Had a marketplace website done with node.js for backend and react for front end. Would like to pivot to an entirely new business but with same marketplace model. Can it be recoded for the new business or have to start from scratch?
It depends on how similar the businesses are. For example if you are moving from selling shoes to selling hats versus you are moving from selling shoes to creating web apps – they are very different situations. Since you said that the marketplace model is the same, then it is probable that you can reuse a lot of the code from your current website. Both React and Node.js are up to date tools for building web apps. An experienced developer should be able to do this for you.
The short answer is yes. No need to reinvent the wheel again.
Most likely the underlying fabric is focused towards the mechanism for advertising and selling generic products but you tailored those products into something specific.
Keep the same mechanics just change the design and repopulate the products with the new ones you wish to sell.
The great thing with code, especially if you are talking about a similar marketplace model, it can be repurposed to suit your new needs.
Definitely, don't pay again to have it all recreated from scratch!