Buying an Existing Business vs Starting a new one 

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As mentioned the Advantages and Disadvantages
START-UP (Advantages)
Cheaper (but not always)
You can create your own culture
You get the choose the employees
No legacy Issues
You get to shape the business the way you prefer
You can grow organically to keep debt under control
Freedom and sense of achievement
Control your own hours
Potential to earn more money
START-UP (Disadvantages)
Start marketing (zero customers)
No policies and procedures
No accounting software and systems
No business structure
Need to hire new people
Find Suppliers
Build customer base
No Cash-flow (initially looses money)
No track record nor reputation nor brand
Upfront costs
High failure rate
Negotiate lease
BUYING an EXISTING BUSINESS (Advantages)
Existing customers
Existing cash-flow and Profits
Proven business model
Trained employees (Existing Suppliers)
Easier to finance (Financials)
Proven Track record
Existing Brand (Website & Social Media)
Existing Assets (Cash or Trademarks)
Greater chance of success
Existing infrastructure
Market tested Products and Services
Reduced start up time
Can focus on growth (less work and risk)
BUYING an EXISTING BUSINESS (Disadvantages)
Can be expensive to buy
Not easy to buy at a discount
Not your culture
Goodwill can be linked to previous owner
Unknown Liabilities
Old Systems
Uncooperative employees
Old equipment
Obsolete Inventory