Brick-and-mortar banks typically offer superior interest rates for borrowers and savers. True or False? Explain.

One advantage of buying an existing business is that it already has an established customer base, brand recognition, and a proven track record of generating revenue. This can reduce the time and effort required to build a business from scratch. Another advantage is that the existing business may already have skilled employees and established relationships with vendors and suppliers. This can help in ensuring a smooth transition, increasing operational efficiency, and reducing startup costs. On the other hand, one disadvantage of buying an existing business is that it may come with existing liabilities or debts that the new owner would have to take on. Additionally, the business may have outdated equipment or practices, which may require significant investment to update. Another disadvantage is that the new owner may have limited flexibility to make changes to the business, as there may be existing contracts or agreements with employees, suppliers, and customers that cannot be easily changed. Overall, buying an existing business requires careful due diligence and consideration of both the advantages and disadvantages.