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This extra asset is called the 'goodwill' of the business. The better the business, the more the 'goodwill' will cost you.
Advantages and disadvantages.
• You will buy some of the experience and expertise you do not have. Nobody can be expected to know how to do everything. It is much easier (and cheaper!) to learn from other people's mistakes that they have made in the past, rather than making all these mistakes again yourself.
• If your new idea needs to be marketed to a specific target customer, buying a business dealing in related goods or services will give you both access to your potential customers and the credibility of a trading history, when you seek to launch your new product...
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