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BUYING A BUSINESS

Advantages for the Buyer:

1. • Proven Business Concept: When you buy an existing business, you acquire a proven concept with an established customer base. This saves time and effort compared to starting from scratch.

   • Reduced Startup Time: Purchasing a business allows you to skip many initial steps, such as hiring staff, finding suppliers, and setting up processes. You can focus on running the business immediately.

   • Lower Operating Costs: Existing businesses often have trained staff, established relationships with suppliers, and efficient processes, leading to cost savings.

SELLING A BUSINESS

Advantages for the Seller:

1. • Exit Strategy: Selling a business provides an exit strategy for the owner. They can retire, pursue other ventures, or cash out their investment.

   • Monetary Gain: Sellers receive compensation for their hard work and the value they’ve built in the business.

   • Passing the Torch: Sellers may feel a sense of satisfaction in passing their legacy to a new owner who can continue its success.

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