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Buying vs Starting

February 22nd, 2011 | Comments Off on Buying vs Starting

Should you buy an existing business?

Should you start a new business?

That depends on you and the team you are going into business with. There is a Right and Wrong answer for you. We will layout some points for you to consider to help you make an informed decision that will feel, well, Just Elementary!

Reasons to Buy:

You want an established track record and proven business model.
You will be open for business the day you take possession.
Trained employees in place with a seller to offer additional buyer training.

Reasons to Start:

You have your own plan and ideas.
Commercial space is extremely available and often built out, so you can be open for business sooner than leasing or buying a vanilla shell space.
Lower initial investment cost than buying a business.

If you have your own mind and tend do things your way all of the time, and you think you know how best to do it, then you definitely should start your own business. At the very minimum, take over a business that is set up and struggling, so you can get in the door for a lower investment and put your fingerprints all over it.

If you are looking for the security of a good track record, then keep your eyes focused on existing businesses that are not struggling. This is going to come at the cost of the premium, but will have less risk associated with it.

We’ve talked to a lot of buyers, call us to discuss the differences to help discern which path you want to take.

(323) 213-9193 | cs@justelementary.com