Acquiring an established venture represents less risk than starting a new business as it comes with an existing customer base and revenue stream. However, buying a business is a complex process that requires thoroughly evaluating key business documents like financial records, contracts, and licenses. It is important to understand the target industry and markets before acquiring a venture to ensure it is a good strategic fit. While an established business provides advantages like immediate cash flow and existing assets, there are also potential disadvantages like needing upgrades or declining industry conditions that require investment. A comprehensive due diligence that examines financials, assets, contracts and the seller's claims is essential to evaluate an acquisition target.