expand on the following information by defining advantages and disadvantages of purchasing an existing business. Use the following infromation: Advantages of buying an existing business: 1. Better financing options 2. Already established brand 3. Existing customers (Customer base/Cash flow) 4. Well-established supply chain Access to trained staff and proven internal processes (Business operations/ Staff and transition assistance) 5. More financial reward in growth 6. Greater likelihood of success Disadvantages of buying an existing business: 1. High cost for the initial investment 2. Dated processes and technology 3. Existing company reputation and culture