The previous owner hopefully has already established systems in place and will act as a mentor, short term, to transition the business to the new owner.
Banks will loan money for the acquisition cost and working capital for an established business. The approval is based on the credit worthiness of the buyer, their resume/experience, and the cashflow of the business itself.
You bypass the negative cashflow start-up phase and go straight to positive cashflow, even after paying debt.
Instead of introducing an additional business into the local market expanding the competition, you replace an existing business. You may also be able to capture the best business location, or a larger facility, in the market as well.
You don't have to create a new customer base from scratch because the previous owner already created an established customer base.
You take the guesswork out of the performance of the business.. The revenue and cashflow can both be predicted based on historical values.
Everything is in place. Suppliers are known. Product types are chosen. Pricing is established. Less trial and error.
You get key experienced trained employees to help you in the business.
Bottom line, you should hit the ground running, making a profit from day 1 with much less risk. Your odds of success are multiple times higher than a start-up business.