Small Engine Troubleshooting Problems? Ask a Mechanic Now.
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Are you getting spark to the plug? My first thought is that the ignition coil has gone bad.
This machine looks like it has a Tecumseh engine on it. The ignition coil is part number 34443D and varies in cost depending on where you get it from but it looks like the majority of them are around $40.00 if you stay with an original equipment part rather than aftermarket.
Before I would just go replace it I would check to see if you are in fact getting spark to the plug or not. You can easily do that by removing the plug from the engine, installing it back into the plug wire and grounding it against the block and crank the engine while watching to see if the plug is firing.