Buying an existing business or starting from scratch?

Question

Which one do you prefer?

Michael Bogdanowicz · Accepted Answer

Well, I can't imagine how to manage business when you just buy it. I mean that you need to understand process. What why I grow my own business from scratch. But it is not really from scratch, because I designed sites and products 10 years before start to create own company.

Mark Leon · Answer

Hello. It seems to me that it is much better to start a business from scratch. I made my business from scratch and slowly develop. I have an online store and I made a website for an online store using Shopify : https://mediaonemarketing.com.sg... I think this information will help you in the future

Goutham · Answer

Since I'm just 1 year into building startups, I prefer to build a startup from scratch.

Buying a business upfront would prevent the opportunity for us to become close with customers & understand their problems better

An existing businesses will have a lot of nuances on how they were grown. Often times, they might be growing due to the founder's personal brand.

And there's always the risk that customers might drop off & you have to eventually start from scratch

Leyla Aliyeva · Answer

There are several challenges and key considerations as a business owner whether you choose to start a new business or purchase an existing one.

Qudsia Ali · Answer

It depends on the existing business and my willingness to take on a challenge. If I think I can grow the business even when it may be struggling, I will go for it. Otherwise, starting from scratch is difficult because we must figure out everything and develop a plan. However, it is worth it because I will learn and gain experience along the way.

Sidra Arif · Answer

If the existing business is running finely, I will go with it.

Ryan T - Dezbor.com · Answer

It depends, starting from scratch will take your time which you can't get back & sometimes money... buying existing will take just your money

Personally, I'd probably choose from scratch mostly but if I saw an undervalued existing business and I thought I'd have the time and love to maintain it, I would just buy it

Samuelgrantham · Answer

It's usually better to start from 0 because businesses are sold in the first place when they don't make a profit (which we don't need). From 0, it's better because you learn on your own and get to grips with everything in your chosen sphere, so you're more likely to burn the business if you get it ready. For example, I used https://fitmymoney.com/500-dolla... to grow from scratch, and now I have a successful business. On top of that, a big thank you to Fit my money for offering me 500 dollar loan, which helped me a lot during the time when I was basically poor, and my business wasn't working.

Answer

I can say that I started a business from scratch, I opened a company in the UK, because this country is very convenient and profitable for business. By the way, first I made a business plan, I attracted investors to create a business. I contacted a company Business Plan Writers UK here website https://businessplanwritersuk.co.uk/our-process/ . They made a business plan in a short time, the guys are really professionals. They exceeded all my expectations.

Serdar Palaoglu · Answer

@gouthamj oh yeah thats true. thank you for your contribution

Serdar Palaoglu · Answer

@qudsia_ali thank you for your contribution

Serdar Palaoglu · Answer

@samuelgrantham like that

Serdar Palaoglu · Answer

@distartin thanks for sharing !

Serdar Palaoglu · Answer

@mikhail_bogdanovich thanks for sharing

Buying an existing business or starting from scratch?

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