Buying a Business Vs Building Your Own Business

[Jasmine]

If you want to own a business, you have two option, one, you create your own business, and two buy a business. When you create your own business, you start from zero, and when you buy a business, you already have something to work on.

Let’s say you want to launch a T-shirt business. You can do it in two ways, one, you go to marketplaces like flippa and search for T-shirt business, when you find the one that you are looking for, you negotiate the price and you buy the business. You now have a T-shirt business, you build the brand, do some SEO and digital marketing and start generating sales.

The aforementioned method requires you to invest some sizable amount. Therefore, you can do it on your own. You create a store, add products and then launch your business. You will also have to work on SEO and digital marketing. This method requires technical skills and technical know-how. However, it costs less than buying pre-build business.

 

[Mika]

Youtube is not a Google product, Google bought youtube form the creators of youtube. Instagram and WhatsApp are not Meta's original products, Metra bought these products from other people. The current value of youtube is way higher than the price google paid. Likewise Instagram and whatsapp are worth more than the money Meta paid for these products. You can buy businesses and make more money from these businesses, however, there are certain things to be taken care of. The businesses might already have customers but you need to invest more to reach newer heights, you also need skills to manage these businesses. Last but not least you will have to spend a lot of money to buy these businesses. Buying businesses is good only for those who have a lot of money, for rest of the people, working in his or her own business is the most appropriate thing to do

 

[Shigobad2020]

Owning a business and also having a business by buying one is a good way of making money in life , but each has its own advantages and disadvantages , when you buy a business , you don't need to go through the process of laying out any foundation and building again and you don't need to buy materials , all you need is to have enough money to buy the company over and have your own business plan to execute because the owner won't decided to sell his or her company if the its working according to plan . But without trying to fix the problem of the business which might be poor business , or due to poor management which need to be fixed out .
And when you are building your business from scratch , you have the privilege of following your business plan and using your own business strategies .
It gives you the privilege to develop slowly and moving to the top when you are consistence .

 

[Shaf]

A beginner in business should have no interest in buying a business, but focus on growing a business from scratch so he can learn how to run one successfully.

Buying a business also means you need to have a lot of money, which is not something beginners in business have. It's possible to purchase blogs or forums that have some decent amount of traffic these days for amounts less than $1,000, but you should be ready to spend money or time on continuing the work that was done, especially if it's a new niche for you.

There may also be problems that the owner is facing that made it necessary to sell and they are not easy to fix. For example, a neighbor of mine had to close down his pharmacy because people consistently love buying from him on credit. A new owner came and he got bankrupt within a short time too. The environment was simply not good enough.