5 volts across the open points is not enough to get the coils to spark the plugs.
You need a decent battery to get these things running, as they don't generate much, if any, power at engine cranking speeds.
Charge the battery and try again.
A fully charged battery wiil electric crank for about 90 seconds.
My rule, is that if it hasn't caught in 60 seconds of cranking, switch to kick start, so the battery will have enough juice to fire the spark plugs.
If you electric crank until it won't anymore, the battery voltage will likely be too low to fire the spark plugs. Then it's hopeless until the battery is rejuiced.
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