Why Buy A New Businesses Instead Of Making One From Scratch?

You should buy a business instead of creating one

Buying a new business has many advantages over starting a business from scratch, but how exactly can you go about it? Well, let’s find out in this new episode of Startup Streams Serial Entrepreneurship Podcast…

The easy way to start a business vs the hard way

It’s human nature to want to seek the easiest way to do something or make use of something. You will always find a hard way and also an easy way to do pretty much anything. Like a two sides of coin.

What’s more, we humans are impatient and being an entrepreneur is no different.

We want to get from point A to point B fast. We built the airplane. We want send messages to the other side of the world instantly. We invented the internet. You want to start a business fast, and know the fastest way to do so is to buy one. But it’s expensive right?

You know that there is a hard way to start your business. You can do everything yourself. You can choose the name of your business, conduct market research, design a logo, build a website, decide on your market strategy. You get the picture…

But now there is also an easier way to do it, and is where we at Startup Streams come in. We exist to aid the impatient get started in business, fast. We are the car to your horse and carriage. We are the Motocross bike to your BMX, we are the space rocket to your… well, pretty much anything.

But more about us later…

The Pros

Put simply buying a business saves you time and money in the long haul.

Someone else has done all of the major thinking and you can get a jump up on your ecommerce ambitions by buying a store from someone else who has done the hard work for you.

You can save money as you won’t need to spend the countless hours and dollars on experimenting with the business getting it to the point when it is in front of paying customers.

When you buy a business, you are also buying into its preexisting ecosystem, meaning you will already have a network of suppliers and products in place.

If you buy a developed business, it would already have prior sales, meaning you can easily double down by monetising existing customers further, by expanding the existing product range. 

Last but not least, when you buy a business, you are buying proof of concept. “Need" is one of the hardest elements to assess before running a successful business. If a business you want to buy has a proven track record of sales or can demonstrate other key performance indicators, then you may be on to a winner, and it may just need optimisation and experimentation to develop it further.

You could say that buying a business is like using a cheat code in a video game. It can help you achieve your ambitions faster.