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Business strategy
Should I start from scratch or buy an existing business?
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[QUOTE="Kingsley, post: 266269, member: 30278"] Buying a successful business may really sound like a very good idea because it will save one a lot of stress and cost aswel. There are enormous benefits that comes with buying an exiting business mostly when the business had been successfully. The business must have already gathered it target customers and there won't be challenges as to how to create awareness of the product or services. But the challenge will now set in if the person that is acquiring the business does not have the prerequisite of managing such a business. That will actually lead to the death of the business. On that account it will be more advantageous for one to start off from the scratch as this will provide one the opportunity of learning the business and it will enable the person that is starting up the business to gather enough experience that will make the business to even perform far more better than a business that was acquired. Experience has shown that people who buy off an existing business all because they think it is successful or it is cheap and almost falling apart, ends up selling the business as a result of the same problems that made the initial owners to sell off the business. [/QUOTE]
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Should I start from scratch or buy an existing business?
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