Should you purchase an existing business or initiate a new one?

Each alternative carries its own advantages and disadvantages.
Opting for an established business offers greater predictability compared to embarking on a fresh startup. While history might not necessarily repeat itself or remain consistent, there exists a foundation for the buyer to anticipate outcomes. The buyer can decide an offering price based on the historical performance of the business. Many a times, a resale business is cheaper option than constructing a new business from the ground up.
On the other hand, commencing a new startup is starting from a scratch. Foreseeing the end result is challenging. Achieving the breakeven point requires a considerable amount of time. Nonetheless, the good side is, if the startup flourishes, the return on investment and the business value can skyrocket.
No unanimous superior choice exists. However, an individual with extensive and successful industry experience has a greater chance of success when pursuing a startup. Conversely, someone with limited or no industry exposure can significantly reduce their risk by opting to acquire an established business.
Please leave your comments if you have your personal experience to share…..!