Thinking of Starting a Business? Consider Buying One Instead
By ROSALIE MURPHY of NerdWallet
Starting a business is, famously, very difficult. If you long for entrepreneurship, consider buying an existing business instead. They come with intellectual capital, existing customers, supplier relationships and cash flow. Business buyers may be able to get bank or SBA loans, which usually aren’t available to startups — and financing may mean you can start paying yourself sooner. You can do your due diligence to make sure the business runs as it should. And if you’re a key employee or competitor, you may already know the business’s operations and customers well, and be well positioned to take it over.
