When deciding between debt and equity financing for a business buyout, there is no one-size-fits-all answer. It depends on your personal preferences, financial situation, and the characteristics of the business you want to buy. Factors to consider include the amount of money needed and how quickly it is needed, confidence in the future performance and profitability of the business, risk tolerance and leverage comfort level, control over the business, and investor involvement and support. Combining debt and equity financing can be beneficial as it can balance benefits and drawbacks while diversifying sources of funding. For instance, debt financing can cover most of the purchase price while equity financing covers the remainder or funds improvements or expansions. Alternatively, equity financing can secure initial funding with debt financing used to buy out the investor once the business is stable and profitable. Ultimately, it is important to weigh options carefully and choose what best suits your needs, goals, and expectations. A business buyout is a major decision with potential long-term impacts, so research thoroughly, consult experts, and negotiate smartly.