Starting a business from scratch causes dealing with many problems from the very beginning. Taking over an existing business comes with its advantages. What we need to pay attention to is why are they selling the business we are going to buy? If the answer to this is sufficient for you, then taking over is a logical thing to do.
Instead of doing many of the things necessary to ensure that the business makes a profit while trying to establish a business from scratch, when we take over a business, these necessary things are already provided. There are many details and you should consider every possibility before making this decision.
A business that’s being bought over by another business is likely headed to bankruptcy and would have to lay off its employees. This can be avoided by an acquisition. To avoid the mass layoffs and for profit reasons of course, another company could buy a failing business and then pump in both financial and man power resources to grow the business.
Buying a business seems to be more preferred than starting one. There’s still lots of work involved irrespective of whether you’re buying or starting one. You’ve got to be really wealthy to fund and bring a failing business back to life. Takes a whole of time, effort and of course, money.