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One option for becoming a business owner is to buy a business

One goal a person may have is to be a business owner. When thinking of ways to become a business owner, a person's mind might go straight to starting a new business. However, this is not the only way to get ownership of a business. Another option a person may have is to buy a pre-established business.  

Starting a business and buying a business each raise their own unique issues and have their own pros and cons. So, which route an aspirant business owner may want to go can heavily depend of what business goals they have and what their overall circumstances are.   

Among the things that an aspirant business owner may find attractive about buying a pre-established business are:

  • Not having to take all the steps related to starting up a business.
  • Getting a business that has already been tested, rather than having to go out with an untested idea or concept.
  • Getting a business that already has an established customer base.
  • Getting a business that perhaps has a less risky growth path than a startup would. 

Of course, buying a business can also have challenging aspects. For one, many complex legal issues can be present in relation to the purchase of a business. What ends up happening in relation to the various legal issues connected to the buying of a business is among the things that can have significant impacts on whether the purchase will ultimately be able to help the buyer with their overall business goals in the way the buyer was hoping it would.

Experienced business law attorneys can provide individuals who desire to purchase a business with guidance on the various legal matters related to buying a business. 

Source: Harvard Business Review, "Why Buying a Company Can Be Better than Starting One," Richard S. Ruback and Royce Yudkoff, April 5, 2016

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