Before I was excited from the start when I had my own business. But maybe because I was still single and young at that time and had no experience it turns out not good that is why I decided to stop its operation. That is why now if me and my husband plans will push through we would like to venture to an existing business already that had a name and had followers already. Some kind of a franchising business if our savings is already okay for our desired business.
If you're buying a business that is not doing great though, is it really worth the time and monetary investment in trying to turn it around? There is a local restaurant that went under due to financial problems that was started up again in another location, and then was bought by another businessman. He rebranded it, but it was only slight as I believe he didn't want to alienate the clientele. However, it seems it still bears the same poor reputation that the old owner had made it into since the new one did not rebrand enough.
Is it really worth the time and money to try and build it back up?
If you have a great idea but limited funds, you should always begin your own business. However, if you don't have fresh idea but have good money, investing in existing business is better.
Okay never thought of that. I guess you mean like a franchise. I have a friend who was willing to invest in a tax service. It was a franchise and he became skeptical because it seemed like it was not a very lucrative brand.