Answer:
To summarize the question : The sole proprietor to buy an existing restaurant and transform it into a cafe rather than building it from the start
Benefit :
- Cheaper Price
Since the property is not new, the sole proprietor could obtain it with significantly lower price compared to buying the new ones.
- Less Financial Risk
The existing restaurant also come with some of its loyal customers. If the sole proprietor could convert them , the sole proprietor already have a good stream of income for a brand new business
- Quicker Execution
The formal & legal matters from Buying an existing business usually shorter than establishing permit for new ones.
Cost:
- Property Damages
Since they are no longer new, we need to expect that some of them come with a less than ideal condition
- No Fresh Impression/Image
The people around the business area will already associate the business with the previous brand. If it's negative , than the new owner have to deal with it.