks, even months without any sales because people still don't know your products, that's why you have to be wise on how you will sell your products or services to people.

Actually, I think it depends on the business opportunity that you will start and the funds you have. But, I think it's better to start a business because from there we can learn to promote a business, can start a business with preferred interests, and if you start your own business you will feel more enthusiastic because you are struggling to develop a business from zero.

Buying a business is a very difficult thing to do if we have never run a business, as you said building a business with our own ideas will certainly be very satisfying compared to buying a business. In buying a business, of course, we really need to know in detail about the business so that we don't experience losses after buying it.

Making decisions like this is a dangerous one and buying an existing one still depends on the type of business, and also if you buy an existing business you don't have an idea about it, might be difficult to manage, and might lead to bankruptcy, and if you are confidence about your idea why not work on them, so the question, As you noted, this depends on the individual and there are many difficulties in running a business today, including the impact of inflation. Therefore, when making decisions like this, many variables must be taken into account before deciding what part to take, are busy or you building.

Buying stocks would be the first step that we can do if we can't buy a whole business especially if we're pertaining to huge companies. As for me, if I would be given a chance, I would rather start and grow my own business from scratch so I could build it up based on my own plans and business strategies. A small business that grows in time is so fulfilling. I would love to see the fruits of my labor and hardwork without relying on the previous business owner's ideas and business flow. Even if it's just a small businesses, growing and generating profit from it even if it takes a long time is a bug fulfillment and achievement.

People like us certainly can never afford to buy a company because there will never be enough money available, but all we can do is buy stocks like you said. To sustain life's needs is also difficult in the midst of unstable economic conditions, how is it possible that we can buy a company whose price cannot be calculated by the amount of income we earn every day. Even if we save in a few years it is not necessarily enough because buying a company is not an easy matter to provide as much money as the price.

I prefer to run a business that sells basic needs in the midst of today's economic conditions, because developing a business buying and selling basic needs is a promising potential because people inevitably have to meet these needs, even though the economic conditions are not so stable which is affected by the recession.

Buying an existing business does not automatically mean that the business will still be successful when it gets handed over to you. One of the pros in buying a business that is already thriving is that there are already policies, processes and standards in place. You'll just have to figure out if you will need to implement new ones or revise the existing company manuals and think of strategies for the future. However, you should take note that when buying an existing business, the previous owner or president has for sure established a good relationship with his stakeholders because no man can build an empire alone. If you takeover, consider the factor that you may experience retaliation for the new management. The previous owner might also have a different vision than you that's why it's important to maintain a good relationship with the previous key personnel of the business. Never burn bridges.

On the other hand, when you grow a business from scratch, you should be prepared with regards to the bumpy road ahead. You'll basically have no day offs if you want to seriously work on establishing your business because if you don't do something, the business will also be idle. You'll have to get your pocket ready for the capital or gather investments because money is the number 1 need in a startup. You will also have to learn a lot - even things that are out of your expertise. Prepare yourself for a lot of reading and do your research diligently beforehand. The positive aspect of growing your business from scratch though is that you'll gain a massive amount of knowledge and you will be very hands on that you will be in the loop in everything. Nobody can ever fool you when it comes to your business. The best thing that will come out of it is of course the joy and pride that you'll get when the time comes that you witness the success of the business that you built out of your own blood, sweat, tears, and money.

The decision to create a business from scratch or to purchase a device project is a personal decision that depends on the individual needs and goals of each person. However, the advantages and disadvantages of each option can generally be summarized.
Investors who buy ready-made projects begin to reap profits from the first day, especially if they are sufficiently familiar with their customer base, and an existing project can obtain financial support for expansion or to overcome a crisis. The biggest risk in this context is that you buy a project that is not successful enough, or that its defects that made it fail do not appear to you while making the purchase. It is always preferable to find an answer to the question, "Why does the owner of the project want to sell it?"
With regard to starting a new project, the risk ratios are slightly higher, especially with greater difficulty in obtaining financing, in addition to the fact that building a successful project requires great effort and a long time to achieve it. The most important advantage is that you have complete control over all the details.

