There are pros and cons to starting a business from scratch or buying an established business — and I can’t say I favor one over the other — but if you choose the latter, be especially cautious with your financing to avoid undo struggling that could linger for some time.
I recently spoke with a potential client who bought their business in April via a five-year seller’s note. He had done all his homework and was convinced he was set for immediate and continuing success.
And then business slowed for no apparent reason.