Essay about Build or Buy

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Assignment#1: To Build or to Buy by Professor; Business 402-Small Business Management 01/29/2013 Assignment # 1: To Build or Buy Craft a brief strategy for a business concept that would directly compete with the small business you selected. Explain the rationale for the strategy in detail. The Business strategy which I would use would be to purchase an existing Bagel and Tea shop located in the heart of Rockville city. The business is called Island style Bagel and Tea shop. Island Style is surrounded by lots different types of business, schools and it pretty much a great location. The shop use to be an ice cream shop and the owner just could not run…show more content…
Our freshly roasted coffee, to the finest imported espresso beans, huge selection of loose leaf teas and create every drink with love and attention (Island Bagel and tea, 2010). I believe that it would be better to buy an existing business, despite it may involve risk. However, I can minimize my risk by purchasing an existing business rather than to create a new business. When buying a business require a great deal of analysis and evaluation to ensure what meet my needs and expectations. By exercising my patience and taking all necessary time to research a business before buying it, are essential to getting myself a good deal. The good thing about buying an existing business is one of the fastest pathways to ownership. (Scarborough and zimmerer, 2012). Hence, by purchasing an existing business saves time and energy also by buying an existing business you get a business that already generating cash and also a profit. Location is critical in purchasing an existing business that already generating cash and also a profit. Location is a critical in purchasing an existing business, a location that provides a significant competitive advantage may be the reason enough for you to decide to buy instead of building. There are plenty of advantages of buying an existing business. The business I am buying is a successful business and this business will continue to be
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