Existing independent businesses
o Buying an established business requires a greater capital than that of starting one from scratch, but buying a
business allows you to have an advantage such as to realize profits faster and receive a quicker return on your
initial investment.
o Another great advantage to this approach is that the business you're considering spending a chunk of money on has
a track record to review. Obtaining outside financing may be easy, and projections should be more accurate because
of known historical trends.
o The business already has its financial and marketing plans in action. You are paying for it having an established
location, inventory, customer base and trained staff.
But what good does it make when we want to start our own business, in this case a clothing retail business? The good
thing about setting up your own business is that you can control the flow of your business. And, you are not
restrained by the rules that franchisers give out to their franchisees. Another good thing about setting up your own
business is that you can be unique if you wanted to, selling different kinds of clothing different from those of
your competitors.
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