Can time be saved by purchasing an existing firm rather than by doing a thorough job of planning and establishing a new firm?
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Answer:
Better financing options. ...
Already established brand. ...
Existing customers. ...
Well-established supply chain. ...
Access to trained staff and proven internal processes. ...
More financial reward in growth. ...
Greater likelihood of success.
Explanation:
Some of the disadvantages of buying an existing business are as follows:
The industry as a whole might not be doing well and the situation might not improve in the near future.
The owner may possibly be dishonest about the business. ...
The equipment is old and outdated. ...
The location may be bad or likely to become bad
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