Buying an existing business is generally an easier way to start a business with an immediate head start. It saves valuable time and administrative efforts, considering starting from scratch is typically a long drawn & time consuming process.
Business is an ongoing activity and every single day a business owner will be learning & experiencing different situations which is fairly common and expected while running a business.
Some of the advantages of buying a business vs starting one from scratch include:
1. The business can be throughly analyzed and bought only if it measures up to your requirements.
2. Since the business is a running entity already making sales, it is unlikely that the business will go bankrupt.
3. Existing clients would would ensure business continuity.
4. Employees could be one of the biggest assets that comes along when you buy an existing business.
5. You can avoid the grind work of registering the firm, obtaining licenses, filing regulatory documents, etc as these would have been handled by the previous business owner.