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Looking to open a supplemental education for Kids. Should i purchase an existing biz or start one up?

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The BAF Group LLC
MD

The key is in writing a Business Plan, in which you lay out all of the steps that need to be taken to start the business from nothing. Compute all costs, when you have to spend those items and how long it will potentially take you to make a profit. (Keep in mind that things like Rent frequently start before you open your doors, and you often lose money for months or even years, before you become profitable.)

Once you have that total projection in mind, then measure that against what it would cost you to buy a similar business, how much profit there is against the payments you would have to make to purchase the business, and that will tell you which is most, financially beneficial. There are other factors in some businesses, like how difficult it is to get the credentialling you might need. Sometimes, buying the business gets you into a role it could take you years to do, as a startup.

Apr 29, 2011

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