Purchasing a business may appear to be the more expensive route for most entrepreneurs, but it may come with a business manual where you have nothing new to create, a great source of customers and a turnover that is at least satisfactory. Creating your own business means that you start without any customers, but plenty of capital going into building your business, marketing and trying to achieve some sales, not knowing when you might be paid. Would you be better off looking at a Seattle business for saleor producing your own from scratch?
Do You Have a Great Idea or Do You Need to Buy One?
Entrepreneurs are full of great ideas, but sometimes it is better to build a business from one that is already established, when you cannot contemplate doing something better than the businesses that are already in place across Seattle. Business for sale signs are everywhere with some businesses for sale, confidentially.
To avoid start-up complications, financing and sourcing customers, the purchase of an ongoing franchise or an existing business may be preferable.
Create Your Own
You will find you have a blank page on which to create your own business, together with all the freedom that you require to design an operation that matches your dreams. You won’t have to move into a business where the rules are already set and history dictates how the operation is run. You will have the opportunity to create your own marketplace within the city, whether you are trading locally or worldwide.
Starting your own operation can see money going out as it takes time for money to come in and even longer to move towards the profit zone. You do not know whether the business will be successful until it is up and running, however much research you conducted before you opened for business. A business for sale have a lower failure rate than new businesses, especially once they have been operating for a few years.
Raising finance for a new business can be difficult as investors will treat you as a higher risk, compared to purchasing an existing business, where the accounts appear to be good.
Purchasing the Existing Business
Where the business was running at a profit before you purchased it, nothing should change unless you alter the business to its detriment. Ongoing customer relationships can be boosted and financing your dream will be easier because a lender or investor will be able to see long-term results.
The downside of purchasing an existing business for sale is that you may disagree with the way it is run and must spend too much time making changes without increasing profits in those early years, without alienating customers.