I did exactly that, bought a one-woman business. Pavilion Office Products was previously owned by a lady who did all the work. However, she burnt herself out and came to loath being self-employed. As I had been helping her promote the business, she gave me first refusal (it was either I buy it, or she would shut the business down). I made the leap and bought the business. I did lose some customers who preferred dealing with the previous owner (of course, that's not what they said, but their spoken reasons for still not using us didn't make sense). Now, here I am, nearly 8 months later, the owner of Pavilion and it was the best decision I made.