I recently read an article from AllBusiness. The article states that buying an existing business is less risky than starting a new business. The article says there is a lot to say for a proven idea and existing customers.
But watch out when buying an existing business. An existing business may not be worth the asking price. You need to carefully investigate the business and evaluate what you are being told by the business broker or the owner. For example, if a business is primed for growth why isn’t the existing owner growing? If a business needs a sales person to spur growth why hasn’t the existing owner hired a sales person? How are you better equipped to run the business than the existing owner?
Do not get caught up in the emotion of buying the business. Perform your due diligence and do not move forward unless it is the right business for you and your pocketbook. There is always another deal out there.