Should I buy an existing vintage shop or start one?

Many people who love vintage and antiques wonder whether to take over a shop or open their own. Neither path is right for everyone, and this page does not recommend one. It lists what each gives you, so you can compare them against your own skills, your appetite for risk and the way you want to spend your days.

What an existing shop can transfer

Ask what actually changes hands. Sourcing contacts, a customer following, social accounts, a mailing list and a trading name can all be part of a sale, but only if the seller agrees and the paperwork says so. Ask which of these the owner would introduce you to, and for how long they would help after closing.

What you also inherit

A shop comes with a lease, a fit-out and stock the previous owner chose. Some of that stock may suit your taste and some may not. Ask how long items have been on the shelves, how the lease can be assigned, and whether the fit-out would need work. Your lawyer and accountant can explain the commitments that come with each.

What a start-up gives you

Starting fresh lets you choose your own stock, your own location and your own look. You carry no inherited lease and no history. You also build the following, the sourcing network and the cash flow from nothing, which takes time. Ask yourself how long you could run with little income while that happens.

• How much of your plan depends on a trusted supplier network?
• Would you rather inherit a customer base or build your own?
• Do you have the time and savings to wait for a new shop to find its feet?