Starting your own business has a lot of challenges and struggles to overcome. While the chance to succeed is not yet even certain. That’s why I would not take this option but rather just settle on buying an established business which for me is already an advantage. At least, you will not bother anymore thinking how to make your business work but on how to make it expand and continue to take the lead in the market. Looks easy but it takes knowledge and skills to make its success long lasting.

I will jump at buying a business rather than starting a business from scratch. Business is not easy tp run even to the level that it can be sold. There is a lot of hustle for customers, niche etc. But when you buy an already existing business, you are just moving in to become the owner of a business that already has a good clientele and known. Entering as a new owner, you will just have to make little adjustments to some old policies by the former owners, and the business is good to continue. When you buy a business, you can start making profit from the business to recover your money as soon as possible.

There are only two options on it that most likely will happen: the owner can't deny the proposal because there is huge money involved, which means that if a person buys that, he can earn huge money to start another business or even multiple ones, and the second one is that the owner of that business sees that his business is not worthy now or anytime it goes down. But the first option, which is mostly what is happening right now, is that they can't turn down the big offer if the person wants to buy it.

The most important reason why someone start a business is to earn profit, if the owner willing to sell his business, it's mean the business is failure or not making a good profit. Why the owner want to sell his business if he can make a lot profit and expand his business? it's not make sense right?

That's why, when someone want to sell something where it's related with making money, you're need to be very very careful.

True, a tough challenge if we buy or continue an existing business is that many people feel they are in control and sometimes it is difficult for us to control, companies that are being sold usually experience complex problems from production to marketing, making a new business is of course better so that all control is in our hands.

In my opinion, it would be better for someone to establish a business from scratch because there are some teams that are already experiencing decline in their businesses. If you continue with these teams, your firm may fail.However, if you start and expand a firm on your own, you'll be able to control it and all of its beneficial aspects, including its clients and employees. If a company meets the requirements for the stages of production, growth, maturity, and decline.Products may be in a stage of decline and then return to a stage of growth.We must all believe that expanding a business is preferable.

I think if you have enough money you can definitely start a business from which you can make good profit. There are many businesses where if you buy or start a new business on those sites it will be bright for your future. But if you take a step like the richest man in the world Elon Musk's who bought a popular social media like twitter, then it will be wrong. If you really want to brighten your future in the business field then definitely consult an experienced person who can give you good suggestions. But I'm not that much experienced in business so I can't give you very good advice, but if you have more money then you can do a shopping mall which can boost your future. Moreover, if you are thinking of starting a better or better business, then take the advice of a professional businessman, he will definitely give you a good advice and start the business accordingly.

Are business from the start and existing business really equally difficult? With existing business you already know what previous owner did well and what he did bad, and you are able to foreseen the future of it. With new business you have to pass all stages yourself. And most important, existing business can already have passed the point when you no longer work with a loss, with new business you already starting with a loss in the end of the month, because you have spent money on equipment for example, and in addition you need to train your staff and make them experienced.

I think all of these have the same direction and goal, which is to increase the passive income of business owners and to be sure it all depends on our priorities and choices and of course both have pluses and minuses that need to be considered in the end.

The choice you mentioned above does have its own advantages, one of which is Low Conflict Potential because in a self-managed business there is an emotional bond between your company and the target market. Well, the drawback is that we have to build our own reputation in building a product reputation from scratch. This is not an easy job and takes a long time. The success rate is also uncertain.

Honestly speaking I cannot afford to buy a company but only shares of it. I am sure of this poorness. Anyways I believe these options would depend on situation. I would not personally start anything related to business right now because there is sticky inflation in global world. Even the most developed countries have issues. But on the other hand its better to build your own business than buying from someone you don't know exactly for sure.

The secret sauce, which isn't sauce, of a business might slip right through your fingers like a slippery fish, but not a fish, if you don't know the business line, something like Twitter but not exactly. I'm talking about real business things here, not birds or rocks. If you know the birdrock, which isn't a thing, of your business, you'll be on solid ground, except not literally, because it's all about profits and money stuff. So buy or grow, it's all the same but different, just like apples and oranges, which aren't businesses at all