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Business Ideas Forum
Business strategy
Should I start from scratch or buy an existing business?
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[QUOTE="Jasz, post: 265995, member: 61772"] The answer depends on your personal situation, the industry you're in and the amount of money that you can afford to invest. If you have good ideas for products and services, but don't know how to build them into a business, then buying a business could be an option. Buying a business means that you have someone else who knows how to run it and that you don't need to spend time learning about all of the ins and outs of running a business. Buying a business also allows you to take advantage of economies of scale. For example, if your new business requires three employees, but only one is needed now, buying the company will allow you to hire more people when needed later on. However, if I have what it takes, I will like to start my own business, my business is like me, I need to be part of it from the early stage to maturity stage, no the less, I could still buy a business I love the initiative but only if I have an existing one already. [/QUOTE]
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Should I start from scratch or buy an existing business?
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