What advantages can an entrepreneur who buys a business gain over one who starts a business from scratch?

Though a bit more costly, an entrepreneur who buys a business gain will receive the following advantages:

1. Bankers and investors feel more comfortable dealing with a business that already has a proven track record making it easier to get financing. 2. There is already a standardized policy, procedure and operation flow which is proven to generate profit. 3. An established customer base and reputation is already existing 4. Along with employees who are familiar with the business flow and/model