You are not affected by prior commitments to employees, leases, and other obligations. On the other hand it is hard to raise money for a new business, and the risk is high. Because you probably do not have an established clientele, expect advertising expenses to be higher than those of an established business. You may have to go through a long period of trial and error as you develop a marketing strategy. Initially, there may also be insufficient cash flow, and without a history of operations to draw on, your projections may be too optimistic.
Some people go into business by buying an existing concern.
There are pro's and con's to this approach. The business has already established good will, which may include such intangibles as good customer and supplier relations, management efficiency and public acceptance. It may have an established niche in the marketplace. Cash flow is usually stable and the business has a relationship with a bank and other service providers. The location is set.