Close the business and buy a new one?

[Undirection]

I have a dilemma and it might be obvious on here in terms of common sense but it's not that easy when it's me.

I jointly owned a business about 6 years ago that was a start up. I left after a couple years (amicably) as it didn't work out with my business partner who had other business interests and didn't focus enough on the business. We've kept in touch since then and worked on side projects together.

Shortly afterwards I started another business on my own. New sector, lots to learn etc but I was used to this and so ploughed through to get it to a point where systems etc are all set up and I could now expand it.

However, in this business there are numerous rules and regs, it is a developing market which also means an almost constantly changing one, payment terms can be very long on domestic work, paperwork for jobs is extensive, etc. We work for commercial customers too though which is easier but there are predictably fewer of these. However, the market is rapidly expanding and will be huge.

The original business I set up worked at the premium domestic and the commercial end of its marketplace meaning bigger margins (av £3k but up to £8k), had far less paperwork, was/is cash positive, required less paperwork and had fewer competitors. It did £55k profit last year with minimal work and with no marketing on some key products (my ex business partner did not have the time to work on it so kept it low level). Doubling its profit shouldn't be too difficult and, of course, I know the business. It is very seasonal so we'd have lot of spare time for part of the year.

I don't want to let my business go but am also wondering if I want to go flat out with this in the future when the other business offers me good profits and potential for work mostly just part of they year.

It'd be a shame to close my current business down after so much work but if it's the right thing strategically to do.... Anyway, just my Friday musings...