Starting an eCommerce Business Vs Buying an Existing one

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Starting an eCommerce Business Vs Buying an Existing one

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Starting an eCommerce Business Vs Buying an Existing one Which to choose?:

Starting an eCommerce Business Vs Buying an Existing one Which to choose?

Owning a business is something that entices people to come up with more and more ideas. :

Owning a business is something that entices people to come up with more and more ideas.

How is the industry to start an online business?:

How is the industry to start an online business? According to  Statista , these stats will rise to $2774 billion by the end of 2018. It is indeed a good time to invest in this high grossing industry, as it is growing globally and exponentially, without no sign of decline any sooner.

1. Avoid inherited debts and liabilities :

1. Avoid inherited debts and liabilities While buying an existing ecommerce business you are liable to honor the existing terms and conditions of the business. Moreover, you are also forced to adopt the outstanding contracts and liabilities passed on to you by the previous owner. Failing to honor these terms would result in major losses for your recently acquired business. You do not want to fall prey to the legalities of the financial burdens and lawsuits at the very beginning of the startup.

2. Strong learning curve :

2. Strong learning curve Learning always comes through a tough route. Taking over an existing business is so flat that you do not get any learning experience that you would have got while establishing a business from scratch. While nurturing an eCommerce business from birth, you do whatever it takes to rank it among the top search results. If you acquire an already existing business, you would be doomed to fail in the end. How? You missed all the learning curve. Hence, you would hardly have the experience to deal with the challenges that are bound to come eventually.

3. White-labeled business identity :

3. White-labeled business identity When you are buying someone else’s business, you borrow his or her brand identity too. You are no longer entitled to pioneer a business and vision of your own with the existing establishment. You would be adapting to a third party business and consoling yourself with the obligation to praise their work, even if it does not match with your own set of goals.

4. Full control over customizations :

4. Full control over customizations As a small or medium business, you should look out for long-term objectives rather than constraining yourself in the short-term goals. Taking over an existing business might seem a fruitful option in the short term it does not offer you the accessibility to have a full control over the perfections of your business website in the long term.  The existing business website might have been developed on an older technology, which might not be efficient enough to handle the contemporary and future needs. 

5. Adopt your own business model :

5. Adopt your own business model Like an existing business website, which cannot fulfill all your technical feasibilities, you cannot expect an existing business model to meet all your business goals too. While acquiring an existing eCommerce business, you are bound to honor the business model they have been following until date.  For example, the acquired business might have served the best to the previous owners with its inventory model of eCommerce. However, if you want to adopt the  multi-vendor eCommerce  model, it would be impossible with the existing establishments. 

CONCLUSION:

CONCLUSION Be it any eCommerce business or any business model, a head start is crucial to gain an advantage over the existing competitions. You can do that by starting your business from the correct foundation and utilizing the experiences to make it smoother day after day. Developing from scratch could be a little complicated tough but never a failed solution to achieve bigger targets. The complexities and learning curve of starting a business from scratch will let you have an absolute control over your business and its technical feasibilities. You would develop everything from your own experience and would have everything required to leave a mark in the market, instead of borrowing a brand identity that does not carry your essence and uniqueness.

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