Actually this is a very hard decision to make for first-time entrepreneurs.
Starting a business from scratch can be overwhelming. If you have mature business ideas and your business is truly groundbreaking, then you may wish to start your own business. Another advantage by Starting from scratch is if you’re on a limited budget, you can shape your new business to fit your available capital.
However if you want to hit the ground running, be your own boss but don’t relish all the groundwork involved in getting a new business off the ground, then buying an existing business or a successful franchise may be a better option for you. Even further beyond, if you consider yourself a strong leader and have everything necessarily to taking charge of a business that’s already thriving, or (know how to) excel at turning around a struggling business or expanding a smaller business into a big company, then buying an existing business will give you more opportunities to let you enjoy success.